Massive 3-Brother Scam Shut Down by Canadian Regulator

[mlawson71]

Three Canadian-Israeli brothers were recently incriminated by the Ontario Securities Commission (OSC) for an enormous binary options scam – apparently they scammed over 700 local investors out of $1.4 million.

The three brothers -  Joshua Cartu, Jonathan Cartu and David Cartu – allegedly operated out of a call centre in Tel Aviv, Israel, and controlled two binary options brands called Beeoption and Glenridge Capital.

The scam has been in operation for a long time – since 2014 and between that year and 2017 it profited about $225 million from many investors around the world. Naturally, money invested in these brands could not be withdrawn.

Source

Yet another binary options fraud coming out of Israel. They really seem to be concentrated in that jurisdiction.

[7bledin]

That's a good answer to people who ask why we need regulators. And it's exactly what keeps the situation under control. 

[Wasquez]

I'd like to imagine a time where every company owner understands that they should implement anti-fraud systems, so scammers would hold no power over the market. My personal opinion is that everyone would implement a trust chain and actually help with its constant development we could collectively pretty much stop fraud, or at least slow it down considerably. I've personally implemented https://covery.ai/products/trustchain into my company and it was one of the best business decisions that I've made I think from the start of my journey on the market. I dream with open eyes for that day to come.