The US Commodity and Futures Exchange Commission (CFTC), in a purported binary option and Crypto scam, has charged the executives of multiple firms of America and Israel. The binary option scam according to the <a href="https://www.courtlistener.com/docket/17130780/1/commodity-futures-trading-commission-v-fingerhut/">papers filed</a> was for 3 years between October 2013 and November 2016. The other one involving the top cryptocurrencies lasted almost five years between November 2013 and August 2018.

Itay Barak and Tal Valariola, two Israeli firms have been charged by the CFTC for providing a helping hand in creating fake ads and misleading inversely scheme to the US bases All in Publishing (AIP)  firm.

The fake promotions were presented to both US and international investors and over 50,000 people fell victim to it by opening a binary account and donating in excess of $13 million. The Crypto scam was less in magnitude and smaller in scale and a total of 8,043 digital accounts were opened which donated almost $2 million.

The All in Publishing firm gained prominence by generating fake success stories of customers who invested in its platform.  They showed the kind of luxurious lifestyle that made people prone to the marketing gimmick and ended up putting their money on the line.

The firm was strategic in its approach to lure the customers and invested $50,000 to create videos to promote the misleading binary options content. While for the Crypto scam, they relied on the traditional email which had the autoresponders feature enabled.
<h2>CFTC Calls For a Financial Penalty</h2>
The CFTC find the defendants guilty on four accounts and not only are they requesting the count to pass an order of financial disgorgement but also seize their commodities-related business activities. The Crypto scam has gone grown massively over the last few years and in the US both SEC and CFTC are trying to help the customers from getting duped.
<blockquote class="twitter-tweet">
If someone in an online group or chat is promising to make you thousands of dollars in 24 hours or less, it’s a scam. <a href="https://twitter.com/hashtag/LearnAndProtect?src=hash&amp;ref_src=twsrc%5Etfw">#LearnAndProtect</a> yourself from fraud <a href="https://twitter.com/CFTC?ref_src=twsrc%5Etfw">@CFTC</a>. <a href="https://t.co/te65Ax9bPI">https://t.co/te65Ax9bPI</a>
— CFTC (@CFTC) <a href="https://twitter.com/CFTC/status/1256310449072726016?ref_src=twsrc%5Etfw">May 1, 2020</a></blockquote>
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CFTC Charges Firm Involved in Binary Options And Crypto Scams

CFTC has found two Israeli firms guilty in helping the All in Publishing (AIP) firm in creating misleading content to dupe customers of $15 million.

Zain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.

CFTC Charges Firm Involved in Binary Options And Crypto Scams

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