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Illustrative: Turkish police officers in Istanbul in 2018 (OZAN KOSE/AFP)
September 19, 2026, 5:09 pm
Turkey says nine Israelis arrested amid crackdown on major investment fraud network
Authorities say network led by Israelis and others used multilingual call centers, fake profit reports and overseas crypto wallets to defraud victims worldwide; over 200 arrested
By ToI Staff
Screen capture from undated video of Israeli-Canadian Joshua Cartu. (YouTube. Used in accordance with Clause 27a of the Copyright Law)
August 22, 2024, 3:08 pm
Russia detains Israeli-Canadian citizen wanted in US for fraud
Joshua Cartu wanted for allegedly operating fraudulent binary options trading scam; Moscow says he’ll be charged locally, could face 10 years, extradition not possible
By Reuters and ToI Staff
FTX founder Sam Bankman-Fried leaves the courthouse following his arraignment in New York City on December 22, 2022. (Photo by Ed JONES / AFP)
September 6, 2023, 2:49 am
Before crash, FTX deals with alleged binary options operatives could have raised flags
In 2022, the now-infamous trading firm bought an Israeli-owned company linked to an industry accused of bilking billions from investors. Nobody seemed to notice or care
By Simona Weinglass
SpotOption's Pini Peter at a Chabad event in Cyprus (Facebook)
July 17, 2023, 4:54 am
In unique testimony, binary options kingpin slams ‘stupid’ US law enforcement
‘It was a terrific business,’ Pini Peter says of binary options firm SpotOption, ordered to pay back over $200 million by judge after it mounted no defense against US allegations
By Simona Weinglass
24Option was an official sponsor of the Juventus football club in 2014-2019 (Screenshot)
June 11, 2023, 2:40 pm
Israel drops charges against binary options operative Roey Hayun
After negotiations during a pretrial hearing, money laundering allegations are withdrawn and seized assets returned
By ToI Staff
Employees inside Yukom Communications (Courtesy)
January 15, 2023, 12:56 pm
Israel arrests 6 men wanted by the US over alleged $148m binary options fraud
Former employees of alleged Yukom Communications scam call center taken into custody 4 years after they were indicted by a US grand jury; extradition proceeding begins
By Simona Weinglass
Illustrative: Policemen patrol Eleftherios Venizelos International Airport in Athens, June 15, 2020. (AP/Thanassis Stavrakis)
September 15, 2022, 4:08 pm
Israeli arrested at Greek airport over alleged million-euro scam ring
Ori Nagar, 37, accused of large-scale investment fraud by Germany, latest in string of alleged Israeli investment scammers targeted by prosecutors in Bavaria and elsewhere
By Simona Weinglass
Illustrative: A policeman holds handcuffs. (Yossi Zamir/Flash90)
June 9, 2022, 5:12 pm
Israeli extradited to Germany over alleged part in massive investment scam
Authorities say Yuri Dashevsky is part of an organized gang that from 2015 to 2019 persuaded investors to invest in fictitious financial instruments
By ToI Staff and Simona Weinglass
Celsius CEO Alex Mashinsky in an image from the company's website. (Screenshot)
December 15, 2021, 2:39 pm
Celsius suspends official under probe; 2nd staffer founded firm with money launderer
Crypto-lending firm offers 17% interest, says it manages $26b; citing ‘open dialogue’ with regulators, it says CRO’s side companies unrelated to his job, didn’t require disclosure
By Simona Weinglass
A screenshot of the Tradesolid.com website as it appeared in 2016.
November 2, 2021, 4:23 pm
Court lifts gag order on names of alleged forex scammers wanted in Germany
Germany requesting extradition of Israeli citizens Pavel Kotler, Yuri Dashevsky, Nimrod Blachman and Chen Malka for multimillion-dollar binary options and crypto fraud
By Simona Weinglass
Illustrative: An employee of the Bulgarian call center Dortome BG is handcuffed on October 6, 2021, during a Europol-coordinated raid (Source: Bulgarian Interior Ministry)
October 29, 2021, 6:49 pm
October surprise: Who’s who in the unprecedented wave of investment scam raids
A detailed look at the German-led blitz against alleged Israeli-led online fraud schemes in 6 countries offers a peek at the industry’s tangled webs and the figures being targeted
By Simona Weinglass
Illustrative: German police carrying out a raid on a suspected money laundering ring in Duesseldorf, Germany on October 6, 2021. (AP/Martin Meissner)
October 29, 2021, 6:48 pm
In major shift, Germany begins targeting platforms driving Israel’s online fraud
A rash of raids in 6 countries points to a new strategy: Going after the trading programs that allegedly allow scamsters to keep pushing crypto and other investment cons
By Simona Weinglass
Screenshot of an image used in SpotOption's promotional material
October 4, 2021, 1:04 pm
Insider filmed saying top binary options platform rigged, boosting victims’ suit
Detectives obtain footage of ex-industry executive alleging SpotOption software was tilted against investors; clip to be used as evidence in class-action lawsuit filed in Tel Aviv
By Simona Weinglass
Illustrative. Money and a gavel. (alefexe/iStock by Getty Images; illustration by Joshua Davidovich)
August 2, 2021, 3:03 am
Foreigners file slew of lawsuits against alleged Israeli investment scammers
People who say they lost large sums to fraudulent trading firms are seeking justice in civil court, though they face webs of shell companies and opaque ownership structures
By Simona Weinglass
Employees of JMRB Media recruit new employees at an "Israel Multilingual Job Fair" in Tel Aviv, January 29, 2016 (Facebook screenshot)
July 29, 2021, 3:14 pm
2 North American ‘idealistic immigrants’ charged with close to $50 million fraud
US Securities and Exchange Commission alleges US-Israeli Ronn Ben Harav and Canadian-Israeli Jonathan Mimun owned and ran binary options websites that stole retirees’ savings
By Simona Weinglass
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