Binary Options Sales Rep Gets 14 Months For $145M Fraud

Law360, Greenbelt, Md. (September 20, 2019, 5:13 PM EDT) -- A former sales representative in the binary options industry was sentenced to 14 months in prison Friday morning for her role in a $145 million investment scam based out of Israel.

California native Liora Welles, who is a dual American and Israeli citizen, burst into tears when U.S. District Judge Theodore D. Chuang read out her sentence in the small Maryland federal courtroom, as she and her defense attorney had lobbied for leniency based on Welles’ age at the time of her crimes, her early cooperation with the government investigation and the responsibility she took for her conduct.

Judge Chuang told...

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