Binary Options Boss Convicted Of Role In $145M Fraud Scam

Law360 (August 7, 2019, 7:15 PM EDT) -- Israeli binary options executive Lee Elbaz was found guilty of wire fraud Wednesday for the part she played in a $145 million investment scam that targeted overseas investors.

After nearly three weeks of trial and several tumultuous days of deliberations, a Maryland federal jury convicted Elbaz on all the counts federal prosecutors had leveled against her for the yearslong plot.

Prosecutors charged the 38-year-old with three counts of wire fraud and one count of conspiracy to commit wire fraud for tricking investors into plugging millions into binary options — a type of investment that can function as a bet on the...

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