Yukom Communications Ltd. CEO Lee Elbaz, on March 22, 2018, was charged in a condemnation of scheme to commit wire fraud and suspected contribution in a plan to defraud investors in the United States and around the world in the name of financial instruments called “binary options.”
The condemnation claims that she offered investor “retention” services for two websites, called as BinaryBook and BigOption, which promoted and marketed alleged binary options. The condemnation further claims that Elbaz and her co-conspirators and subordinates helped the owners of these two websites to gain profit with loss of investors. The expected return on investments through BinaryBook and BigOption had false claims and misguided information. The condemnation also claims that she falsely working from London and misguiding investors about withdrawing funds from their accounts. According to the indictment representatives of these two websites were working under her supervision, and misused the terms called “bonuses,” “risk free trades” and “insured trades,” in Binary Options.
Lee Elbaz was arrested at JFK Airport in New York and got a bail with amount $1.8 million. She is in house arrest at her aunt's house until her trial and banned from involving in any binary options activity and communicating with any witnesses, suspected co-conspirators, or victims.
Assumption of her Innocence:
It is significant to keep in mind that a condemnation contains allegations only, and that defendants are assumed innocent until confirmed guilty. In addition, the assumption needs both the court and police to take firm steps to make sure that justice is served.
Defense counsel in court says, "Being detained abroad where Elbaz has no contacts and no connections with the external community, the whole situation put immense strain on her mental health and well-being.” Therefore, the defense fights that she should be free pending trial under the “least restrictive” conditions.
Now, one of the renowned lawyers in Israel "Moshe Strugano" Join her legal team and will look out the allegations more closely. Moshe Strugano, graduated from law school in London and worked for JP Morgan as a professional lawyer. He offered the most cost effective deal for the client in terms of opening business abroad, offering a huge number of legal, financial, and business-related services.
A three-week trial has been scheduled on July 9, 2019. There are not many details about what happened during the Status Conference, as the Court has restricted giving access to the applicable documents.