Three Canadian-Israeli brothers were recently incriminated by the Ontario Securities Commission (OSC) for an enormous binary options scam – apparently they scammed over 700 local investors out of $1.4 million.
The three brothers - Joshua Cartu, Jonathan Cartu and David Cartu – allegedly operated out of a call centre in Tel Aviv, Israel, and controlled two binary options brands called Beeoption and Glenridge Capital.
The scam has been in operation for a long time – since 2014 and between that year and 2017 it profited about $225 million from many investors around the world. Naturally, money invested in these brands could not be withdrawn.
Why are there so many binary options scams coming from Israel? They seem to be quite prevalent in that jurisdiction.