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SEC accuses three men of $100 mln binary option scam

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  • SEC accuses three men of $100 mln binary option scam

    Three men managed to squeeze out more than 100 million USD of gullible investors through three binary options websites in what appears to be one of the biggest binary options scams, the U.S. Securities and Exchange Commission (SEC) revealed on Thursday.

    Kai Christian Petersen, Gil Beserglik, and Raz Beserglik used misleading marketing techniques and manipulative call centers, also known as boiler rooms, to convince investors to trade binary options through three websites, reads the official complaint filed in the U.S. District Court for the Central District of California.

    The binary options websites in question – Bloombex Options, Morton Finance, and Starling Capital – were creatively designed and used professionally looking trading platforms to deliberately mislead investors that the brokers are legit.