Two Israelis formerly involved with the scam websites BinaryBook and BigOption have been charged by the United States Justice Department on online investment fraud. Austin Smith, on of the accused, has pleaded guilty while at the same time working on a new company that supposedly provides help to victims in recovering their losses.
This is part of a larger ongoing investigation into the Yukom DEO Lee Albaz who was apprehended by the authorities September 2017. The company Yukom worked tightly with the Israeli binary options firm Numaris Communications for which Austin Smith has admitted is fraudulent and that while working there he himself has committed investment fraud. The two companies owned and operated the websites BinaryBook and BigOption.
Even though Austin Smith himself has come clean about his wrongdoings in the past and underlines the fact he is now strictly legitimate, the US Justice Department are also probing him on a quite generous commission he had received for his supposed “recovery services” with Wealth Recovery International. It turned out that Mr. Smith received a commission of $125,000 from a client for helping him recover losses suffered due to the same website Smith had previously worked – BinaryBook.
All this hype new “recovery services” website have hatched simply due to the decision of the Israeli authorities to prohibit binary options trading in 2017. Of course, after every prohibition a number of people are left without work and many of the crooks and hustlers in the binary industry devised a new swindle – the so-called “Recovery rooms”. It seems as though Austin Smith is doing precisely this through his new company Wealth Recovery International and the American authorities have figured his ill-minded intentions.
We advise traders and investor to steer clear of any such recovery companies no matter how they portray themselves. They usually cold-call victims of scam operations and pray on their vulnerability. Even though they promise that against a small fee the losses will be recovered – no such thing occurs.