- Thousands of individuals targeted by the binary options scheme
- Companies lure victims by scam emails and high-pressure salesmen then charge their credit cards without authorization
- Some individuals cheated out of up to £200,000 with suicides reported
- Both businesses implicated in the scheme still up and running
Israeli call centers are reportedly behind a binary options investment scam where staff were ordered to “rape clients out of their cash”. According to the Daily Mail, thousands of Britons, including many pensioners, lost millions of pounds in the secret fraud.
The binary options involved were AA Option and Inside Option, both still in operation.
From the Daily Mail:
Companies lure victims by scam emails, with high-pressure salesmen persuading responders to invest small sums such as £250.
A second team then lean on these investors to put in thousands more. Meanwhile further thousands are charged to their credit cards without authorisation.
Some of the victims of the scheme are believed to have committed suicide with single-investor losses totaling up to £200,000.
Binary option investments involve betting on whether financial assets, such as shares, currencies or commodities, will rise or fall over a time period. They are regulated or banned in many countries, including the US and UK. Britons, however, are more exposed as companies registered in an EU country can technically target those living in the United Kingdom.
The Daily Mail determined that InsideOption.com’s domain is registered to a Turkish businessman, Emir Yedibaslar, who operates from the Israeli call centers.
It’s website reads: “TAKE ADVANTAGE OF THE MARKETS WITH THE INSIDE TRACK: With our inside knowledge of the financial markets and our dedication to profits, we are looking forward to helping you crack the code and become a profitable trader.”
- Aaron Goldstein, Gambling911.com