Faith will lead us to victory. I want to apply the insurance bonus, and recover losses. But Turbide appeared to no longer believe him. At a. he sent Wellington a copy of a suicide note he planned to leave for his wife, in which he told his family he loved them and blamed 23Traders for pushing him to suicide.

At p. Turbide said he could not answer because his wife was at home. Turbide then asked repeatedly on Skype whether Wellington would return his money, with no response from the broker. It is now PM my time. I am going to take a shower then go to my garage to finish myself off. I am giving you one hour to call me with positive results to put back the money I lost. Unfortunately, not only are these sites not registered to sell securities in Canada, but generally they are fraudulent.

We have and will continue to advise Canadian investors to avoid investing in such schemes, which are often located offshore. com is not licensed to operate in Canada, the regulators said, and was violating the law by transacting with Frederick Turbide.

According to documents seen by The Times of Israel, and sources with knowledge of the company, 23Traders. According to the Israeli corporate registry, I-TLD Management Ltd is owned by Tal Dayagi, whose LinkedIn profile describes him as a partner in the same Schindler CFO Financial Services.

Two partners in the Founders Group, Shalev Hulio and Omri Lavie, are known for developing spyware that can hack into Apple products , which was subsequently reportedly used by foreign governments to attempt to crack down on journalists and dissidents.

In the suicide note he left behind, Turbide expressed love for his family and asked them to bring 23Traders to justice. I am in the garage dead. Do not go there just call the police… Julian, Thomas and David at 23Traders have pushed me to my death.

He met Maria when she was 40 and was raising four kids on her own following a divorce. Tomas described his father as a large-hearted man who provided jobs to the homeless and frequently adopted stray animals.

Frederick even regularly scoops the dog poo to help keep my yard clean. Tomas said his father probably began trading binary options because he wanted to retire and spend more time with his family.

Thousands of Israelis work in the field, which is estimated to have fleeced billions of dollars from victims all over the world in the past decade. The committee chair, MK Karin Elharar Yesh Atid , demanded that the police begin enforcement activity against fraudulent binary options firms in the next month and that the Israel Securities Authority urgently advance legislation to shut down the entire industry.

A follow-up hearing will take place in February, and police have been ordered to attend. I got down on my knees and I asked God to give me someone. I want this scam closed and I want the world to know that they were responsible for taking the love of my life away from me. The company does not disclose any information regarding its clients to any other entity except the client himself or a legally authorized guardian.

Your claims are absolutely false. Kind Regards, 23Traders Customer Support. I joined The Times of Israel after many years covering US and Israeli politics for Hebrew news outlets. I believe responsible coverage of Israeli politicians means presenting a degree view of their words and deeds — not only conveying what occurs, but also what that means in the broader context of Israeli society and the region. I believe Israel is stronger and more democratic when professional journalists do that tough job well.

Your support for our work by joining The Times of Israel Community helps ensure we can continue to do so. So now we have a request. Several former employees and other sources told The Times of Israel that Magnum Options was one of several binary options brands operated by a firm called Rushmore Marketing in Tel Aviv.

The other brands included Traderush, Boss Capital and 10Trade. In the Panama Papers, all three brands are described as being owned by Iuliia Vasylchuk of Netanya, a Ukrainian immigrant to Israel. Before getting involved in binary options.

Rushmore Marketing operated several online casinos, registered under the Cypriot company Isagro Holdings. Isagro Holdings Ltd. was founded in by two other Cypriot companies, Paramac Ltd and Plenexus Ltd. According to numerous articles in the Romanian media, Paramac is owned by a Romanian man named Lucian Badescu and Plenexus is owned by Silviu Bogdan Mihalcea-Calinescu, both of whom were involved in an alleged corruption scheme whereby they bought undervalued energy from the Romanian government and sold it back to the Romanian government for a premium, a feat that was accomplished as a result of their friendly relations with senior Romanian politicians.

By mid, all shares in Isagro Holdings had been transferred to two Israeli men, Naphtali Goldman and Jonathan Siennicki. Goldman was arrested by Israeli police in for operating an online casino that allegedly targeted Israelis. Goldman was eventually cleared of charges, according a press release he published himself. In November , Siennicki became the sole shareholder of Isagro Holdings. He is also the sole shareholder of Rushmore Marketing. The Times of Israel reached out to Siennicki for a response to this article but received no reply.

Curiously, an online search for this bank account reveals that it, or an account by the same name at Bank Pekao, is still actively receiving funds. The same account has been used to accept payments for TD Markets , a binary options and forex trading site, as well as QuadrigaCX , a bitcoin exchange that claims to be based in Vancouver, Canada. There is also a complaint online from a woman who was asked to send money to Valoris HK Ltd. to buy pet pharmaceuticals.

You have refused to wire back my money that was stolen by Magnum Options even though I said I will kill myself. You probably think that legally you have no obligation to give my money back as I gave my money to a company and you have no legal obligation to return my money to me.

However, your government must have a moral obligation to help me. I am not a person to Israel. I am only a non-human target to scam money from with no feelings. The law was approved about a month ago and will go into effect in about two months. A spokeswoman for the Israel Securities Authority said the ISA would be happy to help the British government track down the owners of Magnum Options but would have to receive an official request from the UK Financial Services Authority.

I joined The Times of Israel after many years covering US and Israeli politics for Hebrew news outlets. I believe responsible coverage of Israeli politicians means presenting a degree view of their words and deeds — not only conveying what occurs, but also what that means in the broader context of Israeli society and the region.

I believe Israel is stronger and more democratic when professional journalists do that tough job well. Your support for our work by joining The Times of Israel Community helps ensure we can continue to do so. So now we have a request. But as the journalism we do is costly, we invite readers for whom The Times of Israel has become important to help support our work by joining The Times of Israel Community.

Brian Roxborough and his wife Courtesy. The late Fred Turbide, who took his own life after he was fleeced by an Israeli binary options firm, with his wife Maria Chaves-Turbide Courtesy. Get The Times of Israel's Daily Edition by email and never miss our top stories. Newsletter email address Get it By signing up, you agree to the terms. Illustrative image of bitcoins Courtesy BitsofGold.

Magnum Options website. Brian Roxborough and his wife filing a complaint with Philippines police about binary options fraud Courtesy. The UK Insolvency Service. An ad for an online broker company posted in an Israeli Facebook group November 7, two weeks after a law to ban and criminalize the binary options industry was passed Facebook screenshot.

The Times of Israel has also been contacted by man who lost tens of thousands of euros to another such company called Tradeo, who is also threatening to take his own life. These threats come a year after father of four Fred Turbide took his own life after being fleeced by an Israeli-run binary options firm.

His death, and the testimony arranged by The Times of Israel by his family to a Knesset committee session, played a part in the process that led the Israeli parliament to finally ban the entire binary options industry in October — a ban that comes into effect next month.

In both of the current cases, the men despair of recovering their money and have not been able to identify the ultimate beneficiary owners of the bank accounts where their money ended up. Both men asked The Times of Israel to appeal to the public to help them. Since The Times of Israel began exposing the fraudulent industry, which has fleeced billions from victims around the world for a decade, we have received a steady stream of emails from victims begging for help, detailing how their lives have been ruined and asking for information about the companies that took their money.

The Times of Israel is unaware of any significant effort by Israeli law enforcement to seek the return of any of the stolen billions, and no Israeli has been convicted here to date for binary options fraud. Binary options fraudsters offer the promise of lucrative returns on short-term investments, but in fact employ various ruses — including misrepresentation, manipulation of trading platforms, and refusal to pay out — to fleece their victims.

The Times of Israel has been told by multiple sources that, since the passage of the law outlawing the entire industry, many binary options firms have begun moving their operations abroad. Former operatives and firms, we have been told, have also begun attempting related scams involving cryptocurrencies. The unregulated binary options companies are scamming people around the world and Israel is making a lot of money from fraud created by the binary option companies.

My wife and I lost our life savings last month when Magnum Options shut down their email and web site and stole our money. A retired truck driver, he said he does not know where to turn to get his money back. He said an Israeli lawyer told him that now that many of the companies have shut down, they will not respond to a demand letter, and that victims will have to track down the actual owners and sue them. The Canadian government contacted the police in the Philippines, where Roxborough retired recently, and several Filipino police showed up at his home to make sure he had not carried out his threat, then sent a photo of him back to the Canadians.

Roxborough subsequently said he had not heard from the Israeli police. On October 18, the British government wound up two companies that were being used to operate MagnumOptions.

com and MagnumOptions. These were Hampshire Capital Ventures Limited Hampshire Capital , and its successor, Solaris Vision Ltd, a Bulgarian-registered company,. According to a press release issued by the UK Insolvency Service, 41 complaints were made to British police against Magnum Options in the period February to March Customers were not made aware of terms and conditions at the point of sale.

Those terms and conditions were deemed to be onerous and unfair on customers, requiring them to trade 30 or 40 times their account balances in order to make withdrawals. In particular, it has not yet been possible to establish the details of any bank account used by the companies. On the current information, there is no likelihood that there will be any financial distribution to the creditors.

The UK Insolvency Service told The Times of Israel it would heartily welcome any information the public can provide about the owners and bank accounts behind Magnum Options. Several former employees and other sources told The Times of Israel that Magnum Options was one of several binary options brands operated by a firm called Rushmore Marketing in Tel Aviv.

The other brands included Traderush, Boss Capital and 10Trade. In the Panama Papers, all three brands are described as being owned by Iuliia Vasylchuk of Netanya, a Ukrainian immigrant to Israel. Before getting involved in binary options. Rushmore Marketing operated several online casinos, registered under the Cypriot company Isagro Holdings. Isagro Holdings Ltd. was founded in by two other Cypriot companies, Paramac Ltd and Plenexus Ltd. According to numerous articles in the Romanian media, Paramac is owned by a Romanian man named Lucian Badescu and Plenexus is owned by Silviu Bogdan Mihalcea-Calinescu, both of whom were involved in an alleged corruption scheme whereby they bought undervalued energy from the Romanian government and sold it back to the Romanian government for a premium, a feat that was accomplished as a result of their friendly relations with senior Romanian politicians.

By mid, all shares in Isagro Holdings had been transferred to two Israeli men, Naphtali Goldman and Jonathan Siennicki. Goldman was arrested by Israeli police in for operating an online casino that allegedly targeted Israelis. Goldman was eventually cleared of charges, according a press release he published himself.

In November , Siennicki became the sole shareholder of Isagro Holdings. He is also the sole shareholder of Rushmore Marketing. The Times of Israel reached out to Siennicki for a response to this article but received no reply. Curiously, an online search for this bank account reveals that it, or an account by the same name at Bank Pekao, is still actively receiving funds.

The same account has been used to accept payments for TD Markets , a binary options and forex trading site, as well as QuadrigaCX , a bitcoin exchange that claims to be based in Vancouver, Canada. There is also a complaint online from a woman who was asked to send money to Valoris HK Ltd. to buy pet pharmaceuticals. You have refused to wire back my money that was stolen by Magnum Options even though I said I will kill myself. You probably think that legally you have no obligation to give my money back as I gave my money to a company and you have no legal obligation to return my money to me.

However, your government must have a moral obligation to help me. I am not a person to Israel. I am only a non-human target to scam money from with no feelings. The law was approved about a month ago and will go into effect in about two months. A spokeswoman for the Israel Securities Authority said the ISA would be happy to help the British government track down the owners of Magnum Options but would have to receive an official request from the UK Financial Services Authority.

I joined The Times of Israel after many years covering US and Israeli politics for Hebrew news outlets. I believe responsible coverage of Israeli politicians means presenting a degree view of their words and deeds — not only conveying what occurs, but also what that means in the broader context of Israeli society and the region.

I believe Israel is stronger and more democratic when professional journalists do that tough job well. Your support for our work by joining The Times of Israel Community helps ensure we can continue to do so. So now we have a request. But as the journalism we do is costly, we invite readers for whom The Times of Israel has become important to help support our work by joining The Times of Israel Community.

Brian Roxborough and his wife Courtesy. The late Fred Turbide, who took his own life after he was fleeced by an Israeli binary options firm, with his wife Maria Chaves-Turbide Courtesy. Get The Times of Israel's Daily Edition by email and never miss our top stories. Newsletter email address Get it By signing up, you agree to the terms.

Illustrative image of bitcoins Courtesy BitsofGold. Magnum Options website. Brian Roxborough and his wife filing a complaint with Philippines police about binary options fraud Courtesy. The UK Insolvency Service.

An ad for an online broker company posted in an Israeli Facebook group November 7, two weeks after a law to ban and criminalize the binary options industry was passed Facebook screenshot. Thank you, Tal Schneider, Political Correspondent. Thank you, David Horovitz, Founding Editor of The Times of Israel. Most Popular. Orthodox parties demand legalization of gender-segregated public events. close popup.

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