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Fraudulent binary options scheme participants ordered to pay CFTC $451m

Hand ready to flip coin. Blue background.
Photo: Getty Images/Slobo

The investment fraud, which operated out of a scam call center in Israel, stole millions from unaware customers.

The CFTC has announced that a Northern District of Illinois federal judge issued a default judgment against a collection of commodities dealers and companies. The defendants were charged with operating a fraudulent offshore binary option scheme.

The defendants in the CFTC action included four Israeli citizens who participated in the