Eliran Saada, owner of Secured Options and Inside Options binary options brokers, has been arrested by the Israeli police following a complaint from one of their clients who suffered investment losses of over $500,000. Eliran Saada stands accused of fraud, false registration, threats and extortion.
Giambrone has been active in lobbying the regulating authorities and law enforcement agencies across the world, often in collaboration with investigative journalists, in drawing attention to the scale of losses suffered at the hands of fraudulent brokers perpetrating financial frauds against uninformed and inexperienced targets. These actions have produced some significant victories, in that the domestic sale of binary options was banned in Israel in 2016, followed by a draft law, which is pending parliamentary approval in Israel, to prevent the sales of such investments abroad.
"Giambrone has many clients who have suffered at the hands of Secured Options and Inside Options amounting to over $950,000 in scammed funds" - Joanna Bailey who heads Giambrone’s banking and financial fraud department says - “this is very good news, perhaps now the fraudulent brokers and their staff will realise that there are consequences to their actions and that they need to pay back the money taken and stop their illegal dealings before the same thing happens to them” she further commented “Giambrone does not intend to stop the relentless lobbying on behalf of our clients until the regulating authorities recognise that they must take a firm line with these brokers and shut them down”
In September one of the largest brokers, Banc de Binary, was forced to close its doors after the unremitting lobbying, lead by Giambrone, made it impossible for the firm to continue.
The Israeli law enforcement agencies are now cracking down on the fraudsters and taking action to against the owners and in some cases, the staff involved in these high-pressure scams. Giambrone hopes this arrest will have a deterrent effect both on the existing fraudulent brokers and any future companies.
The banking and financial litigation lawyers at Giambrone hold an undisputed record of successes in retrieving lost investments for our clients. Our relentless activity, combined with their strategy has led to the full compensation of clients’ funds in class actions against companies such as Telexfree and TIRN.
If you believe to have been the victim of a binary option scam, do not hesitate to contact us at email@example.com or telephone +44 (0) 203 102 9482. Our lawyers help you retrieve your funds.