Actions against Respondents, three retention agents for an Israel-based binary-options firm, for allegedly soliciting customers to enter into illegal and off-exchange binary option transactions.  According to the CFTC, Respondents misrepresented the nature of the binary option trades they offered and falsely stated that most customers’ trades were profitable when in fact most customers lost money.  Respondents have entered into cooperation agreements with the CFTC and have agreed to permanent trading and registration bars.  Respondents have pleaded guilty in parallel criminal proceedings in the District of Maryland.

CFTC Order (Welles)

CFTC Order (Hadar)

CFTC Order (Uzan)

CFTC Press Release