menu

Homepage > News > Bulgarian authorities annihilated a group of scammers offering binary options

Bulgarian authorities annihilated a group of scammers offering binary options


Bulgarian authorities have recently launched a large-scale action against an organized crime group that has been involved in financial fraud involving binary options and other risky instruments. It is estimated that the group swindled around EUR 30 million from investors. According to the official statement of the Bulgarian general prosecutor, the prosecution service and the local unit for combating organized crime took part in the action.

During the coordinated action, authorities searched 21 premises, including call centers, company offices, and homes in three Bulgarian cities: Sofia, Mezdra, and Varna. As a result of the raid, 68 computers, 43 storage media, 19 mobile phones, many valuable items, and many financial and other documents were confiscated. In addition, the authorities detained five people, including two foreigners, who were related to the group’s activities. The group’s leader is an Israeli citizen who was captured while trying to flee Bulgaria.

Bulgarian law enforcement officers found narcotic substances with the detainees. The Group conducted its activities in many countries, mainly in Europe. The investigation, led by Eurojust, was conducted by seven countries: Germany, North Macedonia, Spain, Poland, Sweden, Israel, and Bulgaria. The investigation conducted by the German authorities, which investigated work against a criminal group in Bulgaria, played a crucial role in apprehending the perpetrators. All collected evidence will be forwarded to the German authorities.

Regulators are declaring war on binary options

Authorities worldwide are increasingly strict with binary options operators due to the number of frauds carried out using this risky financial instrument. The matter of binary options is high-profile, among others in the United States, where the financial regulator accused Spot Option and its Israeli operators, Pini Peter and Ran Amiran, of fraud to the detriment of thousands of US citizens. Australia, in turn, has introduced a total ban on offering binary options on its market.

Author: Izabela Kamionka

Are you a trader?

Help others and rate your broker! Use the search engine or find your broker on the list.



Ad:
exante baner

Last news:

Robinhood broker

The SEC publishes a plan to distribute funds from the financial penalty imposed on Robinhood

The US Securities and Exchange Commission (SEC) released a plan to distribute a $ 65 ...
Read More
Russia's central bank has enacted new customer categories

Top Forex brokers are blacklisted by the Bank of Russia

The blacklist, published yesterday by the Bank of Russia, includes 1,820 companies whose activities were ...
Read More
usgfx with deficiencies in the account

ASIC imposes a penalty on the former director of USGFX

John Carlton Martin, director, and former manager of bankrupt Union Standard International Group Pty Ltd ...
Read More
UE flags

EU authorities impose a EUR 6.45 million penalty on ICAP

EU competition authorities have fined ICAP, the world's largest inter-dealer broker, with a EUR 6.45 ...
Read More

Add a comment

Your email address will not be published. Required fields are marked *

 

Note: Opinions and posts on ForexRev.com represent personal opinions and views of their respective authors and should not be interpreted as recommendations to purchase or sell securities. ForexRev.org assumes no responsibility or liability for such content.
Go to top