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Federal Court Orders International Enterprise to Pay Over $451 Million for Global Binary Options Fraud

Excerpt:  “The Commodity Futures Trading Commission today announced the U.S. District Court for Northern District of Illinois issued an order of default judgment against five offshore entities and three individuals, finding them liable for fraud and other violations of the Commodity Exchange Act and CFTC regulations in connection with a global retail binary options fraud that victimized U.S. residents. The defendants executed their unlawful scheme through internet websites using fictitious trade names such as BigOption, BinaryBook, and BinaryOnline.”