High-end shops, art galleries and clubs have popped up to cater to an international clientele of expatriates from places like France, North America and the former Soviet Union. According to people who know him, Josh Cartu mingled with the Tel Aviv glitterati, attending sports car racing events and dating models.

The eldest Cartu brother has become a celebrity abroad as well, racing Ferraris and acquiring almost a million followers on Instagram. An August Huffington Post blog post featured an interview with Cartu at his home in Budapest. He took the finance side of the business to a completely different level and created a business within a business: and that became one of the biggest things we do.

The Times of Israel was unable to ascertain where in the world the Cartu brothers currently reside, although one brother is believed to be in Canada, a source told The Times of Israel. A hearing in the enforcement proceeding has been scheduled for June 11, , by teleconference. I joined The Times of Israel after many years covering US and Israeli politics for Hebrew news outlets. I believe responsible coverage of Israeli politicians means presenting a degree view of their words and deeds — not only conveying what occurs, but also what that means in the broader context of Israeli society and the region.

I believe Israel is stronger and more democratic when professional journalists do that tough job well. Your support for our work by joining The Times of Israel Community helps ensure we can continue to do so. So now we have a request. But as the journalism we do is costly, we invite readers for whom The Times of Israel has become important to help support our work by joining The Times of Israel Community.

Josh Cartu l and his brother David Cartu in a screenshot from a video in which they drove a Ferrari together Vimeo screenshot. Sign up for the Tech Israel Daily and never miss Israel's top tech stories. Newsletter email address Subscribe By signing up, you agree to the terms. At the hearing, only David Cartu was represented by but not his brothers Jonathan and Joshua.

Nothing is known at this time about the progress of the U. FinTelegram has been contacted several times by investigators representing U. whistleblowers in this matter. Apparently, however, no trial date has been set yet. In the meantime, we are following the money trail with the support of our whistleblowers. Besides the Yukom Case surrounding Lee Elbaz and their bosses Yossi Herzog and Kobi Cohen in the U.

and the Vienna Cybercrime Trials surrounding Gal Barak , the Cartu brothers and their Irish GreyMountain Management Ltd GMM are certainly the most prominent court cases at the moment in the unraveling of the fraudulent Israeli binary options industry. Lee Elbaz and Gal Barak have already been convicted and are in prison in the U.

and Austria, respectively. Yossi Herzog and Kobi Cohen are on the run, and prosecutors have not yet charged the Cartu Brothers. The CFTC and OSC fraud charges are not currently criminal cases. It will be an exciting Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. Twelve Canadians -- five crew members and seven passengers of a Pivot air flight -- who have been detained in the Dominican Republic since last spring, learned Friday that they are going home.

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Interior, a snowfall warning is in effect for a stretch of the Coquihalla Highway. Foreign Affairs Minister Melanie Joly is announcing new sanctions on Belarus today in response to its support for Russia's war on Ukraine. Saying in a statement that Belarusian leadership is enabling human-rights violations and allowing the country to serve as a launching pad for Russia's attacks.

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Ford is recalling more than , F vehicles in the U. and Canada because the front windshield wiper motor may stop functioning, causing the wipers to stop working. Skip to main content. Search Search CTV News Close. Canadian racing driver and Instagram influencer accused of 'massive fraudulent' scheme that defrauded investors of millions. View this post on Instagram. MORE NEWS FROM CANADA Lawyer representing 'Freedom Convoy' at Emergencies Act inquiry removed from proceedings.

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It is a court season for the fraudulent binary options industry and its perpetrators. Among the worst scammers were David Cartu and his brothers. After the Canadian regulator OSC had already sued them for binary options fraud, the U. Commodity Futures Trading Commission CFTC filed a civil enforcement action. The CFTC complaint charges that from at least May 1, , through April 29, , the three Canadian Cartu brothers — David Cartu , Jonathan Cartu , and Joshua Cartu — marketed, offered, and sold illegal, off-exchange binary options to retail customers using the brands BeeOptions , Glenridge Capital , and Rumelia Capital.

David Cartu picture below left and Joshua Cartu picture right are known for their passion for Ferraris and an expensive lifestyle. Joshua lives the life of a celebrity in Hungary. He races with the AFCorse Ferrari team and is the Hungarian National Ambassador to special olympics. The Cartu brothers, along with a pair of Canadian brothers living in Israel, Leeav Peretz and Nati Peretz , operated call centers boiler rooms primarily located in Israel that targeted and victimized U.

At the direction of the Cartu and Peretz brothers, their websites and boiler room agents solicited U. customers falsely represented their financial expertise, compensation structure, physical location, and identity. These boiler room agents also falsely claimed that the offered binary options transactions were profitable when the majority of customers lost money. David Cartu was the founder and CEO of the Irish registered GreyMountain Management Ltd GMM which was a close partner of the now collapsed Wirecard.

As a third party acquirer of Wirecard and other payment processors, GMM has acquired dozens of Binary Options Scams as customers. Many of these scams have used the white label solution of Worldwide Tech Limited. This company was managed by Uri Katz , a close partner of David Cartu.

GMM is also mentioned in the CFTC complaint. In order to facilitate the transfer of funds from customers in the U. The Cartu Brothers and Masten also utilized GMM to distribute profits generated by the Cartu Platform. Between September and January ,. The CFTC seeks disgorgement of ill-gotten gains, civil monetary penalties, restitution for the benefit of customers, permanent registration and trading bans, and a permanent injunction from future violations of the Commodity Exchange Act as charged.

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Press Esc to cancel. Skip to content. Spread financial intelligence. Share information with FinTelegram. Categories Court Cases Cybercrime Illegal Broker Activities Illegal Payment Services Money Laundering. Post Comment Δ. Related Posts F. Categories Bankruptcies Crypto Schemes ticker. Much money was also spent on private purposes and luxury real estate. Read More.

Categories People Social Media. There would now be too much chaos at the company. The reopening of prominent accounts such as Donald Trump realDonaldTrump or Kanye West KanyeWest has also caused outrage. The fact is that Twitter has never had as many active users as it has since Musk took over. In the last few weeks alone, 1.

Categories Bankruptcies Crypto Schemes. The troubled U. crypto lender Genesis said it has no immediate plans to file for bankruptcy after the FTX collapse forced it to suspend customer redemptions. A report from Bloomberg News said Genesis was struggling to raise fresh cash for its lending unit. The lender has approached crypto Binance for investment and to bid for its loan book, according to people familiar with the matter. However, Binance decided not to invest.

Next: Binary Options Court Season — The Great Manipulation Game. Reading: Binary options fraud — Notorious Cartu Brothers charged by U. Search for: Search Begin typing your search above and press return to search.

Reading: Binary options fraud — Notorious Cartu Brothers charged by U. He shared shots of himself sitting on a remote beach in the Pacific Islands, yachting in the Persian Gulf and crushing champagne in Miami. Please try again or choose an option below. In May of , Josh emailed FinTelegram News , a crowdsourced intelligence site that aims to protect investors from scams, pleading his innocence and publicly turning on Jonathan and David. Josh Cartu and his brothers collected race cars, hung out with celebrities and bounced between luxury villas in private jets. Begin typing your search above and press return to search. When the video ended, a phone number appeared on her screen.

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