On Monday, another Boiler Room agent from the Yukom scheme was sentenced in the USA. New York-born Israeli Yair Hadar was sentenced to 8 months in prison, $1.2 million in restitution and 100 hours community service. Law360 reported on the sentencing last night.
U.S. District Judge Theodore D. Chuang gave Yair Hadar an eight-month prison sentence for his participation in
I wish you could have seen what this has done to the victims. In some ways, stealing from an office is worse than stealing from someone on the street.Judge Theodore D. Chuang
After his prison time, Hadar will be required to complete 100 hours of community service and will have to pay back $1.2 million in restitution jointly with Elbaz.
Lee Elbaz, the CEO of the Yukom scheme has been found guilty of binary options fraud by a gr
Prison times for binary options perpetrators
- Last week, the California-born Israeli Liora Welles was sentenced to 14 months in prison and a restitution payment of more than $2.2 million with Judge Chuang saying that she was particularly effective at coaxing money out of her victims.
- Early September 2019, the Israeli Lissa Mel has been sentenced to 12 months in prison and a restitution payment of more than $288,000.
The two beneficial owners of the Yukom schema, Yossi Herzog and Kobi Cohen, are also indicted. As the news site ThisIsMoney reported, Herzog and Cohen financed a luxurious life with the millions of small investors. The two are not currently in the USA.