Boiler rooms are at the center of the fraudulent broker schemes. It is the employees of these boiler rooms who ensure that retail investors lose their money. They knowingly and willfully lie to these retail investors and promise them unrealistically high returns. For this, they are rewarded with high commissions. While retail investors are desperate to lose their savings, the boiler room agents are celebrating their forays. Boiler Room employees are co-conspirators and perpetrators that must be held accountable.
The video footage shows a celebration of the boiler room employees of the Israeli company MigFin ( MIG G.A. Finance Ltd later renamed into Gtech Media Development Ltd) by Guy Galboiz. The latter was one of the big perpetrators behind the fraudulent Israeli binary options industry between 2013 to 2017. The video was shot in 2015 at the height of binary options fraud. The employees of these boiler rooms received commissions when they took money from small investors by lying. These alleged Israeli binary options fraud cases such as BinaryBook or BigOption are currently before the courts in the U.S. and the EU. We expect further indictments and convictions in the U.S. and EU in 2019.
Guy Galboiz and his MigFin (Gtech) are linked to some of the big illegal and fraudulent binary options schemes like
FinTelegram will report in detail about these Israeli binary options fraud schemes and their payment service providers (PSP) over the next weeks. Stay tuned.