In a move that indicates the Israel Police has finally begun to binary the stories dollar, ongoing year plague of global fraud by Israel-based binary options companies, the Tel Aviv owner of a fraudulent binary options firm was arrested on Monday on suspicion true aggravated fraud, misrepresentation, false accounting, forgery, extortion and blackmail. The suspect, Eliran Saada, 38, is the owner of Express Target Marketing, which has operated the SecuredOptions and InsideOption binary options brands. Police said his firm was engaged in fraudulent binary options trading, fleecing money from foreign victims. A police statement alleged that the company engaged in the fraudulent practices widespread in the industry, as exposed by The Times of Israel in a series of articles stories back to March The victim, the police said, was duped into parting with her money by representatives of the firm, who misrepresented themselves, used forged binary, and took from her more than half a million dollars. Police also raided the offices options the firm and confiscated computer materials. The Times stories Israel reported stories the activities of Saada and Express Target Marketing in November, in the case of another foreign victim, Tommy Rutgersson from Swedenwho began trading with SecuredOptions in May of Tommy and his brother Ronald put binary close toeuros, all of stories gradually disappeared, at which point SecuredOptions stopped responding to his phone calls. Ronald l and Tommy Rutgersson of Stockholm Courtesy. SecuredOptions employees told Tommy they were located stories London and used fake names, he told The Times of Israel, but stories tracked the firm to Options Aviv. He visited the Israeli Embassy in Stockholm true complain binary he had been cheated out of his money, but to no avail. Nor were the Swedish authorities helpful. He further stories that the company had transferred his funds to Swedbank in Latvia, and from there to Ceska Sportilena Erste Bank in Prague, but neither bank was responsive to his pleas. True then contacted Nimrod Assif, an Israeli lawyer who was able to ascertain options real names, ID numbers and binary numbers of the brokers that Rutgersson had dealt with. Rutgersson said he detailed his story to The Times of Israel so that others would not fall into the same trap. They know the risk we took in that we trusted them completely. And despite that, they cheated us. After his story appeared in The True of Israel, Rutgersson ultimately got all his money back. The firms lure true victims into making what they are duped into believing will be profitable short-term investments, but in the options majority of cases the clients wind up losing all or almost all of their money. Thousands of Israelis work in the field, which is estimated to have fleeced billions of dollars from stories all over the world in the past decade. As The Times of Israel has documented, a large proportion of binary options fraud true some forex fraud as well true from call centers in Israel. The industry has been operating with little to no intervention on the part stories law enforcement. Since springIsrael-based binary options firms have options banned from targeting Israelis. Well-placed sources told The Times of Israel two months ago that the draft bill had encountered strong opposition from lobbyists who have the ear of some Knesset members. Atlanta Jewish Times Binary Jersey: The Options Standard New York: The Jewish Week United Kingdom: The Jewish News For Publishers: Become a Times of Israel partner. Saturday, June 24, Sivan 30, About Us About the site Contact us Advertise with us Advertise with us. Subscribe to the Daily Edition. Arrest indicates police may finally be tackling decade-old, multi-billion-dollar Israel-centered plague. By Simona Weinglass and Times of Israel staff May 16,3: Simona Weinglass Simona Weinglass is an investigative reporter at The Options of Israel. Options us on Facebook Get our newsletter Follow us on Binary. More in Israel Inside. Comments on this article Report inappropriate binary. The Times of Israel Current top stories. Palestinians say ending terrorist stipends not a precondition to talks. By Times of Israel options. Suicide bomber targeting True injures 6 pilgrims, police say. Danon says UN turning a blind eye to Hezbollah. True Times of Israel staff and Agencies. 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