Law.com Subscribers SAVE 30%
Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
In The Courts
Maryland Jury Convicts Former CEO of Israeli Company for Role In $145 Million Binary Options Fraud
Lee Elbaz, an Israeli citizen and former CEO of Israel-based company Yukom Communications (Yukom), has been found guilty following a three week jury trial in Maryland for her part in orchestrating a global scheme to defraud tens of thousands of investors via the fraudulent sale of $145 million worth of financial instruments known as "binary options." Elbaz, employed as a team leader overseeing sales agents at Yukom in mid-2014 before being promoted to the company's CEO, was convicted on three counts of wire fraud and three counts of conspiracy to commit wire fraud in connection with the scheme. The trial followed her arrest at New York's JFK airport in September 2017.
The scheme related to sales, marketing and investor retention services provided by Yukom to two Web-based businesses, BinaryBook and BigOption, both of which fraudulently sold and marketed binary options to customers globally, including in the U.S.. Binary options involve speculating on the value of a financial asset such as currency or stock at a certain time of day — essentially betting on whether the price will rise or fall within a set period. In return for investing, option holders were promised that they would receive either a pre-determined amount of cash or nothing, depending on the accuracy of their prediction.
This premium content is locked for Entertainment Law & Finance subscribers only
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
- Stay current on the latest information, rulings, regulations, and trends
- Includes practical, must-have information on copyrights, royalties, AI, and more
- Tap into expert guidance from top entertainment lawyers and experts
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Transfer Tax Implications on Real Property Leases
The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.