Binary Options Trading Fraud Raids in Bulgaria Lead to €30 Million Seizure

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Bulgarian authorities conducted a major operation to break a binary options trading scam. The broker conducting this scam, however, also offered other financial services. Authorities discovered that the scammers stole some 30 million euro from their victims, who were citizens from countries all over Europe.
Bulgarian authorities searched a total of 21 different locations – company offices, houses and call centers all over the country. The raid, according to the Bulgarian Attorney General, was conducted on May 11th and it was a result of collaboration between local authorities Eurojust, an international crime-fighting agency.
Authorities confiscated 68 computers, 19 phones, 43 memory cards, documents, files, narcotic substances and various other items during the raid and arrested five people – three Bulgarians and two foreign citizens. The mastermind behind the whole scam was born in Israel and attempted to flee Bulgaria but was arrested before he succeeded.
Another binary options scam has gone down, an infinite number more to go. Still, this is a win.


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