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Apr. 20, 2021 8:09 PM
The U.S. Securities and Exchange Commission charged the Israeli-based binary options trading company Spot Option with deceiving U.S. investors out of more than $100 million.
The regulatory agency announced the move Monday, saying it filed its complaint in a Nevada federal district court Friday.
The SEC complaint names Spot Option, now called Spot Tech House, and former executives Malhaz Pinhas Patarkazishvili (aka Pini Peter), 45, and Ran Amiran, 50.
Patarkazishvili owned 94% of Spot Option shares until March 2017, when he transferred ownership to his wife, Limor Patarkazishvili. Amiran owned 2.5%.
The firm and the executives sold binary options online to U.S. customers.