Exclusive FNG… FNG has learned that Sabrina Elofer has been released on six months of house arrest after US District Judge Paula Xinis sentenced her to prison in the Yukom Communications binary options scam.
Ms. Elofer also agreed to pay more than $2.9 million in restitution, according to her plea agreement.
Yukom, which operated several binary options brands including BinaryBook and BigOption, was run by CEO Lee Elbaz, who is now serving a 22-year prison sentence in the US (and had to pay $28 million in restitution) after being convicted 2019. According to US authorities, Yukom and its brands and call centers defrauded American citizens and others of more than $100 million through websites that purported to be trading platforms for binary options investments.
Sabrina Elofer, who also went by the name Mila Morales when recruiting clients, was an employee at Yukom working as a retention agent representing BinaryBook from October 2015 through at least November 2016. At a reassignment hearing on February 2, 2024, Ms. Elofer She pleaded guilty to conspiracy to commit wire fraud and was sentenced by Judge Xinis on June 28 in the United States District Court – District of Maryland.
Apparently Sabrina Elofer was facing a possible sentence of 51-63 months under the sentencing guidelines, so the decision to estimate time was seen as a major victory on her part. Ms. Elofer was represented by defense attorney Todd Spodek, who told FNG,
“We deeply appreciate the time and consideration Judge Xinis gave us and are ecstatic about the incredible difference we made with the time sentencing.”
Other Yukom / BinaryBook / BigOption employees and directors convicted by US courts include:
- On January 2, 2024, Afik Tori sentenced to 20 months in prison followed by three years of supervised release. In addition, Tori was ordered to pay $3,580,836 in restitution.
- On November 3, 2023, My name is Alfasi sentenced to 18 months in prison, followed by three years of supervised release. In addition, Alfasi was ordered to pay $4,679,527 in restitution.
- On 30 October 2023, Ori Memon sentenced to 36 months in prison followed by three years of supervised release. In addition, Maymon was ordered to pay $1,899,074 in restitution.
- On October 20, 2023, Gilad Mazugi sentenced to 10 months in prison followed by three years of supervised release. In addition, Mazugi was ordered to pay $1,531,341 in restitution.
- In her court on April 20, 2023, Hadas Ben Chaim pleaded guilty to conspiracy to commit wire fraud.
- On October 26, 2022 the court modified the judgment as to vs. You live in Bigelman to 36 months in prison, 3 years supervised release, $100 court assessment and $3,766,449 in restitution jointly with co-conspirator, Lee Elbaz.
- At a reassignment hearing on March 28, 2024, Oron Montgomery pleaded guilty to conspiracy to commit wire fraud. The conviction for Oron Montgomery is set to July 19, 2024.