FNG Exclusive… FNG has learned that Sabrina Elofer has been released to six months of home confinement, after United States District Judge Paula Xinis sentenced her to time served, in the Yukom Communications binary options scam.
Ms. Elofer has also agreed to pay more than $2.9 million in restitution, pursuant 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 sentence in the US (and was required to pay $28 million in restitution) following a 2019 conviction. According to US authorities, Yukom and its brands and call centers defrauded American citizens and others of more than $100 million through websites which were supposed to be trading platforms for binary options investments.
Sabrina Elofer, who also went by the name Mila Morales when engaging clients, was an employee at Yukom who worked as a retention agent representing BinaryBook from October 2015 through at least November 2016. At a rearraignment hearing on February 2, 2024, Ms. Elofer pled guilty to conspiracy to commit wire fraud, and she 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 between 51-63 months based on sentencing guidelines, so the time-served ruling was viewed as a major victory by her side. Ms. Elofer was represented by defense attorney Todd Spodek, who said to FNG,
“We are deeply appreciative of the time and consideration afforded to us by Judge Xinis and are ecstatic about the incredible variance we obtained with a sentence of time served.”
Other Yukom / BinaryBook / BigOption employees and principals who have been sentenced by US courts include:
- On January 2, 2024, Afik Tori was sentenced to 20 months of imprisonment to be followed by three years of supervised release. In addition, Tori was ordered to pay $3,580,836 in restitution.
- On November 3, 2023, Nissim Alfasi was sentenced to 18 months of imprisonment to be followed by three years of supervised release. In addition, Alfasi was ordered to pay $4,679,527 in restitution.
- On October 30, 2023, Ori Maymon was sentenced to 36 months of imprisonment to be 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 was sentenced to 10 months of imprisonment to be followed by three years of supervised release. In addition, Mazugi was ordered to pay $1,531,341 in restitution.
- At her arraignment on April 20, 2023, Hadas Ben Haim pled guilty to conspiracy to commit wire fraud.
- On October 26, 2022 court amended a judgement as to vs. Elad Bigelman to 36 months of imprisonment, 3 years of supervised release, $100 court assessment and $3,766,449 in restitution on a joint and several basis with co-conspirator, Lee Elbaz.
- At a rearraignment hearing on March 28, 2024, Oron Montgomery pled guilty to conspiracy to commit wire fraud. The sentencing for Oron Montgomery is set for to July 19, 2024.
