WEBMASTER NEWS
CALIFORNIAN CHARGED OVER $16M BINARY OPTIONS FRAUD
A MAN ACCUSED of illegally
operating binary options affiliate websites
from California has been charged by
US authorities.
Jason Scharf ’s sites, believed to have
generated $16m (€14m) from 8,000
customers, were said to be illicitly referring
clients to binary options brokers via
several offshore businesses.
Scharf, of Valley Village, California,
was charged by the US Commodity Futures
Trading Commission (CFTC) over his
involvement with CIT Investments LLC
in Nevada, Brevspand EOOD in Bulgaria,
CIT Investments Ltd in the Marshall
Islands, CIT Investments Ltd in Anguilla
and A & J Media Partners, Inc, which is a
California corporation.
Scharf and his associates are said
to have begun their illicit operations
in 2014 and are accused of scamming
potential customers through fraudulent
ad campaigns to purchase binary options
trading systems. Clients that showed an
interest in the product were redirected
to the binary options brokers like those
operated by Scharf.
They were then asked to open binary
options accounts with false claims of
outsized profits and “guaranteed returns”
in trading binary options.
James McDonald, the CFTC director
of enforcement, said: “The CFTC
continues to be committed to rooting out
and prosecuting binary options fraud in
our markets. As alleged, the fraudulent
scheme here involved false claims of
outsized profits, fake testimonials, and
‘guaranteed’ returns.
“The scheme, as alleged, was massive,
resulting in the misappropriation of over
$16m from more than 8,000 customers.
This action should send a message to
would-be fraudsters that the sort of
conduct alleged here will not be
tolerated. We thank our international
law enforcement partners for their
assistance in this case.”
A court hearing has been scheduled for
July 26 to enter an order for a preliminary
injunction against the defendants.
BETFRED TO LAUNCH FOREX, CFDS TRADING WEBSITE
BETFRED IS TO EXPAND its service
offering into the Forex and CFDs trading
market with the launch of TradeFred.
The new online platform, which
officially went live this week, is the result
of a partnership between Betfred and
Vanuatu-registered MagicPath Capital.
According to Leaprate.com,
MagicPath is listed as the owner of the
TradeFred brand, while Betfred serves as
a technology provider.
At present, although TradeFred describes
itself as a “multi-national company with
offices around the world”, it only holds a
licence issued by the Vanuatu Financial
Services Commission and is not cleared for
operations in the UK or Europe.
However, TradeFred also lists an English
company called PathMagic Capital on its
website and said that this is the “entity
of where the merchant has an additional
permanent location and conducts business
activities in Europe”.
TradeFred also said on its website: “We
always have our finger on the pulse of
each and every new development, and are
committed to updating our services to reflect
the latest technological advancements.
“This ensures we are able to keep up
with the rapidly-changing Forex and
CFD markets and deliver a seamless
trading experience.”
The launch comes shortly after Betfred
also moved the social gaming sector by
launching a new mobile application in
partnership with Caleta Gaming.
BET9JA BROKERS AFFILIATE PARTNERSHIP WITH INCOME ACCESS
NIGERIA-BASED online gambling
operator Bet9ja has launched a new affiliate
programme in partnership with Paysafe-
owned Income Access.
Bet9ja and Income Access will now
work together to encourage affiliates
based in Europe, Asia and the US to
make the most of online gambling traffic
in Africa.
Affiliates that sign up to the new
initiative will benefit from a 50% revenue
share during the first month of joining.
In addition, affiliates will have access
to a dedicated affiliate manager to provide
further support.
Tunji Meshioye, marketing manager at
Bet9ja, said: “Bet9ja is among the highest
ranked gaming sites worldwide and we feel
that our affiliates deserve a platform that is
equally awesome.
“Partnering with Income Access allows
for a much smoother affiliate experience
all round.”
Lorenzo Pellegrino, chief executive,
digital wallets at Income Access, added:
“We’re very proud to partner with the
Bet9ja brand; not only do they provide a
quality product for their online customers
but they’re also committed to the growth
and success of local sports.”
BWIN ROLLS OUT NEW-LOOK ONLINE CASINO
BWIN HAS UNVEILED an updated
version of its casino platform, which it
said has been designed to create a more
“immersive player experience”.
New features included a redesigned
layout, enhanced game icons with
rollover effect transitions and a
‘Game View’, which allows games to
be launched it either in embedded or
breakout modes.
Other changes include improved grid
categorisation for better sorting of game
formats and features, a separate live casino
category, harmonisation of mobile and
desktop experiences, as well as enhanced
promotional and SEO tools.
Paris Anatolitis, head of casino and
gaming at bwin, said: “We’ve spent much
of the past year improving the product
offering at bwin casino, today we are
delighted to unveil a new website that
reflects the quality of the product.
“We hope our players will love the new
casino experience as much as we do.”
iGB Affiliate Issue 64 AUG/SEP 2017
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