Exclusive: Sabrina Elofer Sentenced to Prison for Yukom Binary Options Scam

FNG Exclusive…FNG has learned that Sabrina Elofer has been released and placed on home detention for six months after U.S. District Judge Paula Xinis sentenced her to time served in the Yukom Communications binary options scam.

Ms. Elofer 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 led by CEO Lee Elbaz, who is currently serving a 22-year prison sentence in the United States (and was ordered to pay $28 million in restitution) after a 2019 conviction. According to U.S. authorities, Yukom, its brands, and its call centers defrauded U.S. 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 she was hiring clients, was a Yukom employee who worked as a retention agent representing BinaryBook from October 2015 to at least November 2016. At a rehearing on February 2, 2024, Ms. Elofer pleaded 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 sentence of 51 to 63 months in prison under the sentencing guidelines, and the decision to serve her sentence was therefore considered a major victory on her side. Ms. Elofer was represented by defense attorney Todd Spodek, who told FNG:

“We are deeply grateful for the time and consideration Judge Xinis gave us and are thrilled with the incredible difference we have achieved with a sentence commensurate with time already served.”

Other Yukom/BinaryBook/BigOption employees and executives who have been convicted by US courts include:

• On January 2, 2024, Afik Tori Tori was sentenced to 20 months in prison followed by three years of supervised release. In addition, she was ordered to pay $3,580,836 in restitution.
• November 3, 2023, Nissim Alfasi Alfasi was 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.
• October 30, 2023, Ori Maymon Maymon was 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 was 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.
• At his arraignment on April 20, 2023, Hadas Ben Haim pleaded guilty to conspiracy to commit wire fraud.
• On October 26, 2022 The court amended a judgment regarding vs. Elad Bigelman to 36 months in prison, 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 new hearing on March 28, 2024, Oron Montgomery pleaded guilty to conspiracy to commit wire fraud. The conviction for Oron Montgomery is planned for July 19, 2024.