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Banxso’s link to the Banc de Binary scam
Jun 27, 2024
Trading platform owner is benefitting from deep fake ads linked to the historic international binary options scheme.
Banc de Binary founder Oren Shabat Laurent. At its peak the platform claimed to be the most prominent binary options trader in the world. Image: Supplied
The controversial Cape Town-based trading platform Banxso has strong links to one of the world’s largest international binary options scams operating between 2010 and 2017.
The scam was Banc de Binary, which financial regulators worldwide banned from operating in their countries. At the same time, the American and Cyprian regulators fined the company record amounts, while an international law firm instituted a class action against the company after it ceased operations in 2017.
A Moneyweb investigation found that Banxso’s owner and director, Harel Adam Sekler, was a director and owner of a company that operated the Banc de Binary scam in various jurisdictions worldwide, including Australia, New Zealand, Belize and Canada.
During numerous interactions between Moneyweb and Banxso, Sekler vehemently denied any involvement or link with Banc de Binary and questioned the authenticity of the documentation indicating his direct involvement. However, Moneyweb sourced three documents from different sources, which prove otherwise. (Sekler’s full communication appears below.)
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