Business News: SEC Charges Owner of Options Trading Website for Defrauding Retail Investors

Business News: SEC Charges Owner of Options Trading Website for Defrauding Retail Investors

Securities and Exchange Commission v. Mark Suleymanov, No. 2:18-cv-06854 (E.D.N.Y. filed December 3, 2018)

WASHINGTON – The Securities and Exchange Commission today charged Mark Suleymanov of Glen Cove, New York with engaging in an online binary options scheme that defrauded retail investors out of approximately $4 million.

The SEC’s complaint alleges that from at least 2012 to 2016, Suleymanov engaged in the unregistered offer and sale of binary options, which are securities that pay out depending on the outcome of a “yes/no” proposition, such as whether a specific equity security will close at or above a specified price on a given trading day. 

Continue reading Business News: SEC Charges Owner of Options Trading Website for Defrauding Retail Investors at STL.News.

Original Source