GoldmanOption

Quick summary on GoldmanOption

GoldmanOption was a binary options trading platform that operated under the umbrella of DAO Group Ltd, a company registered in the Marshall Islands. Despite its professional appearance, GoldmanOption was identified as a fraudulent scheme designed to deceive investors.

Operational Structure: The fraudulent operation was orchestrated by Israeli nationals:

1. Orel Asformas (born April 1991)
2. Ariel Hai Mazooz (born September 1983)
3. David Mor (born January 1993)

These individuals were the ultimate beneficial owners (UBOs) of DAO Group Ltd. Supporting them were two Seychelles citizens, Genevieve Magnan and Jonathan Bibi, who served as official directors of the company. Magnan, in particular, has been implicated in numerous other scams, highlighting the extensive network involved.

Operational Mechanism: GoldmanOption operated through a complex offshore structure, utilizing entities like DAO Processing Ltd, a UK-registered company wholly owned by DAO Group Ltd. This layered setup was designed to obscure the true identities of the individuals behind the scam and to facilitate fraudulent activities.

Regulatory Warnings: In October 2016, the Czech financial market supervisory authority issued a warning against DAO Processing Ltd, signaling the fraudulent nature of GoldmanOption. Subsequently, the platform ceased its operations, underscoring the transient and deceptive nature of such scams.

Conclusion: The GoldmanOption scam exemplifies the deceptive tactics employed in the binary options trading sector. It highlights the importance of conducting thorough due diligence and being vigilant against platforms that lack proper regulatory oversight.