Two affiliate marketers used misleading, infomercial-like videos to target millions of investors in a fraudulent binary options scheme, the SEC said in Massachusetts federal court Sept. 27.
David Sechovicz agreed to pay the Securities and Exchange Commission more than $2.9 million to end the case against him. His alleged partner, Peter Szatmari, still faces an SEC suit in the U.S. District Court for the District of Massachusetts
The pair allegedly created six marketing campaigns for a binary options scam. They put together misleading videos featuring “real” stories and purported live trading using the alleged scammers’ software that were actually fake, ...
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