Police Continue to Arrest Suspects in the Ilan Tzorya Led Fraud Operations As the Real Mastermind Enjoys Freedom
Many people have been arrested in Israel and Europe following a crackdown on the murkier industry that began more than 4 years ago. However, the real mastermind, Ilan Tzorya, and his accomplices are yet to face the full force of the law, despite being cited by the Austrian investigative authorities as the mastermind of an enormous “pan-European” fraud scheme in February 2021.
Since then, many of Tzorya’s partners in fraud and strawmen have been arrested in Israel and other European countries and extradited to Germany to face fraud charges. Recently, two other Tzorya’s associates were arrested in Israel on the allegations of fraud around binary options and Forex trade, a criminal venture that Tzorya has minted millions of euros from in the past few years without facing any arrest, bank account, or property seizure.
The Criminal Gang Running Global Fraud Operations Under Police Shadows
When running a sophisticated web of fraud networks worldwide, Tradologic has been Ilan Tzorya’s ultimate umbrella, covering hundreds of brands, and calls centers, and powered several dozens of fake trading websites that allegedly ripped people off more than a billion euros by 2020. And the list continues.
According to a report from the Austrian police, the former Israeli Defence Force intel, Ilan Tzorya, founded Tradologic in 2009 and moved its operations to Bulgaria in 2011. Tzorya started call centers and brands in 2012 and created a complex ecosystem comprising all critical components required for business success, including trading software, websites, call centers, payment gateways, and money laundering networks.
Since its inception, more than 240 brands, including Optionbit, Zoomtrader, CedarFinance, OptionStars, Xmarkets, Option888, Binex, and Blue Bit Banc, run on Tradologic software.
Tradologic was one of the platform providers famous in the shadowy binary options and forex trade industry for offering software, CRM systems, payment processing, and marketing services to Israel’s vast online trading industry. Like other platform providers, Tradologic took a percentage of each website’s ongoing revenue, making it a springboard for even larger crimes in Europe and beyond.
Blue Bit Banc, one of the brands on the Tradologic platform, made his owner Blake Kantor sentenced to jail for 86 months by a US federal court for defrauding investors between 2014 and 2017. According to an indictment filed by US grand jury in April 2018, Kantor’s brand allegedly used computer software (the Tradologic software) to manipulate data associated with the investors’ binary options to make them lose in favor of Blue Bit Banc.
Austria’s Ministry of the Interior, which oversees police and public security, cited Israeli citizen Ilan Tzorya, founder of the binary options platform Tradologic, which had processed more than $710 million of victims’ money, which was by far more than the 200 million euros mentioned for E&G.
So, why has Ilan Tzorya not yet been arrested despite processing an enormous amount of money than anyone so far arrested? Why has his bank accounts and property not been recovered to compensate over 4 million victims who lost their money to Tzorya’s money laundering channels? Why have Ilan Tzorya and his accomplices not been arrested despite continuing their fraud operations?
In our next article, we’ll delve into how Ilan Tzorya runs extensive fraud networks across Europe and beyond without being arrested by the police due to alleged corruption that has gripped the law enforcement units in Israel, Austria, and Germany.