What does our research say about Oren Shabat Laurent?

Oren Shabat Laurent, the unscrupulous mastermind behind Banc de Binary, isn’t just a notorious fraudster—he’s a global parasite who has spent years orchestrating financial ruin for unsuspecting victims. From his base of operations, he built one of the most infamous binary options scams in history, raking in hundreds of millions by preying on people’s dreams of financial stability. But his crimes didn’t stop at Banc de Binary’s collapse in 2017. Instead, he slithered into new schemes, resurfacing in South Africa with Banxso, a brokerage riddled with the same deceitful tactics that defined his original scam.

Legal Actions and Financial Penalties: In 2016, the U.S. Commodity Futures Trading Commission (CFTC) charged Laurent and his companies, including Banc de Binary, with illegally offering off-exchange binary options to U.S. customers. This resulted in a court order for them to pay over $9 million in restitution and civil penalties. The same year, the SEC found that Banc de Binary and Laurent unlawfully sold binary options to U.S. investors without proper registration. They agreed to pay $11 million to settle these charges, with funds designated for compensating affected investors.

Regulatory Sanctions: In January 2016, CySEC imposed a €350,000 fine on Banc de Binary for multiple regulatory violations, reflecting the company’s non-compliance with financial regulations. By October 2016, the International Financial Services Commission (IFSC) of Belize revoked Banc de Binary’s license due to non-compliance issues, further restricting its operations.

Allegations of Deceptive Business Practices: Banc de Binary, under Laurent’s leadership, was accused of luring investors with promises of substantial returns through binary options trading. However, many clients reported significant financial losses, alleging that the platform was rigged against them. Numerous clients faced challenges when attempting to withdraw funds from their accounts, with reports of delayed or denied requests, raising concerns about the company’s transparency and integrity.

Attempts to Manipulate Public Information: Between 2014 and 2017, there were concerted efforts to modify Wikipedia entries related to Banc de Binary and Laurent, aiming to downplay or remove negative information. Such actions suggest attempts to obscure the company’s controversial history. Investigations revealed that multiple fake accounts were created to edit and manipulate online content favorably towards Laurent and his enterprises, indicating deliberate efforts to mislead the public.

Emergence of New Ventures with Questionable Ties: Reports have linked Laurent to Banxso, a South African brokerage firm. Investigations suggest that Banxso may share operational similarities with Banc de Binary, raising concerns about the potential continuation of previous deceptive practices under a new guise. Banxso’s association with Spot Option, the same platform used by Banc de Binary, further fuels apprehensions about the legitimacy and ethical standards of its operations.

Oren Shabat Laurent’s track record in the financial sector is characterized by regulatory breaches, deceptive practices, and attempts to manipulate public perception. The recurrence of such issues in ventures associated with him underscores the importance of vigilance and thorough due diligence by potential investors and regulatory bodies.