BinaryBook named in international fraud

At the centre of the matter is BinaryBook, a trading platform. It is the subject of several investigations by the National Fraud Intelligence Bureau, which is attached to the London Police in England. BinaryBook is accused of defrauding numerous customers and causing financial harm to its clients.

BinaryBook offers its customers the opportunity to invest in the stock market through binary options. In simple terms, these are instruments that allow a person to invest in the financial markets without having any experience of the stock market. Everything is done by computer and simplified as much as possible for the users.

The trading platform is accused of raising funds from customers without them getting the return they were promised. BinaryBook denies that it is illegal. To recruit new customers worldwide, it uses two call centres, one of which is in Mauritius. This is according to the Bureau of Investigative Journalism, a British NGO that has won several awards for its work in journalism, in an article published online on Thursday. The Daily Mail of 1 November agrees.

This is how Linkopia, a Mauritian company, came into play. It is said to be one of the "recruiters" of new clients for BinaryBook, according to the Bureau of Investigative Journalism and the Daily Mail. Linkopia is said to have taken the first step and passed the baton to Yukom, a company based in Israel. Both companies have the same owner.

Runal Singh Jeebun, Linkopia's Chief Executive Officer, maintains that Yossi Herzog, the owner of his company, has nothing to do with BinaryBook. "The allegations made are unfounded. BinaryBook was a client of ours, but it is no longer. We provide services to companies all over the world. We can't be blamed for anything. If a BinaryBook customer has a problem, they go directly to them. I am very proud of my company for working legally and by the book. I will not let anyone say anything bad about it.

Linkopia has been operating in Mauritius for four years and has over 200 employees. Runal Singh Jeebun said Linkopia would sue the Bureau of Investigative Journalism.