{"id":6716,"date":"2018-12-07T09:12:22","date_gmt":"2018-12-07T15:12:22","guid":{"rendered":"https:\/\/www.investorlawyers.com\/?p=6716"},"modified":"2022-05-19T09:55:10","modified_gmt":"2022-05-19T14:55:10","slug":"options-trading-website-owner-faces-charges-in-alleged-4m-online-binary-options-fraud","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/options-trading-website-owner-faces-charges-in-alleged-4m-online-binary-options-fraud\/","title":{"rendered":"Options Trading Website Owner Faces Charges in Alleged $4M Online Binary Options Fraud"},"content":{"rendered":"<p>\t\t\t\tThe <a href=\"https:\/\/www.sec.gov\" target=\"_blank\" rel=\"noopener noreferrer\">US Securities and Exchange Commission<\/a> has filed fraud charges against Mark Suleymanov, who owns the options trading website SpotFN. According to the regulator, Suleymanov, who is a New York resident, defrauded retail investors of about $4M in a binary options scam that took place from at least 2012 to 2016.<\/p>\n<p><strong>Binary Options<\/strong><\/p>\n<p>Investor.gov describes a binary option as a kind of options contract upon which payout depends on a \u201cyes\/no proposition\u201d outcome and typically involves whether a certain asset&#8217;s price will go over or under a set figure. Upon acquisition of the option, a holder no longer has to decide about exercising said binary option because they \u201cexercise automatically.\u201d The holder of a binary option is not entitled to sell or purchase the asset. Upon expiration of the binary option, the holder is given either a cash amount that was previously determined or nothing at all.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/options-trading-website-owner-faces-charges-in-alleged-4m-online-binary-options-fraud\/\"  title=\"Continue Reading Options Trading Website Owner Faces Charges in Alleged $4M Online Binary Options Fraud\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The US Securities and Exchange Commission has filed fraud charges against Mark Suleymanov, who owns the options trading website SpotFN. According to the regulator, Suleymanov, who is a New York resident, defrauded retail investors of about $4M in a binary options scam that took place from at least 2012 to 2016. Binary Options Investor.gov describes [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6725,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3738,3760,3741],"tags":[2790,3222],"class_list":["post-6716","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investor-fraud","category-sec-enforcement","category-securities-fraud","tag-binary-options-fraud","tag-mark-suleymanov"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Options Trading Website Owner Faces Charges in Alleged $4M Online Binary Options Fraud &#8212; Investor Lawyers Blog &#8212; December 7, 2018<\/title>\n<meta name=\"description\" content=\"According to the SEC, Mark Suleymanov, who owns the options trading website SpotFN, defrauded retail investors of about $4M in a binary options scam that took place from at least 2012 to 2016.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/options-trading-website-owner-faces-charges-in-alleged-4m-online-binary-options-fraud\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Options Trading Website Owner Faces Charges in Alleged $4M Online Binary Options Fraud &#8212; Investor Lawyers Blog &#8212; December 7, 2018\" \/>\n<meta name=\"twitter:description\" content=\"According to the SEC, Mark Suleymanov, who owns the options trading website SpotFN, defrauded retail investors of about $4M in a binary options scam that took place from at least 2012 to 2016.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/12\/12.7.18.jpeg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Options Trading Website Owner Faces Charges in Alleged $4M Online Binary Options Fraud &#8212; Investor Lawyers Blog &#8212; December 7, 2018","description":"According to the SEC, Mark Suleymanov, who owns the options trading website SpotFN, defrauded retail investors of about $4M in a binary options scam that took place from at least 2012 to 2016.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/options-trading-website-owner-faces-charges-in-alleged-4m-online-binary-options-fraud\/","twitter_card":"summary_large_image","twitter_title":"Options Trading Website Owner Faces Charges in Alleged $4M Online Binary Options Fraud &#8212; 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