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Jury to get case against woman accused of duping investors

GREENBELT, Md. (AP) — A federal jury in Maryland will soon begin deliberating in the case against an Israeli woman charged with orchestrating a scheme to defraud tens of thousands of investors out of tens of millions of dollars.

Jurors are expected to hear closing arguments Thursday in the trial of 38-year-old Lee Elbaz before deliberations begin. Elbaz is charged with three counts of wire fraud and one count of conspiracy to commit wire fraud.

Elbaz was CEO of Israel-based Yukom Communications. Prosecutors said she trained employees to dupe investors through the sale and marketing of financial instruments known as “binary options.”

A defense attorney said Elbaz did not condone the fraudulent tactics used by employees who worked under her supervision.

FBI agents arrested Elbaz in 2017 after she traveled to New York.

Associated Press

Associated Press

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