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.