Press "Enter" to skip to content

Pini PETER – The Binary Option Tycoon

The Israeli Pini PETER used to be one of the tycoons in the binary options industry. He is the founder of the binary options software provider SpotOption which allegedly had a market share of 70%. It claimed to be the platform provider for some 200 binary options brands with a combined trading volume of some $5 billion. SpotOptions took up to 12.5% of their revenues as commission. The company’s net profit in 2016 was $17 million, down from $17.8 million in 2015 (Source: FinanceMagnates).

The nonprofit public interest news organization Bureau of Investigative Journalism reports that the founder and primary shareholder Pini PETER aka Pinchas Peterktzishvilly was convicted on money laundering charges in 2005. He was involved in one of Israel’s largest-ever financial crimes: the embezzlement of some 254 million shekels ($70 million) from Trade Bank, a commercial bank. PETER was not involved in the embezzlement but was convicted of forging signatures on cheques.

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *