Former Rome Casino Owner Charged over Multi Million Binary Options Scheme

By Simon Wright, Last updated May 15, 2020

Josh Cartu who used to own and operate several online casinos, including the now defunct Rome Casino has been charged in a civil case alongside his brothers, Jonathan and David, with operating an illegal binary options business.

The civil charges have been brought by the Ontario Securities Commission and relate to the operation of a binary options business, where  citizens of Ontario were solicited, with the brothers obtaining $1.4m from them as a result. Part of a much larger $233m the binary options scheme accrued worldwide.

Earlier this month on 4th May, the Ontario Securities Commission brought civil charges against the three Cartu brothers, alleging that from July 2013 to April 2017 that they operated online trading platforms from which they illegally sold binary options to Ontario residents. Furthermore it is alleged that they also lied to and mislead  investors in the scheme.

In addition the civil charges relate to the sites and which it is also alleged the brothers operated as a vehicle for their scheme. As this is a civil case and not a criminal one, if the judge in the case finds against the brothers, they will be required to permanently cease trading. With financial penalties also very likely to be laid against them.

Simon Wright

Simon Wright has been both a player and an observer of the online casino industry for over 15 years. His knowledge of the online casino industry – to include sports is massive. Not many folks have the experience or his knowledge about online gambling. His adoration of football is also noted. He has painted his house blue (Chelsea) and annoys his neighbors with local football songs on game days.

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