Multiple Victim Case Update - United States v. Jared Davis

United States v. Jared Davis
Court Docket No. 3:18CR225

Defendant owned and controlled various businesses, both in the United States and abroad, including Erie Marketing LLC with a principal place of business in Sandusky, Ohio.  Though Defendant’s own role is disputed, it is alleged that those businesses engaged in a fraudulent binary options scheme using tradenames such as “OptionMint,” “OptionKing,” and, “OptionQueen.” These were neither licensed nor regulated and operated much differently from regulated exchanges. Defendant did not connect his investors to a legitimate binary options exchange that would match investors who chose different binary option outcomes. Instead, Defendant took the opposing position on each trade and thus only made money when investors lost their money, providing a built-in incentive to employ a variety of manipulative and deceptive practices. Victims were solicited through Internet marketing campaigns and international call centers.  Victims were given accounts on fraudulent platforms and they paid foreign payment processors by credit card.  More than $10 million in credit card payments were directed to Defendant’s companies.  It is alleged there may be over 5000 individual victims involved in this scheme.

If you believe you may have been a victim of the scheme described in the indictment re: United States v. Jared Davis (Northern District of Ohio Docket #18-CR-00225), please download and complete the questionnaire and return no later than February 8, 2022, via email to: USAOHN.VICWIT@usdoj.gov