A United States District Court in Maryland has sentenced Lee Elbaz, former CEO of Israel-based Yukom Communications, to 22 years in prison for defrauding investors. Elbaz marketed what are known as “binary options,” financial instruments of questionable value that are described as little more than a form of gambling that is particularly prone to fraud and manipulation. She is believed to have sold some $100 million in these instruments, according to the US Justice Department, which prosecuted the case. “This defendant targeted and defrauded thousands of victims, looting monies from retirees, veterans and other individuals, many of whom lost their entire savings,” Assistant Attorney General Brian A. Benczkowski said in a December 19 statement. Five other people were convicted and sentenced as co-conspirators. Fifteen additional people are currently targeted for indictment.