Caselaw

Criminal Case (Haifa) 64242-08-21 State of Israel v. Assaf Tal - part 18

May 7, 2026
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The system has a safety mechanism.

This mechanism stops buying operations if the price of gold falls below the support line we have defined in the system.  A line is defined in accordance with the line of the upward trend of gold prices over the past 12 years" [emphasis added]

Towards the end of the landing page, under the heading "I'm sure you have questions, so here are the answers:" the following were written, among other things:

"How soon do you start to see profits?

In fact, from the very first day of activating the system, you start to see profits..."

Up next:

"What is the future return I will receive?

I don't know what kind of return you'll get in the future, and I can't promise anything like that.

Because no one can know how the market will behave in the future.

And if someone comes to you differently, I suggest you don't believe it.

I can show you how the market behaved in the past.

And what returns has the system provided so far...

Based on this data, I invest my personal money in the system, and in the meantime it is doing the job."

"What were the returns in the past?

It depends on what point in time you started working with the system.

In the last month alone, the system has made a return of 29%."

"Is there a risk-free investment channel in the world?

Nope.  It doesn't exist.  If you find such a channel, call me immediately, even in the middle of the night."

  1. Video P/11 - Towards the end of the video, the defendant says in his voice: "What is the risk here?" and replies: "In the next video we will find out what the weak point of this system is... And in what market situation is this system liable to cause losses? And what do we do to prevent such a situation? And are the odds good for us or against us?(See also videos P/12 and P/18, which are generally similar to P/11).  In the video P/13, the defendant opens and says: "I'm going to tell you what is the weak point of the automated system for trading gold?", and that he intends to explain, "In what market situation is the system liable to cause us losses?", but in the same breath he adds, "And what can be done to prevent such a situation?".  After the defendant mentions the six market states mentioned earlier, he mentions situation 6.  The defendant wonders - what can be done to protect the account from this situation? He responds: "There is a safety mechanism in the system called limit, this mechanism stops the buying operations if the price of gold falls below a certain line that is defined in advance in the system, in fact when the price of gold drops below the threshold instead of the system buying more and more ounces of gold, until you run out of money in your account, it stops the buying operations at the price we set in advance." The defendant concludes by saying that since the risk situation is in only one of the six situations, "80% of the market conditions are in our favor and 20% against us" (see also the video P/20 and the videos P/16 and P/22; See also the Facebook posts - P/27 and P/29 in which it was noted, inter alia, "high returns, low risk" and similar statements).
  2. The representations made by the defendant were also expressed during the relationship between him and each of the clients, and I will detail them:

Khoury testified that the defendant stated to him that the return was at least 25%, and that even in extreme cases (such as the outbreak of war, earthquake, bank collapse) he would not lose all the money, but only part of the money, since "the robot knew how to close the transaction with a very small loss"; The witness also noted that the defendant did not explain to him about the risk in the transactions and even reassured him about the risks (February 13, 2023, p.  142, Sat.  11-23; p.  143, paras.  8-15, 31-36; p.  154, paras.  8-11).

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