Problem 100% scam platform Geneva Option

[taoem]

I wrote to my bank to request chargeback on the following transactions I made to Geneva Option:

04.10.16 MISCELLANEOUS DEBIT 9,646.64

17.10.16 MISCELLANEOUS DEBIT 9,697.19

09.12.16 TRANSFER DEBIT 8,486.06 DR

28.12.16 MISCELLANEOUS DEBIT 4,555.51 DR


These transfers were made to Advanced Cash, and then transferred from them to Geneva Option. The last two transactions made in Dec 2016 are still in my Advanced Cash account. I was going to transfer them to Geneva Option, but made the decision not to after learning that they are a scam company. The first two transactions made in Oct 2016 have already been sent to Geneva Option.

I have since received this email from Andrew at Advanced Cash:

"I do not know what Geneva Option is and we are not responsible and don't make any comments about any activities of any third parties. For now, I need to understand the situation as related to Advanced Cash only. The situation is simple: you willingly funded your Advanced Cash account with 2 bank transfers, completed the additional verification procedure, and had the funds in your Advanced Cash wallet. You still have these funds as of now. Now, you seem to have requested a return of these funds from our bank account to yours. That would in theory leave you with the returns in your bank and with your already credited Advanced Cash balance here, doubling your funds for no reason. This is the situation I am writing about and trying to understand. It does not really matter what you intended to do with these funds and what issues you may be having with other businesses. I am asking solely about the bank returns that you initiated, which right now seems illegitimate to me."


He has not acknowledged that Advanced Cash were a component in allowing Geneva Option to receive my funds, nor is he acknowledging the two transfers I made in Oct 2016. Any advice on how to respond would be greatly appreciated.

 

[Pharaoh]

Ask him if the money was not kept by Advanced Cash, then where did it go?

 

[taoem]

How it works is Advanced Cash is an online money transfer site:

http://advcash.com/en/

I transferred the first 2 transactions to Advanced Cash via wire, and then sent the money on from there to Geneva Option. I made the last 2 transactions to Advanced Cash, but have not yet sent them on to Geneva Option after learning more about their dodgy activities.

I contacted my bank and asked for chargebacks on all 4 transactions, and Advanced Cash are who contacted me. They must be the overseas bank, but they are denying any association with Geneva Option.

 

[taoem]

Any advice on the best way to respond to this email from Advanced Cash would be greatly appreciated.

 

[taoem]

My case against Geneva Option has gone to the Traders Court. Voting has already started. Please view here and cast your vote on whether you think they are guilty or not:

https://www.forexpeacearmy.com/community/threads/case-2017-011-taoem-vs-genevaoption-com.48791/

 

[Pharaoh]

Any advice on the best way to respond to this email from Advanced Cash would be greatly appreciated.

Ask Advanced Cash why they are actively moving money to an organization that shows strong signs of being criminal. Ask Advanced Cash who their regulator is.

 

[taoem]

Ask Advanced Cash why they are actively moving money to an organization that shows strong signs of being criminal. Ask Advanced Cash who their regulator is.

Andrew's response from Advanced Cash:

We are not moving anything. You made these transfers yourself. We are merely providing a technical facility without giving any endorsements or guarantees.

We take action when law enforcement contacts us about something. Until it happens, we let the users settle any disputes between themselves.

This is not the question here, I am repeating myself again. As long as you do not seem cooperative in canceling these unfair and illegal bank transfer return requests, your account will remain blocked and I don't really see why I should respond to any of your messages any further.

What exactly are you trying to resolve by taking money from us that we already gave you here in the system? I don't see how this attitude and these activities resolve anything for anybody.

 

[Pharaoh]

You've got active requests to reverse transfers made to Advanced Cash? If so, let those work their way through the system and see what happens. If they are "unfair and illegal", Advanced Cash shouldn't be worried about losing the dispute.

Also, send Advanced Cash this link:

https://finma.ch/en/finma-public/warning-list/geneva-option

Ask them why they continue to provide transfer services to a company with a public regulator warning.

 

[taoem]

My bank has come back and said:

Dear Customer,

Please be advised the beneficiary bank has stated they are unable to return
the funds that have been credited to the beneficiary account without their
agreement. They have recommended for you to contact the police in relation
to this matter as they are unable to assist further.

Regards,

NAB Investigations.


I was already expecting this, as wire transfers seem to magically make it impossible for banks to do anything to help victims of fraud.

I am investigating lawyers to take legal action against Geneva Option. Perhaps also Advanced Cash too if necessary.

This Andrew from Advanced Cash said he will send my existing balance back to my bank (I will wait to see if this actually happens), but is not willing/bothered to do anything about the 14,000 USD I transferred from their platform in October. Any suggestions?

 

[taoem]

I have filed complaints with ACORN, the Australian Federal Police, ASIC, and several other Australian regulatory authorities.

I will soon also be making complaints to regulatory authorities in Israel (where I have it on good authority that is where Geneva Option is really located), as well as the UK and Switzerland, where they claim to have offices.

I am also filing a complaint to econsumer.gov (a global network of consumer protection agencies).

When I go to that website, 'Other' seems to be the most appropriate category for my complaint. But is there a better category I can file my complaint under?