pacificTrader
Private
- Messages
- 11
Original FPA Traders Court Submission:
I am submitting the case against: www.empireoption.com
My Case is: Dear FPA ,
I was duped into using EMPIRE OPTIONS, and fell for their attractive 63% return promise or your money back policy. Which I cannot say is a policy at all because they certainly do not honor it.
In hindsight I realize my mistake for trusting them, but because of their size and the level of return and refund policy they communicated to me I was overwhelmed into putting $50,000 into it. Their communications also suggest that they are a Regulated Platform.
To make matters worse, they traded it for me, with this promise yet I only recently found out that they make money from me losing so of course they would want to trade it down and not 63% per month. I have supporting evidence of these things they said to me prior to trading and countless emails.
Later, when I saw that my account was losing a lot of money in just a week I told them we should stop trading. Instead they insisted that I trade further and that If I do not make back the $50,000 they would refund the whole amount. So because of this I agreed and let them trade further and it yet continued to lose.
I would have not gone ahead with the program without their refund policy which turned out to be bogus. When I wanted the remaining 50% of my funds they wouldn't even withdraw that!? They said I had to signed a waiver form waiving all liability to them first. So they actually blackmailed me to take the 50% loss of my money back to try and cover themselves for telling lies to solicit me.
They have since returned only a partial amount and I believe the full amount should be given back as they are B-Booking and it doesn't cost them money. That money isn't traded on a live exchange so it would just mean them giving back what i deposited with them in the first place, the full $50,000.
Either way one thing is for sure, they seem to be operating like a scam, I will ofcourse update a fair resolution to this issue in the thread, if they choose to do the right thing.
Summary using correspondence to them on Feb 25th 2015 after they tried to force me to sign a waiver form After the losses or not give me even my own money back:
To whom it may concern:
Here are the facts:
1. I wired $50,000 to Empire Option to begin trading.
2. I was working with Federico Isgleas who said he was working for 7 years with the company and had a track record of making he said 10k per week on a 50k investment.
3. There was a delay in receiving the wire ad your bank had trouble tracking it as it took almost two weeks.
4. Federico did most of the trading himself in the account and said he was working with an economist and I should trust him.
5. After the first week Federico lost around 23k and said in multiple emails that we as going to get the account back to 50k and I was not going to lose and I should not worry. There was never any mention of bonus or this money being conditional on reaching a certain minimum turnover or leaving the money with Empire Option for a minimum period of time. Federico said he spoke to the owners and they were taking responsibility for the loss.
6. I have attached the only one page document that Federico had me sign which had no mention of any restriction for bonuses or minimum turnover etc. There was no contract stipulating restrictions that you are now stating.
After reviewing the attached email correspondence I respectfully request that my original $50,000 be wired back to me. Thank you in advance for your understanding in this matter.
Best,
New thread in the Scam Alerts Folder:
Review is submitted by www.empireoption.com on 04/28/15
The company was first contacted about the issue on 12/12/14 the last contact was on 04/28/15
Details: From: Federico Isgleas <federico.isgleas@empireoption.com>
I just finish my meting with the economist, we are trading today and we open some trades with the gold for tomorrow to, we are going to wait until tomorrow, maybe its not the best week, but dont worry if we close the day with less than 50k tomorrow we gonna give you the money back and start a new strategy.
Thank you!
From: Me To Fredrico
OK I hope you are taking responsibility here as sso far all trades you opened today are losing and account tomorrow could be like 23 or 25k just wanted to confirm u will put it back to 50k at end of week. Please confirm
Sent from my BlackBerry 10 smartphone on the Verizon Wireless 4G LTE network.
From: Federico Isgleas <federico.isgleas@empireoption.com>
Yes of course, I talk with the owners of the company and they going to give you back the money that you need to reach the 50k.
From: Federico Isgleas <federico.isgleas@empireoption.com>
Hi Sr,
Yes, if this time we have a bad result on the trades we gonna refound the money back to your account, Im sure thats not gonna happen but any way yo not gonna loose.
From: Me
To whom it may concern:
Here are the facts:
1. I wired $50,000 to Empire Option to begin trading.
2. I was working with Federico Isgleas who said he was working for 7 years with the company and had a track record of making he said 10k per week on a 50k investment.
3. There was a delay in receiving the wire ad your bank had trouble tracking it as it took almost two weeks.
4. Federico did most of the trading himself in the account and said he was working with an economist and I should trust him.
5. After the first week Federico lost around 23k and said in multiple emails that we as going to get the account back to 50k and I was not going to lose and I should not worry. There was never any mention of bonus or this money being conditional on reaching a certain minimum turnover or leaving the money with Empire Option for a minimum period of time. Federico said he spoke to the owners and they were taking responsibility for the loss.
6. I have attached the only one page document that Federico had me sign which had no mention of any restriction for bonuses or minimum turnover etc. There was no contract stipulating restrictions that you are now stating.
After reviewing the attached email correspondence I respectfully request that my original $50,000 be wired back to me. Thank you in advance for your understanding in this matter.
Best,
Company representatives' emails: Federico Isgleas <federico.isgleas@empireoption.com>
Federico Demczylo <federico.demczylo@empireoption.com>
Diego Frontan <diego.frontan@empireoption.com>
I am submitting the case against: www.empireoption.com
My Case is: Dear FPA ,
I was duped into using EMPIRE OPTIONS, and fell for their attractive 63% return promise or your money back policy. Which I cannot say is a policy at all because they certainly do not honor it.
In hindsight I realize my mistake for trusting them, but because of their size and the level of return and refund policy they communicated to me I was overwhelmed into putting $50,000 into it. Their communications also suggest that they are a Regulated Platform.
To make matters worse, they traded it for me, with this promise yet I only recently found out that they make money from me losing so of course they would want to trade it down and not 63% per month. I have supporting evidence of these things they said to me prior to trading and countless emails.
Later, when I saw that my account was losing a lot of money in just a week I told them we should stop trading. Instead they insisted that I trade further and that If I do not make back the $50,000 they would refund the whole amount. So because of this I agreed and let them trade further and it yet continued to lose.
I would have not gone ahead with the program without their refund policy which turned out to be bogus. When I wanted the remaining 50% of my funds they wouldn't even withdraw that!? They said I had to signed a waiver form waiving all liability to them first. So they actually blackmailed me to take the 50% loss of my money back to try and cover themselves for telling lies to solicit me.
They have since returned only a partial amount and I believe the full amount should be given back as they are B-Booking and it doesn't cost them money. That money isn't traded on a live exchange so it would just mean them giving back what i deposited with them in the first place, the full $50,000.
Either way one thing is for sure, they seem to be operating like a scam, I will ofcourse update a fair resolution to this issue in the thread, if they choose to do the right thing.
Summary using correspondence to them on Feb 25th 2015 after they tried to force me to sign a waiver form After the losses or not give me even my own money back:
To whom it may concern:
Here are the facts:
1. I wired $50,000 to Empire Option to begin trading.
2. I was working with Federico Isgleas who said he was working for 7 years with the company and had a track record of making he said 10k per week on a 50k investment.
3. There was a delay in receiving the wire ad your bank had trouble tracking it as it took almost two weeks.
4. Federico did most of the trading himself in the account and said he was working with an economist and I should trust him.
5. After the first week Federico lost around 23k and said in multiple emails that we as going to get the account back to 50k and I was not going to lose and I should not worry. There was never any mention of bonus or this money being conditional on reaching a certain minimum turnover or leaving the money with Empire Option for a minimum period of time. Federico said he spoke to the owners and they were taking responsibility for the loss.
6. I have attached the only one page document that Federico had me sign which had no mention of any restriction for bonuses or minimum turnover etc. There was no contract stipulating restrictions that you are now stating.
After reviewing the attached email correspondence I respectfully request that my original $50,000 be wired back to me. Thank you in advance for your understanding in this matter.
Best,
New thread in the Scam Alerts Folder:
Review is submitted by www.empireoption.com on 04/28/15
The company was first contacted about the issue on 12/12/14 the last contact was on 04/28/15
Details: From: Federico Isgleas <federico.isgleas@empireoption.com>
I just finish my meting with the economist, we are trading today and we open some trades with the gold for tomorrow to, we are going to wait until tomorrow, maybe its not the best week, but dont worry if we close the day with less than 50k tomorrow we gonna give you the money back and start a new strategy.
Thank you!
From: Me To Fredrico
OK I hope you are taking responsibility here as sso far all trades you opened today are losing and account tomorrow could be like 23 or 25k just wanted to confirm u will put it back to 50k at end of week. Please confirm
Sent from my BlackBerry 10 smartphone on the Verizon Wireless 4G LTE network.
From: Federico Isgleas <federico.isgleas@empireoption.com>
Yes of course, I talk with the owners of the company and they going to give you back the money that you need to reach the 50k.
From: Federico Isgleas <federico.isgleas@empireoption.com>
Hi Sr,
Yes, if this time we have a bad result on the trades we gonna refound the money back to your account, Im sure thats not gonna happen but any way yo not gonna loose.
From: Me
To whom it may concern:
Here are the facts:
1. I wired $50,000 to Empire Option to begin trading.
2. I was working with Federico Isgleas who said he was working for 7 years with the company and had a track record of making he said 10k per week on a 50k investment.
3. There was a delay in receiving the wire ad your bank had trouble tracking it as it took almost two weeks.
4. Federico did most of the trading himself in the account and said he was working with an economist and I should trust him.
5. After the first week Federico lost around 23k and said in multiple emails that we as going to get the account back to 50k and I was not going to lose and I should not worry. There was never any mention of bonus or this money being conditional on reaching a certain minimum turnover or leaving the money with Empire Option for a minimum period of time. Federico said he spoke to the owners and they were taking responsibility for the loss.
6. I have attached the only one page document that Federico had me sign which had no mention of any restriction for bonuses or minimum turnover etc. There was no contract stipulating restrictions that you are now stating.
After reviewing the attached email correspondence I respectfully request that my original $50,000 be wired back to me. Thank you in advance for your understanding in this matter.
Best,
Company representatives' emails: Federico Isgleas <federico.isgleas@empireoption.com>
Federico Demczylo <federico.demczylo@empireoption.com>
Diego Frontan <diego.frontan@empireoption.com>
