Option Fm(OFM) scam -downunder

Hi Guys -all the heavy artillery is in place-Will make Option FM take notice:
NAB -Fraud squad investigating
ACORN.gov.au-------------------------------------------ARN report:6KX4-HAC3
econsumer.gov
:investigating:------------------------------------------70723480
SCAMwatch.gov.au
----------------------------ID:accc-scamwatch 73271
IFSC Belize
-regulater: ---------------------------------------------------acknowledged
SA Police:------------------------------------------------------------------- notified
 
Hey guys-this is one fired up Aussie!!!!!!!!

After many emails of complaint- this is Option FM reply:
I am very sorry for your losses, sir, but please understand that it cannot be avoided even with the best intentions. -

Tolly's attack-
The Question you have to ask, is, how can “a Senior Account Manager at OFM” - commit to 166
Trades in 26 minutes –with any trading strategy at all? A trading strategy with proper risk assessment, conducted in a proper time frame-conducted in a professional manner?-
He promised extensive training-
Risk management strategies-
He promised a Trading strategy that would assure me of extra income, now and long term.

The simple answer is –HE CAN’T!

He failed on all counts!

In 26 minutes he did 166 trades- more than $100,000 of investment.
He traded in a suicidal manner not befitting any title let alone professional trader.
He knew that I had had no training at all, and yet he traded in a completely reckless and unprofessional way -decimating my investment.

As such OFM has been negligent in failing to provide the promised services (see below) and I believe I am entitled to a full refund.

I have forwarded all the trading figures and evidence to the appropriate bodies.
 
I'm no lawyer, just taking reference from the Australian Consumer Law: as a consumer of a product or service in Australia, consumers have the protection of the ACL.
Misleading or Deceptive Conduct

It is important to look at how the behaviour of the business affects the consumer’s impression of a good or service. When deciding if conduct is misleading or deceptive, or likely to mislead or deceive, the most important question to ask is whether the overall impression created by the conduct is false or inaccurate.
Business conduct is likely to breach the law if it creates a misleading overall impression among the audience about (for example) the price, value or quality of consumer goods or services. Australian Consumer Law - Avoiding unfair Business practices, p6.
Predictions and opinions
A statement about the future that does not turn out to be true is not necessarily misleading or deceptive. But promises, opinions and predictions can be misleading or deceptive if the person making the statement: • knew it was untrue or incorrect • did not care whether it was true or not • had no reasonable grounds for making it. Australian Consumer Law - Avoiding unfair Business practices, p8.
Unconscionable conduct
Examples of unconscionable conduct by a business may, depending on the circumstances, include:
using high pressure tactics, such as refusing to take ‘no’ for an answer, sustaining a sales pitch for a long period of time, or refusing to leave a consumer’s home. Australian Consumer Law - Avoiding unfair Business practices. p16
Harassment and coercion
It is unlawful to use physical force, coercion or undue harassment in connection with the:
> supply or possible supply of goods or services
> payment for goods or services
> sale or grant, or the possible sale or grant, of an interest in land, or
> payment for an interest in land.
Undue harassment means unnecessary or excessive contact or communication with a person, to the point where that person feels intimidated, tired or demoralised. http://consumerlaw.gov.au/files/2015/09/sales_practices_guide_dec_2011.pdf p25

On a legal front you will need to point out what laws have been broken.
 
Thank you so much for the care and thought that goes into these valuable comments- I ran a successful renovation business for many years in Aussie and only once or twice ran into clients that deliberately set out to fleece you. On the other hand,these so called "professionals" set you up and then take the shirt of your back if you let them.

One of many tactics used by my so called broker was to say----"you are so lucky OFM is a leader in the binary option field, they have the most diverse trading platform in the business, and with my training and expertise you will make a lot of money"- you(client) are a nice guy--I have many successful clients in Aussie---Oh Yea -Like B***ll

Because they know the platform so well, they know exactly where to lead the client (loss) before the client has any idea of the severity of their position. This is unacceptable and deceptive.

I believe it's all a giant set up. OFM "the company" re- their internet presence-portrays a safe- professional trading company- Their broker,contrary to this, (I 'm sure they have got some good brokers)-violates this doctrine.. The so called safe company is hidden behind layers of endorsements -false addresses -parent companies -and foreign laws.
 
Thank you so much for the care and thought that goes into these valuable comments- I ran a successful renovation business for many years in Aussie and only once or twice ran into clients that deliberately set out to fleece you. On the other hand,these so called "professionals" set you up and then take the shirt of your back if you let them.

One of many tactics used by my so called broker was to say----"you are so lucky OFM is a leader in the binary option field, they have the most diverse trading platform in the business, and with my training and expertise you will make a lot of money"- you(client) are a nice guy--I have many successful clients in Aussie---Oh Yea -Like B***ll

Because they know the platform so well, they know exactly where to lead the client (loss) before the client has any idea of the severity of their position. This is unacceptable and deceptive.

I believe it's all a giant set up. OFM "the company" re- their internet presence-portrays a safe- professional trading company- Their broker,contrary to this, (I 'm sure they have got some good brokers)-violates this doctrine.. The so called safe company is hidden behind layers of endorsements -false addresses -parent companies -and foreign laws.


Hi, could you please tell me the name of your Senior Account Manager, thanks and does anybody know if they are based in Hong Kong or is that another lie?
 
Nearly all the names and claimed histories of binary "managers" are complete fiction. The majority of them are sitting in call centers in Israel.
 
Hi Tolly, get back on the phone to NAB, tell them you have not received the services provided and you do wish to go ahead with a chargeback and that you will provide evidence of the services not provided when NAB send you paperwork.
Also, ASIC's (Australian Securities and Investment Commission) www.SCAMwatch.gov.au website, www.ACORN.gov.au (Australian Cybercrime Online Reporting Network) and econsumer.gov (Cross border reporting) - report the whole incident.
Licence is held by IFSC Belize, email director@ifsc.gov.bz and put in that complaint right now!!
GO AUSSIE GO!

Hi,
Could I know whether did you put in a complain to IFSC Belize? If yes, any response?
 
Hi Laura-
as you can see from the above thread it's worth having a big presence- It took a little while, but IFSC did reply by email - they just gave a reference number and acknowledgement that they had received my complaint- Eventually they will take action in some way when there's enough ammunition to do so. It's very important to put the heat on. Every complaint is important. Take care -Tolly
 
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