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Thread: Lbinary scam

  1. #1
    paulm1162's Avatar
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    Exclamation Lbinary scam

    I signed up with lbinary.com on 19/11/2013 initially intending to deposit an amount of £315.00 to see how i fared with online binaries but before i could even make a deposit your alleged head broker chris cooper rang me for what went on for almost 5 hours.
    I explained i was unemployed, no savings and a carer for my father, yet he persisted with telling me about a big event on the 21/11/2013 in the u.s which guarantees success with only a 1% risk of losing and furthermore said these were insured trades which cost £3000 to buy, to which i laughed as i didn't have anything like that amount to play with so said no, but he assured me that as these were insured trades for 95% the most I could lose, 1% chance risk he said, would be £150.
    I was very unsure, as i always err on caution but eventually, because he told me of the insurance and that they only normally offer these to there big clients etc etc, he persuaded me to max out my credit card and take £2000 from my current account on my debit card and after much re assurance,, i said o.k.
    Eventually taking 3 of them.
    2 of them lost money so in order to claim the insurance i had to send verification of credit card front and rear, my passport and utility bill.
    Sure enough the £5700 was back in my lbinary account but to my horror it was classed as a bonus, which i had already told him i avoid as the play through requirements are horrendous but was assured these were insured.
    After the weekend when i could get hold of chris cooper he said they were a bonus and that i would have to play bonus + deposit 10X, even the amount i had initially deposited of £315.00, which i had already played with, was taken into calculation.
    He said he would work with me and get through the play through requirements as the credit card company would want their money early December.
    After 3 days he tried to talk me into a managed account by adding a further £3500 to £4000 to my account (debt), I refused and what happened after has since been resolved, (unauthorised withdrawal of £12000 from my account, which they eventually gave back) I am however left with a debt of £8000, as i did have a little money in my current account for bills etc, due to the "Insured trades" which is beside the point as i was blatantly mis-sold these "Insured trades" as they were in fact a bonus. Even knowing i don't accept bonuses because of the play through rate, I was still assured they were insured.


    regards,
    Paul merriman

  2. #2
    Pharaoh's Avatar
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    Did you deposit via credit card? If so, call your issuing bank immediately. Ask to speak to someone in the fraud department. Explain exactly what happened and ask whether a chargeback is possible.
    paulm1162 and Erkin like this.

  3. #3
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    Angry

    An email which I sent today after their "chat help?" said they wouldn't help and would have to contact support via email:

    I need to know your physical address and location in London area, so email it A.S.A.P.
    I received a call from your damage control, what a joke, he was foul mouthed, rude and very high pressure sales tactics.
    Instead of limiting or resolving my debt he wanted to increase it by aggressively trying to get me to give him my credit card details so as to see if he could get even MORE money, claiming yet ANOTHER big event blah blah blah, and even offering insurance as the insured trades i took with chris cooper should have been insured but weren't........not my problem, as i fully intend to get back every penny,
    I have been lied to, cheated, deceived and stolen from, even the stolen funds were used to trade by someone without my permission and lost £8000 so when it came to finally getting back my stolen £12000 my account which was over £16000 now was £8000, it should have reverted to £16000.

    This Tony Preston man, claims they are in a legal dispute so can't do anything about turnover being removed - rubbish!

    Send me your address immediately,

    Paul Merriman

    They claim to have sacked Chris Cooper as they are REPUTABLE???
    Claim that still concerned over my post on FPA....guess what TOUGH, as i am only telling the truth
    Kingfisher likes this.

  4. #4
    Salim Raheem's Avatar
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    Send them one email regarding this thread and ask them to join the discussion.

  5. #5
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    Good idea Salim, I will, thanks a lot :-)


  6. #6
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    RE UPDATE

    I need to know your physical address and location in London area, so email it A.S.A.P.
    I received a call from your damage control, what a joke, he was foul mouthed, rude and very high pressure sales tactics.
    Instead of limiting or resolving my debt he wanted to increase it by aggressively trying to get me to give him my credit card details so as to see if he could get even MORE money, claiming yet ANOTHER big event blah blah blah, and even offering insurance because, as Tony Preston admitted, the insured trades i took with chris cooper should have been insured but weren't........not my problem, as i fully intend to get back every penny,
    I have been lied to, cheated, deceived and stolen from, even the stolen funds were used to trade by someone without my permission and lost £8000 so when it came to finally getting back my stolen £12000 my account which was over £16000 now was £8000, it should have reverted to £16000.

    This Tony Preston man, claims they are in a legal dispute so can't do anything about turnover being removed - rubbish!

    Send me your address immediately,

    Paul Merriman

  7. #7
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    If they claim to be in the UK, complain to the FOS, FCA, and Action Fraud.

    File a complaint with econsumer.gov - Your site for cross-border complaints.

  8. #8
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    Thanks Pharoah,
    contacted them but will only give headquarters address in gibralter - Tarygen holdings, no email or phone details though.
    yesterday had email from support apologising for tony preston and if i give them the verification of card XXXX there will be no problem giving my money back, but this was the debit card which i had to replace after chris cooper tried to take £12000 from my bank.
    told them i could send details of credit card as this is where £7000 of the £9000 were taken from and also told them i would be contacting my bank to ensure only deposited funds went in and not withdrawls as I don't trust them an inch.
    As of yet i have heard nothing despite several attempts to get a response

  9. #9
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    Filed a traders court case but can't find it anywhere, any ideas?

  10. #10
    Pharaoh's Avatar
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    Did you file from here - http://www.forexpeacearmy.com/traders_court/

    If you submitted a review and checked "I've been scammed and can prove it, that doesn't really file a case.

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