Problem OptionRally is a scam

[honeybee1]

Hi Woodfire,

first of all it is good to know that your computer problem has been resolved and that it just seems to have been caused by some type of natural or whatever type of at least more or less ordinary event.

In respect to your matter.

I assmue that the amount you believe to be currently owed is $19,032.78 USD and what they currently offer is USD 9,500.-. This is about a 50% settlement proposal and they have already indicated that there is no more room for negotiations.

To be frank I personally would recommend to accept this in order to put an end to this and in order get this out the way. I would just make sure that nothing is withdrawan before whatever settlement amount you might end up with is actually in your bank account. I could write a lot here why I reach this conclusion but I won´t do this as this might simply create more confusion.

Maybe without ever having seen the acutal details of your case and the evidence to me, who is certainly in no way related to the other side, and who at least has no monetary interest in the outcome at all, it looks like this:

There are two facts in dispute here -(which as such are not even a surprise to me/us). The first one is with which of their two or even three legal entities you acutally have a contract with. The second one is to what extent the losses are caused by either side.

Even assumed that the first hurdle could be overcome to your advantage, in respect to the second hurdle I really doubt that it will ever be possible to figure out, let alone acutally prove what really might have happened or not.

At least you know now how they will defend this in respect the authorities envolved and it might be that an ombudsman simply uses a very similar line of cursory reasoning than I have just improvised.

If you want to feel free let us all know how this proceeds.

kind regards honeybee1

PS:Just to make this clear: The "us" as used above does not refer to honeybee1 and the FPA but to honeybee1 and some outside friends. Maybe Pharao or somebody else from the FPA might take a different view on this.

 

[Pharaoh]

Personally, I hate the thought of letting scammers off for less than the full amount, but sometimes the victim needs to make a choice between some money and no money. Whether to accept such an offer is up to the victim.

Either way, I'd get that complaint to Cysec in and mention the unfair settlement offer that's under consideration.

 

[honeybee1]

Hi there,

okay, if it absolutely unavoidable -(meaning nobody really "official" can or wants to sofar)- honeybee1 and friends hereby express some interest into really looking deeper into this and maybe similar matters.

The major condition is that the "official" sides involved are willing to arrange a physical/and IT security level of embassy-standard on their risk and costs in a very major central European capitial.

(@ Oscarra can you help???)

best hb1&friends

 

[Woodfire]

Hi there,

okay, if it absolutely unavoidable -(meaning nobody really "official" can or wants to sofar)- honeybee1 and friends hereby express some interest into really looking deeper into this and maybe similar matters.

The major condition is that the "official" sides involved are willing to arrange a physical/and IT security level of embassy-standard on their risk and costs in a very major central European capitial.

(@ Oscarra can you help???)

best hb1&friends

I have not replied to their last offer and tonight I have received the following:
"We have been trying to settle the issue with you regarding your trading account nor have we received an answer from you regarding the settlement amount in question. We wish to offer you a final settlement of $10,000, if you don't choose to accept the settlement, we will be forced to withdraw our attempt at settling the matter with you. Your deadline is Monday March 28th, 2016 at 8am GMT."

Can anyone give me any info about what the Cyprus Ombudsman might be able to achieve?

 

[oscarra]

. I have emails promising return of money which they had taken without permission

Hope you filled this in your police complaint…..it also involves crime !
Forward as well your complaint to ISA
http://www.isa.gov.il/sites/ISAEng/CONTACT/Pages/default.aspx

AUTORITYS WILL DECIDE ABOUT ANY DEADLINE !
You are to recover your entire deposit

 

[honeybee1]

Hi Woodfire,

because the ombudsman office is only “fully operative” since five or six months nobody can already have this information. As you have apparently filed your complaint there at the beginning of 2016; the office has time until the end of Sept. 2016 (the latest) to come up with a proposal.

To be frank: I would accept this for the reasons already indicated above. Point 1 can likely be overcome, point 2 probably not.

Oscarra´s link (thanks) points into a very different and much tougher direction but it might be a little hard for you to understand this. Let me phrase it this way: Maybe not everybody is whom he/she/it purports to be.

Legally, the major advantage of a settlement proposal made by the other side if compared to an Ombudsman-decree is simply that you expect them to in fact honor it (even if it means a loss of 50%), as long as you secure that the amount is in your real bank account before anyhting is withdrawn at all.

In respect, to Ombudsman-decrees we do not know this yet as well. Especially if your single case should be really that crucial for the authorities: After having accepted some potential regulatory fine –(which can be relatively moderate as in some recent decisions but also very high as in some others, a fine of you won´t receive anything, it goes to the local fiscal authorities)- nobody might have a reason to settle anything without a real, final, civil judgment and to fight this through might not be a realistic option.

Ultimatedly only you can decide what to do here by yourself.

Anway: Happy Easter everybody (albeit in advance)

HB1

 

[Pharaoh]

I strongly suggest filing all the info with the ISA no matter what. Even if you decide to accept a partial settlement, this gets it on the record in Israel (which is where most binary companies are really from).

 

[honeybee1]

The deadline for this offer seems to have expired in the meantime - I think. Besides before making any too early conclusions Woodfire should at least have checked to what extent the evidence in her particular case really points there. (Maybe somebody else could explain her how to do this, please). There might be more than just one callcenter being used. Besides, she should very careful with the communication lines.

 

[Woodfire]

The deadline for this offer seems to have expired in the meantime - I think. Besides before making any too early conclusions Woodfire should at least have checked to what extent the evidence in her particular case really points there. (Maybe somebody else could explain her how to do this, please). There might be more than just one callcenter being used. Besides, she should very careful with the communication lines.

Thank you oscarra, honey bee1 and Pharaoh for your replies and input. It is very much appreciated. I have also taken advice from two trusted savvy friends and my family and have subsequently::
1 Written a revised and up to date summary of my dealings with Optionrally and yesterday sent this document to ISA, CySEC, the Financial Ombudsman in Cyprus and ACORN. Every claim I have made in this document can be backed up with emails and other extensive documentation. I have been well trained when writing an extensive thesis for my Master's degree and am well aware of the need to support claims of fact with hard evidence. I believe I have done this carefully and adequately.
2. I emailed Optionrally yesterday to inform them of the above actions which I had taken and also informing them that :
"As previously stated, I will not accept a settlement less than the return into my bank account in Australia of 100% of my capital owing.This currently amounts to approximately $19,032.78 USD. As a Christian, I will not go back on my word."
3. My motivation for doing this is that:
a) I believe any settlement less than the return of the full amount would be unfair.
b) I believe I must keep my word once spoken.
c) Finally I wish to help to protect others from this kind of scam and as Edmund Burke wrote in 1770, ."When bad men combine, the good must associate; else they will fall one by one, an unpitied sacrifice in a contemptible struggle."
I will keep you informed of any developments.

 

[Pharaoh]

Way to go Woodfire!

Go ahead and also file with eConsumer.gov You can also post the complaint IDs so that other people complaining about OptionRally can reference those in their reports.