Banc De Binary - Jim Young - badly lost

Aussie Scammed

Corporal
Messages
89
Hi all,

First of all, DO NOT USE BANC DE BINARY.
So it all started on January 30 with Ultimate Millionaire BluePrint, free software with Warren Green (supposedly the Green Machine for his money making ability) commentating that he wants you to be a millionaire too. Yeah right.
Connect to brokers to place your trades using our 91% correct signals. But you have to connect to the brokers. So I chose Banc De Binary and thats where the crazy stuff started.
I had deposited US $500 already to get started, I am interested in finance and world economics and I thought this was a small amount to wager and happy to lose if it didn't turn out.
Then Jim Young calls from Banc De Binary and after an hour of conversation (yes, I am separated and socially isolated) he says "Oh I feel chemistry here, I want to make you a millionaire".
I ask all sorts of questions, who are you, is that your real name (no real name Jeremy Popadopolous but had to change it in America when my wife and I couldn't get jobs), what have you done in your life, how rich are you, if you are rich why are you still working?
Got very reasonable answers to all my questions which I'm pretty sure were all lies, but he was SMOOTH. He had the script down pat.
So we start trading, we make a bit, we lose a bit. He books me one session with his analyst Raymond Reagan who takes me through the same stuff I've already done with Jim on the website so that was an hour wasted. Raymond promises next lesson we learn alot more. There was no next lesson. Raymond was sick for that one and then his name was never mentioned again.
So I follow Jim's trading signals and it's up and down, totally ignores the verbal instructions he gave me where we never place more than 4% of capital held on a trade.
Next thing, money gone. Ok, he says you put more in I can match it to 125%, it's free money, you don't even have to use your own money. So, more goes in, then he instructs me to sell my shares which don't pay enough of a dividend and invest with him. (YES, I am that sucked in by now). So that went up, then down, swings and roundabouts he says, market very unpredictable at the moment.
Next he says convert your superannuation through this company in Melbourne and we can trade back up with that capital, he says he wants me to be a millionaire so bad, I deserve it he says.
So all my super is gone, my savings are gone, my credit card is maxed out which is a high limit as I had been very good with my money before this.
He says try and increase the credit card limit. No from the bank. I say sorry, my trading experience is over and I have lost $113,250 USD and HE SAYS he lost $150,000 USD with me! (The bonus money people).
Then he says try and borrow money from my Mum (Hello, I'm 45!). OMG I LAUGHED, as if I was going to admit how much money I had lost to my mum and ask for more to trade back my money.

So I am currently in the process of emailing with Evelina from complaints, not getting anywhere of course.
Have already reported to SCAMwatch, ACORN, econsumer and have read lots of stuff on this forum which I wish I had come across in February. But I am that stupid, I think I would have dismissed this as a load of losers complaining! Yes I was really sucked in and wanted to believe . . .

A huge thankyou to all members on here, I have been reading for over two weeks now and am finally coming out of my black hole and shame and disappointment and embarrassment.
 

feaisland55

Corporal
Messages
109
Aussie--Do not feel ashamed and stupid: you want to get your money back, so you need to feel aggressive and smart. You might want to contact your credit card company soon to complain of fraud and request a chargeback against BdB. You also might want to see if you can get help from the CFTC(Commodities Futures Trading Comm) in the USA, which in February and March reportedly won a judgment against BdB and levied some big fines, perhaps to reimburse victimised customers(like you!). I suggest you type "Banc de Binary" in the FPA's search box here and read what is coming down. Best of luck to you!--feaisland55
 
Last edited:

Aussie Scammed

Corporal
Messages
89
Thanks for your reply, so far I have contacted my bank who issued the card over 20 years ago, who said it wasn't fraud and didn't want to speak with me after that.
I then had to ring their financial hardship line and admit I had been scammed and was given a lower percentage rate (20 down to 5).
I have written to them again yesterday with a link to the judgement from the US and am awaiting their reply.
I am still emailing with the complaints department. Evelina is not answering my questions just keeps referring me to the risk part of their website . . .
 

Comandant

Private, 1st Class
Messages
49
Aussie

Whatever u do, they wont admit any faults. U have to stay strong!
Evelina will only give u standard answers like u placed the trades by urself, u have approved the deposits etc.
Im collecting now all my evidence and I will initiate a back charge through my bank.
 

Aussie Scammed

Corporal
Messages
89
Yes, again today getting the standard response.
This afternoon I've emailed back telling her the risk warning and my declaration of deposit is not worth the paper it's written on due to the US ruling.
I also included the link http://www.timesofisrael.com/the-wolves-of-tel-aviv-israels-vast-amoral-binary-options-scam-exposed/ and have been ccíng the public@isa.gov.il, and this time cc'd director@ifsc.gov.bz after putting in a complaint on their website www.ifsc.gov.bz/ which is where Australian customers are supposed to complain to - International Financial Services Commission of Belize and at least I have an acknowledgement of receipt of the email from them (automated).
Then I stated that my bank will be commencing chargebacks on Monday.
Stick it to them hey!
 

naveen1020

Corporal
Messages
95
OMG.. Another shame scandal from BDB. BDB is expert and don't have human values. They will go any far to cheat. It's sad to see similar strategy again and again (i.e asking to increase credit limit, take loan from friends and family and worst thing is to empty even retirement funds).

Yes, you can get money back via credit dispute, but you have fight a bit to make bank accept your dispute cases. Approach a lawyer or get in contact with NetoB (who is also from Australia and got cheated in a similar way). Got his money back.

and Yes don't feel shame. I know the way how they make you believe with stories (i.e we are highly regulated firm under Cysec, best rated broker awards etc,.).

So I guess by this time you know the whole logic.

These binary options act as "Bucket Shops" and they make money only if you lose (or viceversa). Their only intention is to make you bankrupt.

Don't leave these scammers.
 

Aussie Scammed

Corporal
Messages
89
Thanks naveen1020, Westpac - my bank, are taking this seriously now.
Chargeback proceedings have started, I am awaiting snail mail to put in my evidence.
If not for this website, I don't know what I would have done . . .
Thanks to all here once again :)
 

Aussie Scammed

Corporal
Messages
89
All reports done thanks Pharaoh. ASIC which is SCAMwatch.gov.au, Australian Federal Police direct complaints to ACORN, econsumer.gov.
Interesting tidbit: Evelina kept on replying with "Australia is not covered by CySEC, you have to report to IFSC in Belize, so started cc'íng public@isa.gov.il and to director@ifsc.gov.bz and got IFSC reply of "You need to report this to CySEC".
I reply back, "I tried, the unique reference number which was eventually issued by Evelina is INVALID for CySEC"
Some good news is that my Credit Card balance shows all money returned but the funds are unavailable so someone from the bank is doing something for me.
I'm sure I will have to put in my evidence which I have plenty of before funds become available.
KICK BUTT!!!!
 

AnneW

Master Sergeant
Messages
314
got IFSC reply of "You need to report this to CySEC".
I reply back, "I tried, the unique reference number which was eventually issued by Evelina is INVALID for CySEC"
Banc de Binary are a bunch of major scammers! They have informed CySEC that they can provide services to countries outside of the EU - there's a list of countries on the CySEC website and Australia is one of these countries. They then turn around and lie baldly to our faces to say that they cannot provide the people they SCAMMED and STOLE money from outside of the EU with the unique reference number required by CySEC! They now LURK on the FPA forum to see what we write about them and how we intend to pursue claiming our STOLEN money back from them, so do NOT put anything that you do not want them to know about on the forum. Start a private conversation directly with the people you want to exchange information with. So they have now started to issue FAKE and INVALID "unique reference numbers" - another piece of evidence together with CySEC's rejection of that fake reference number that they have SCAMMED you for the bank to pursue your claim for a chargeback ...
 
Top