GUILTY Case# 2014-034 | paulm1162 vs lbinary.com

Based on the available evidence, do you believe that LBinary is guilty?

  • Guilty

    Votes: 44 97.8%
  • Not Guilty

    Votes: 1 2.2%

  • Total voters
    45
  • Poll closed .

paulm1162

Sergeant
Messages
125
Original FPA Traders Court Submission:

I am submitting the case against: www.lbinary.com

My Case is: I joined lbinary.com on 19/11/1013 and was immediately contacted by their head broker, a Chris Cooper, who went on the hard sell.
I agreed to deposit £315.00 on which 2 trades were placed, to show me how good he was. After 5 - 6hrs he persuaded me to take out 3 INSURED trades of £9000 which i could not afford, but was constantly told of the insurance so i could only lose £450.00 if all failed, 2 of which did, the insurance was returned as a bonus which i was going to have to turnover £315.00 + £9000 + 57000(ins/bonus) X 10.
On seeing this i complained, but he guaranteed he would get this turned over quickly. 5 days later he attempted theft out of my account,£12000, which he eventually put back.
The support dept said they would give me my money back as I had found out from a man called Tony Preston, claiming to be lbinarys head of damage control, amongst others, that these should have had insurance but C Cooper had not placed it. He even tried me to go into further debt and give him my credit card details to extend my credit even more and when i refused he accused me of not trying.
I have been lied to, deceived, cheated and stolen from.
This company are the biggest scammers going and should be imprisoned but refuse to give their London address. probably because they do not have one.
DO NOT use this scam company,
They all claim to be ex wall st, etc.
Claim to be legitimate but won't give address except their holding company Targaryen which are un reachable.
I have had all sorts of people from this company saying they will resolve the problem, the nearest i got was Ross Strabbo in support saying they would only need verification of the debit card ending xxxx knowing i had to destroy that card because of the attempted theft from my bank, i explained that my new and old card are linked anyway but claims they need it because of their bank, odd seeing as £7315.00 of the £9000 was paid via credit card, plus they had no such problem before when they were forced to give back £12000.
There damage limitation guy tony preston was rude, foul mouthed, aggressive and very very high pressure to get me into more debt.
This company have mentally and emotionally destroyed me, they care for no one only how much money they can extract with no intentin of giving a penny back, no matter how successful you are.

New thread in the Scam Alerts Folder:

Review is submitted by paulm1162 on 02/07/14

The company was first contacted about the issue on 11/21/13 the last contact was on 02/02/14

Details: Mainly chat, calls and lots of emails, please see an example of one below. p.s i have to send hundreds to get even one response.

Re: Contact Us - Dealing Room
support support

Jan 20

to me
Mr. Merriman we are looking in to this matter now and I would like to apologize on Tony's Behalf. We are working on giving you back your money. I need one thing from you please. I need a copy of your credit card that ends wit *2964. After we see this I do not see any problem with returning your funds. This is purely for verification.

As for our address in London I could not give this out but I could give you the address of our main office which could be found on the main page of the LBinary Website

Targaryen Holdings Limited, Suites 41/42 Victorya House, 26 Main Street, Gibralter.



Ross Strabbo
Support LBinary


On Mon, Jan 20, 2014 at 12:43 PM, lbinary <support@lbinary.com> wrote:

Name paul
Phone 0169736####
Email p.mXXXXX @XXXX.com
Department Dealing Room
Country
Message: 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

Paul Merriman p.mXXXXX @XXXX.com

Jan 20

to support
I can't give you a copy of that card as that was my debit card and not credit card ( as both were used to get the £9000 ) and after the attempted theft of the £12000 i contacted my bank immediately and had this card cancelled and a new one issued.
When chris cooper eventually returned the £12000 it went to both accounts and no verification was needed as the old and new cards are inter linked on their computers.

If you need my credit card photo ( purely for verification ) then I can send this to you.
I will however be speaking to my bank to make sure no funds are withdrawn, only deposited,
regards,

Paul Merriman
Paul Merriman p.mXXXXX @XXXX.com

Jan 22

to support
Is this Lbinarys attempt at stalling?
as i have heard nothing from you since i replied to your email, multiple times, as well as on the platform multiple times,
regards,

Paul
support support

Jan 23

to me
Mr Merriman did you throw away that debit card that ends with *2964? The banks are really on our case to see a copy of this card. Both front and back.

Please let me know



Ross Strabbo
Support LBinary


On Wed, Jan 22, 2014 at 1:15 PM, lbinary <support@lbinary.com> wrote:

Name paul
Phone 0169736####
Email p.mXXXXX @XXXX.com
Department Dealing Room
Country
Message: I can't give you a copy of the card ending 2964 as that was my debit card and not credit card ( as both were used to get the £9000 ) and after the attempted theft of the £12000 i contacted my bank immediately and had this card cancelled and a new one issued. When chris cooper eventually returned the £12000 it went to both accounts and no verification was needed as the old and new cards are inter linked on their computers. If you need my credit card photo ( purely for verification ) then I can send this to you. I will however be speaking to my bank to make sure no funds are withdrawn, only deposited, regards, Paul Merriman account number 8263

Paul Merriman p.mXXXXX @XXXX.com

Jan 23

to support
As I said before I had to destroy this card. No reason the banks should be on your case as this was my debit card which constituted £2000 of the £9315.00 the rest coming off my credit card. As I have already said you can contact Santander if you wish as they will tell you, both cards are linked. Why would your bank even need this information is a mystery as my account was opened using my credit card. The debit card was used to get the extra £2000 for the non existent insured trades ( as well as the attempted theft of £12000 ).
I suggest telling your bank to stop messing around and if need be contact Santander directly, as I am getting tired of all the delaying tactics.
Why Your bank doesn't know about basic card procedures is worrying?
Regards,
Paul Merriman

.
Paul Merriman p.mXXXXX @XXXX.com

Jan 23

to support
Paul Merriman p.mXXXXX @XXXX.com

Jan 23

to support
Hi Ross,
I have spoken to the banks and they say there is no reason you can't put the £9000 for mis-sold trades onto my credit card as you already have verification of that and have advised me not to give any details of my new debit card, for security purposes....naturally.
£7000 was taken via credit card and £2000 via debit card, yet it is the old debit card your "bank" want, odd!!
I also spoke to a lady in support this evening, she asked who my manager was, I said i don't have one, which is when i found out that chris cooper is still working there despite what i was told by tony preston in damage limitation.....or should that be damage inflation, just yet another lie.
Lied to, stolen from, deceived, mis-sold, the list is endless.

The bank have told me to open a dispute and if necessary will get my money back for me, I would rather not go down the legal route, so please try to expedite matters,

regards,

Paul

Company representatives' emails: <support@lbinary.com>

 

Attachments

  • lbinarydisputeevidence.doc
    143.5 KB · Views: 3
Would you like me to edit your email address and phone number out of the case file?
 
Couldn't upload certain files for some reason, which was annoying as these go into much greater detail about lbinarys behaviour,
Paul :(
 
I think there are limits on size and file extensions in the forum. A few years ago, I had to ask to get MT4 templates added to the acceptable file types list. What are the extensions and how big are the files.
 
AS of 12.45pm today, I had a David ? from lbinary.com, claiming that we could talk now or preferably on monday 17/02/14 at 12.00pm to allow myself time to prepare for the talk, even though he's got a meetimg at about 12.30?
He said "I understand you have a problem with our company" and asked me to explain, i told him of the mis sold trades which i have another broker there confirming saying that they should have had the insurance on but the other broker didn't do so and as this guy a tony preston (head of damage control?) was trying to get me to part with yet more money to get the turnover on the bonus funds over with (which should have been insurance).
I said no and if this event was such a big deal why can't you quadruple the £6000 already in the account but said it's not enough and really was hard selling, offensive, abusive, foul mouthed and aggressive.
Wanted my credit card details to get my debt limit increased....NO NO NO i kept saying to which i was accused of not trying, started off at wanting £20,000 then said even £1000 to show willing, more scamming.
I have tried to contact there headquarters as this is the only address they are willing to give even though they claim to be in London, yet turns out Targaryen Holdings, Gibraltar have no right to trade and have requested to be struck off.
As i wrote a few reviews of this site and what had been done to me, most notably for lbinary it seems on a site called Forex Peace Army, this david man said I would need to stART SAVING A LOT OF MONEY AS I AM GOING TO NEED IT AS THEY ARE GOING TO SUE FOR LIBEL AND DEFAMATION OF CHARACTER, unless on monday at 12.00 we can come to a mutually beneficial arrangement, unfortunately i have heard all the "I'll sort it" stuff before and just means wanting more money.
I feel really threatened and intimidated, like he knows i don't have money and is threatening me.
Claims to have recorded conversations, which if it were true would exonerate me, plus i have them on tape admitting insurance should have been placed as well as an email about other insured trades sayin with a third party insurer, but as i signed a paper to get what i thought was insurance saying that i understand all bonuses and "secured" trades are part of a play through of X25, well why is mine X10 and it was insured anyway??
As i have notified C.A.B hence trading standards, FCA, CFTC in U.S i wonder if they are feeling worried? as he seemed most adamant that to prevent them taking me to court what ever was discussed on monday would be recorded and legally binding??? HELP PLEASE i feel like a minnow against jaws!!!!

p.s he mentioned that my money was returned immediately on request - he was referring to the unauthorised staealing of £12000 from my bank, and it was not put back immediately as it was taken on the 27/11/13 and returned on the 7/12/13 after clearance so i accrued debt. I have started the credit card and debit card proceedure and don't know what to do if he starts threatening me with court on monday and forcing me into a corner. please help

regards,
paul


an email, evidence Insured Trades DO exist:

Tony Preston: Housing Starts Insured Trades
LBinary
x
Tony Preston

Jan 16

to me
Hello Paul,

LBINARY is a binary options trading platform. Binary options are very popular all over the world. Investors usually consider binary options in periods of market instability. Several significant advantages of the binary options trading are: Known-in-advance return, wide range of expiry time-points.


The LBINARY leading trading platform can be used for private and institutional investors worldwide. Our platform has the following characteristics:

1. 100% web based

2. Easy to understand platform, with a user friendly interface.

3. Direct, fast and accurate settlement of investor’s transactions


Our platform’s pricing and execution modules brought a new era in the online trading market. The use of the most up to date and advanced technologies allow us to ensure your safety, convenience and satisfaction.

Trading is available at any time as far as the chosen asset is being traded in the relevant market, plus we receive accurate data streams from our data provider – Thomson Reuters. It is strongly recommended to go through our terms and conditions and become fully aware of the difference between the real time market price – according to which our options expire – and the level we offer options at.

Clients funds are held in a segregated account. Funds are used only for trading options through our website upon client’s instructions and not being used for any other cause. Our liabilities and exposures are professionally handled and we guarantee payouts of your profits based on our terms.

The LBINARY team consists from experts experienced in trading.

Insured trades - Friday 17th 2014
95% of these trades our insured by LBinary's 3rd party insurance company.



Housing starts- measures the change in the annualized number of new residential buildings that began construction during the reported month. It is a leading indicator of strength in the housing sector.
A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.

Let´s talk about how to trade this release: We´ll wait for the numbers to come out but continue to hold on a trade, Even if we get our trade-able figures. Wait for a possible revision of the previous release number, and market usually overreacts with the Revision and chances favor that a solid trade will present itself if we don’t get conflicting releases between the revision and the actual release; at this point, still stay out of the market.

Then the next step is to wait for the Housing Starts, If the Housing Starts were to surprise higher than expected, we’ll have to make a decision based on the market sentiment coming into this release… Of course, if Housing Starts were to fall below expectation, then we should see a drop in USD as traders speculate Fed bond tapering in September.

After all of the numbers have been released, wait for the market to push and wait patiently for a decent retrecement before getting in. Look for recent support/resistance areas for entry as a high impact news with various components are extremely volatile, and those who are patient will always get a chance to enter with a much better entry.
Thank you,

--

Tony Preston
Senior Broker

Skype: tonyp.lbinary
Email : tonyp@lbinary.com
LBinary - Binary Options Brokerage Firm
Phone Number: +44 800 048 85 07

This message contains confidential information and is intended only for the individual named. If you are not the named addressee you should not disseminate, distribute or copy this e-mail. Please notify the sender immediately by e-mail if you have received this e-mail by mistake and delete this e-mail from your system. E-mail transmission cannot be guaranteed to be secure or error-free as information could be intercepted, corrupted, lost, destroyed, arrive late or incomplete, or contain viruses. The sender therefore does not accept liability for any errors or omissions in the contents of this message, which arise as a result of e-mail transmission. If verification is required please request a hard-copy version.

This message is confidential. It may also be privileged or otherwise protected by work product immunity or other legal rules. If you have received it by mistake, please let us know by e-mail reply and delete it from your system; you may not copy this message or disclose its contents to anyone. Please send us by fax any message containing deadlines as incoming e-mails are not screened for response deadlines. The integrity and security of this message cannot be guaranteed on the Internet.

This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the system manager. Please note that any views or opinions presented in this email are solely those of the author and do not necessarily represent those of the company. Finally, the recipient should check this email and any attachments for the presence of viruses. The company accepts no liability for any damage caused by any virus transmitted by this email.


Disclaimer:

The sender of this email is by no means guaranteeing any results, or any profits to any client. The sender does not hold any investment licenses and any recommendation given is at your own risk, so the trader (recipient) should carefully examine any recommendation given before accepting it.


PAST PERFORMANCE IS NOT A GUARANTEE FOR FUTURE RESULTS; MARKETS FLUCTUATE


--

Tony Preston
Executive Head Broker
Damage Control

Skype: tonyp.lbinary
Email : tonyp@lbinary.com
LBinary - Binary Options Brokerage Firm
Phone Number: +44 800 048 85 07
 
Now they have cut all contact? mmm which is what the bank and the action fraud team advised, but still don't get me back my £9315.00 i was scammed out of.
I doubt anyone has received a single penny back from this company above what they invested.
They care not one bit that i am in debt big time they just continued with high pressure sales tactics, whilst seemingly giving themselves random titles such as head trader, head of finance, damage control etc the list is endless.
 
Original FPA Traders Court Submission by paulm1162:

They daliberately try to avoid putting anything in email format as it may be used as evidence,
these people don't give a damn about anyone but scamming as much out of people as possible and all their so called attempts at a resolution have involved investing more money......that's called "throwing good money after bad"
I had the manager on the phone saying they would give £3000 back plus £10,000 which yet basically means i get nothing as this i have to turn over and over ad infinitum, plus to post a retractment on this site.
Prior to the conversation, back on friday, i was told legal action would be taken against ME if i refused, for libel, now they are resorting to blackmail and threats.
Said i needed to think, but he never got back to me, good, think they have realised hopefully there are some big agencies investigating them.....well at least i hope so......
 
LBinary has failed to reply to an invitation I sent them early last week. This case is now going to the Open Cases folder.
 
paulm1162

LBinary has failed to reply to an invitation I sent them early last week. This case is now going to the Open Cases folder.

Im very sorry to hear what these "Things' are doing to you. Many of us out here have been through simualar. But dont loose heart fight them. There intimidation is what they are good at but you are not alone. We must always keep a track on these Mungrels because they jump from puddle to puddle doing this type of thing, they dont believe it but they are going to get theirs, they always do
 
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