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

[paulm1162]

This sounds like clear cut fraud.

I'm confused on one point though. How much money did you actually deposit? By reading the description it seemed you deposited $315 and change and then were enticed to make a $9,000 wager. Did you deposit more money at that time?

Here's the thing that struck me the most... It is illegal, certainly against any broker/dealer regulatory rules and regulations to provide guarantees or "insurance" against loss to any customer accounts. If such "insurance" were available the markets would be a zero risk game. If everybody won, where would the funds come from to cover the "winners" who were correctly positioned for the market move?

In any case, even if the broker does finally return the plaintiff's funds, the broker belongs in the fraud file.

Hi dbrawner,
originally i funded it with £315.00 on which i placed 2 trades so the broker could show how "brilliant" he was at reading the markets, making £40.00 profit combined.
He went on for 5 hours, finally and only after guaranteeing me that these were insured against loss of 95% and were not part of any bonus did I take one and eventually three, totalling £9000.00 for the "insured" trades, as even though i didn't have that kind of money was persuaded to max out credit card due to insurance.
When 2 trades failed i got back £5700.00 as a bonus which the broker claimed i had to play through 10X,.which meant £9315.00 + £5700.00 X 10 (a figure which varied depending how close you got to it)
A week later, after trying to get me to turn it into a managed account and my refusal, the broker withdrew £12000.00 from my debit card without ANY authorisation, unless you call NO as authorisation, I later THOUGHT i had been paid this money back as it had all been returned, but my credit card has attempted a charge back for £7000.00 for mis sold trades, (the other £2000.00 coming from debit card), but this has been denied as Lbinary claim £7000.00 has already been paid back to credit card, but this was because, of the stolen £12000.00 NOT THE INSURED TRADES, they paid £7000.00 onto my credit card and £5000.00 onto my debit card.
When i asked support why this was they just said "it's just the way we do things" and in another email said they had to place the money back where it came from??? odd!! as it all came from my debit card.
They are thieves, liars and scammers.
The above just goes to show their obvious fraudulent way of avoiding charge backs, not to mention their threats and blackmail attempts ie "we'll let you have £3000.00 plus £10,000 bonus if you place a retractment of my complaint on forex peace army site", this as well as not prosecuting me.........b****ds

 

[christinamarrison]

boy, these are large sums but hang on in there with the strength of the FPA to support you. If it is any consolation I was taken hook, line and sinker for more than your sums by other traders and only wish I had known about the FPA. Good luck.

 

[UncleSteve]

crud, I missed voting on this one. Well, I hope replying to the forum means UncleGoogle associates one more web page with lbinary so the next guy finds this before their sales BS.

Who voted "not guilty"? From a completely unprejudiced point of view and from a purely sociological interest, I'd love to know why...

 

[paulm1162]

crud, I missed voting on this one. Well, I hope replying to the forum means UncleGoogle associates one more web page with lbinary so the next guy finds this before their sales BS.

Who voted "not guilty"? From a completely unprejudiced point of view and from a purely sociological interest, I'd love to know why...

Hi UncleSteve,
personally i suspect it was someone from Lbinary themselves

 

[paulm1162]

boy, these are large sums but hang on in there with the strength of the FPA to support you. If it is any consolation I was taken hook, line and sinker for more than your sums by other traders and only wish I had known about the FPA. Good luck.

Thanks, just wish i knew there location......boom!!!
Now they are trying to say that the returned £12000-which was stolen from debit card-was payment back to the credit card for mis sold trades, as when they did return the £12000, they placed £7000 on the credit card and £5000 back to debit card, which effectively means that there is still £7000 of missing STOLEN money missing.........thieving, lying, cheating, scamming B*****DS

 

[FXBO]

Hello paulm1162,

My name is Stephen Smith & I am one of the co-founders of FXBO. Now I am not promising you anything here, and our website is in pre-launch mode & I am NOT here to advertise our website in any shape or form. You will not find us within the Internet right now, but I would be prepared to have a chat with you, if you can PM me back? Just one thing, the 3 of us behind this pre-launched website all have different jobs within the Forex fields / markets.

All I can say, is like the great job the guys do here at "Forex Peace Army", we are trying to do our bit as well. Anyway if this may just help you, I know Roy Stein & he is the VP in the marketing section / department of LBinary & I have him on my Skype. I see LBinary have not had the good sense to even make contact to the FPA, and it certainly does not bother me to upset any scammer as they should be named and shamed and of course better still give back monies owed to clients of theirs. Naturally scammers do not care whom they upset, as long as their pockets get lined more and more each day. I know I am not telling anyone here within this forum anything new, all I would like to try and do is help if possible?

I will get back to you as soon as I can Paul & lets see after we have spoken if I can help you in anyway legally possible.

All the best and keep up the great work done here at "FPA" and sorry that my first post has to be one written at a fellow members misfortune.

Stephen Smith.

 

[paulm1162]

Sounds like a plan, perhaps you could tell this Roy Stein to force those thieves to give me my money back.

 

[paulm1162]

I opened dispute in plenty of time, with lots of evidence yet they still rejected my banks charge back, claiming they had already deposited £7000 to my credit card, which was in fact nothing to do with the disputed transactions but was actually part payment for a separate £12000 of stolen money, the other £5000 going to where it had come from, my debit card.
So mbna are persuing it through visa and I have also opened a dispute with my debit card bank as if Lbinary are claiming that the £7000 was for the mis sold and bogus "insured trades" then that means there is still £7000 of stolen money missing plus the extra £2000 as the insured trades totaled £9000.
I even have sent them evidence of support and chris cooper acknowledging a mistaken withdrawal (there words not mine) and when i asked why the £12000 of stolen money had been split between credit and debit card they just said it's the way they do things, but now i am beginning to see that they are used to charge backs and use the stolen funds as a way of conning the banks into believing disputed monies were returned.
I wish I knew where these people lived, they are lying thieves, preston even claimed he spent more than the total i had "invested" on lunch that day....T**T, and just like you he talked about being a man, shame he aint one