GUILTY Case# 2015-062 | naveen1020 vs bancdebinary.com

[naveen1020]

Original FPA Traders Court Submission:

I am submitting the case against: bancdebinary.com

My Case is: I was cheated with BancDeBinary. I have opened account last december (2014) with the assurance of making good profits and they will guide with signals. Initially deposited 5k and lost. He asked to deposit another 5k and lost that too.
I repeatedly asked to provide risk free trades as agreed or to provide few signals, atleast weekly or daily.

But no one responded for 2 months. They will just keep dragging and will inform us that they will take us to recovery department.

Initially lost 20k. I asked account manager to help me recover, but he asked me to deposit more so that I will get access to VIP department and I can recover quickly. Initially said will get 125% bonus if deposits more than 50k. After deposited ~67k, he didn't gave bonus and asked me to deposit 10k more to get all bonus.

As I became desperate to recover my losses, I deposited. So my total deposits were ~77k. Then added bonus. Then I asked to provide signals. For first 2 days, gave one signal per day. This is against initial assurance given that they will provide daily few signals and I can recover all my losses.

Then he asked me to deposit another 10k to get daily 5 signals. I didn't deposited. He keep asking me for 2 days and I didn't deposited any more.

He made out that I hit the limit. My account Manager came to know that I enquired about withdrawal process.

As part of conspiracy, gave good signals coupled with bad signals and took my balance from 125k to 10k in an 1hr and then to 3k with all wrong signals.

He gave ~15 signals, all short intervals (10mins or 15mins) with ~10 to 14k each. 90% losses in one trade. When I resisted to open, he called and asked me to open and asked to trust him as they are experts. Lost all the money. When asked, no one responds. Again asking us to deposit more.

I have all the skype conversation with everyone from start and proof giving signals at each interval.

This is a very big white collar scam that won't allow you to withdraw your money at any cost. If you keep depositing, you keep loosing.

Skype id's: Eric Baker, David Hope, Danny Goldman, Chris Cooper.

Danny Goldman is head for all these and behind the master plan. He keep stressing me to deposit 10k, when I already deposited 77k. Chris emptied my account.

Lost all my money and they will en cash if you are more desperate to get your losses. I pleaded multiple times to just help me to recover losses and I don't want any profits, but they just emptied my account.

New thread in the Scam Alerts Folder:

• https://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/39543-bancdebinary-scam-blood-suckers.html
  

Review is submitted by naveen on 03/27/15

The company was first contacted about the issue on 03/15/15 the last contact was on 04/16/15

Details: The main response from the firm is to deposit another 10k USD and they will try to recover. Same was informed to me multiple times earlier and bankrupted.

Here is one quote of their response...This shows how he is careless.

from: Danny Goldman <dannyg@bbinary.com>

Stop trying to point figures, we are a multimillion dollar corporation, your bad review threats don’t scare me.

Company representatives' emails: Danny Goldman <dannyg@bbinary.com>
Jack Stanfield <jackst@bbinary.com>
Harvey Ross <harveyr@bbinary.com>

 

[Pharaoh]

I recommend everyone take the time to download and read the text files. The high pressure to deposit more money is sickening.

Yo AsstMod! Can a formal invite be issued today?

 

[AsstModerator]

Formal invitation sent.

 

[AsstModerator]

Danny's reply was less than satisfactory. He blames you for the losses claiming that most of the trades were done without the advice of Bance de Binary account managers. In the evidence files attached, I see trades being called by both Danny Goldman and Chris Cooper. He also seems to think that the FPA asking for traders to be treated fairly is some form of blackmail.

This goes to Open Cases now.

 

[naveen1020]

Thank you for opening a case.

To add, they called multiple times asking me to open account and pressurized me to deposit money (immediately in next 1hr or so to get good signals), but after I deposit never provided signals. Over and above that, when emptied my account, i.e Chris Cooper, he didn't even cared to attend my skype calls (I called 10 over times). The evidence is clear from attached text files. This shows, how reckless they are.

Overall:
Initially, I trusted their words and deposited 5k, but after deposit never gave signals, hence I started to open trades of my own and lost.

Once lost they took me in loop, as I am desperate to recover. Asked me to deposit more and more in order to recover but never gave signals (asked multiple times to give signals. I have proof of both skype and mails for this).

Then informed me about VIP account (>50kUSD) info and gave assurance to recover all lost money in a week (as they provide 5 signals per day)

After deposit, again gave some or other reasons and still pressurized to deposit more money. Once we hit limit, emptied my account and didn't answered any calls. My overall loss ~77k USD. Emptied in an hr or 2 (i.e account balance went from ~125k USD to 10k USD with Chris Signals).

So, everyone stay away from this and if regulators visiting this thread, seriously consider to take action or close such brokers for a better community.

thanks

 

[jbinary219]

That's some of the most disgusting behaviour I've seen from any binary options firm. I guess there's a reason why BDB has the reputation it does.

I really hope you get your money back, Naveen. Danny Goldman and Chris Cooper sound like complete *******s. They're not big, they don't manage millions, they sit in an office somewhere in Israel and scam people because they're not capable of doing anything productive with their time.

 

[Master Yoda]

Looking forward to vote on that one

 

[naveen1020]

Thank you for @jbinary219 for your concern. I hope so.

Here by attached the proof of lost trades. This matches with the skype signals provided (and subsequently, they didn't answered my skype calls that day once made losses).




Take note, even next day, again I highlighted and asked to provide risk free or only confirmed good trades but he did the same. This clearly shows its intentional.

i.e
26/03/15 --- Balance went from 125k to 10k due to wrong signals
27/03/15 --- Balance went from 10k to 3k due to wrong signals.

I have also registered a case with Singapore Local police. Now it will be tough, if in future they want to register a firm locally.

thanks
Naveen

 

[1wildhorse]

banc de binary are one of the most horrible excuses for a company i have ever known.are they guilty of wilfully emptying your bank account?100% YES....i really feel for you.

 

[Carrie07]

oh dear Naveen. Your experience sounds all too familiar with what I have just gone through with the same company. I did not lose as much as you but the pressure to max out credit cards is awful! I had a call from their 'recovery' dept who said they had investigated why I had lost as all my trades were done via advice from a broker using Skype. Lost £14,000 including their bonus. The person I spoke to said they found their traders had not followed risk management protocol and would therefore be fined £5000 each. The offer was that they would put that money into my account, with another £5000 bonus ...BUT I had to also put £5000 and I would be able to withdraw £20000 by 10 May. I originally maxed out and overdraw on my credit card limit in March and was told I would be able to withdraw 15,000 on 25 March ... Of course that never happened. So I am left with an overdrawn, maxed out credit card too. These people do not give a damn. I do not have another 5,000 to add and will not get further into debt!
Reading the two texts, I cannot believe how rude they have been to you and think that they do not have a conscience, nor any morals. Good luck with your Police case. I would be interested to hear how it goes.