GUILTY Case# 2017-011 | taoem vs genevaoption.com

[taoem]

Also, another point I must make is that is Geneva Option is so innocent, why would they lock my account and stop answering my emails? That alone would be bad enough, but the fact that they are holding $20,000 of my money makes it look even worse for them.

 

[taoem]

Good day
First I am NOT an employee of Geneva Option (GO) although I do trade with them. I think that taoem's case is full of holes...

TinRSA, I have already responded comprehensively to your argument on the previous page. However, I have also noticed something else. The only post you have made so far since Nov 2016 is one defending Geneva Option. Coincidence? Possible, but I highly doubt it.

The much more likely scenario is you are on Geneva Option's payroll, coming to try and discredit my argument. Unfortunately, my case is strong, and it is all too easy to counter your arguments, as I have already done. It will also be the same when the regulators and lawyers coming knocking on Geneva Option's door in Israel.

 

[TinRSA]

I'm afraid my case is not full of holes, as I will now go through and pick apart every one of your points.

I transferred $6000 and $3100 to Advanced Cash, a 3rd party online transfer site. The $3100 was made as I did a chargeback of my initial $3100 deposit due to Geneva Option's questionable activities. These funds are still with Advanced Cash, not Geneva Option.
If the funds are still with Advanced Cash and not with Geneva Option, how can you hold Geneva Option responsible. That is why these amounts are not on your History Statement (your Document #4). If the initial $3100 was charged back, it could be that Geneva Option never received it. Please check your History Statement - those are the only amounts that GO has. As an ex Forensic Accountant, I think I can read statements.
In you original thread before this was taken to court you mentioned another amount that was transferred from another broker. Why was this not part f your case?
As already stated, my initial deposit was $3100, which was made on 12 Aug 2016 (ref. Document 4). This is clearly before the $20,000 credit which was put into my account on 1 Sept 2016. And yes, this was done without my consent.
I agree that I got the date wrong on that deposit
It appears you are getting your dates mixed up. I stated VERY CLEARLY AT THE BEGINNING OF MY CASE that all dates are of the format DD.MM.YYYY.
No, I agree with you. The dates on all your statements presented as proof have the same date format. I was wrong only on the $3100 deposit. Question is, did you do the trades subsequent to the $20 000 loan since the value of the trades on 05.09.2016 is $10,000 wich is obviously more than what you had deposited. By virtue of using those funds to trade you had acknowledged and approved the loan - that is what a real court will hold you to.
Document 4 is not an old statement. I will prove this by attaching my transaction history as of 9 Jan 2017. You will note that it matches Document 4.
Yes it does and that is my case. The statement only shows one deposit from you and the loan of $20,000
The 2 transaction of $7000 I made in Oct 2016 are not shown in the transaction history, I suppose because:
a) It is being used to cover the credit.
b) Geneva Option can deny they ever received them.
c) All of the above.
If Advanced Cash can send you proof that the funds were transferred to Geneva Option (not just saying they did), then you will have a perfectly ligitimate fraud case against them and you should go to the police with that.
Fortunately, I got confirmation that the $14,000 USD was received (ref. Document 19).
Document #19 is a screen shot of Skype conversation and not a confirmation of receipt of a deposit. You mentioned that Geneva "can see" that you covered $14000. That is not the proof you need. It needs to reflect on your History Statement, I advise that you question this with Geneva and contact their customer support, unless these amounts are still with Advanced Cash at your request. in that case you cannot hold Geneva accountable for the funds.
You have asked for confirmation that the account history is valid, and you have it.

It is your choice whether or not to trust the FPA, but I am afraid that all of the points you have made against my case have now been countered. I strongly suggest you get your money back from Geneva Option as soon as possible, before you find they lock your account and stop answering your emails too.

.
I have been with my account manager at GO for some time and actually moved from another broker with him and I am quite confident about his reliability.

 

[TinRSA]

TinRSA, I have already responded comprehensively to your argument on the previous page. However, I have also noticed something else. The only post you have made so far since Nov 2016 is one defending Geneva Option. Coincidence? Possible, but I highly doubt it.

The much more likely scenario is you are on Geneva Option's payroll, coming to try and discredit my argument. Unfortunately, my case is strong, and it is all too easy to counter your arguments, as I have already done. It will also be the same when the regulators and lawyers coming knocking on Geneva Option's door in Israel.

As I said I am most definitely NOT on Geneva Options payroll. I live in a totally different country but I am a trader with them. Geneva Option is not in Israel. Their holding company is in the Marshall Islands and they have an office in Geneva and in London. I did make other posts if you would like to know but it was about another broker that I was with and not very happy with.

 

[relaxos]

Do we really need to vote on cases like this? Open and shut, guilty.

 

[TinRSA]

Do we really need to vote on cases like this? Open and shut, guilty.

Yes we do. If you are too lazy to read and think, don't just pronounce someone guilty. Imagine you being at the receiving end of a lot of nonsense.
I sincerely hope someone from Admin is following this thread and that they look into the issues a little more comprehensively. I also hope they will release my other reply that is awaiting approval. It will be a disgrace to sanction a broker on the evidence produced and funnily enough, none of the other so-called affected people are coming forward. I'm keeping a open mind and if there is more compelling evidence I will vote.

 

[snapped2002]

So they keep giving you bonuses to keep you from withdrawing.
That's the basic idea from what I am seeing.
The onus is not on you to prove that you did not ask for the bonus.
The onus is on them to prove that you agreed to it.
When I signed up with my broker I made it VERY clear that I do not want any bonuses of any kind at any time, PERIOD. I did this in a chat with support.

I will give this a day or so for them to produce proof and if not then I am voting guilty.

Cheers.

 

[TinRSA]

So they keep giving you bonuses to keep you from withdrawing.
That's the basic idea from what I am seeing.
The onus is not on you to prove that you did not ask for the bonus.
The onus is on them to prove that you agreed to it.
When I signed up with my broker I made it VERY clear that I do not want any bonuses of any kind at any time, PERIOD. I did this in a chat with support.

I will give this a day or so for them to produce proof and if not then I am voting guilty.

Cheers.

There was no bonus given but a credit that is a loan until the client deposits the money. Money which is said to have been paid but did not reach the company, so i this case the complainant is trying to withdraw funds which he did not deposit in the first case.

 

[taoem]

Yes we do. If you are too lazy to read and think, don't just pronounce someone guilty. Imagine you being at the receiving end of a lot of nonsense.
I sincerely hope someone from Admin is following this thread and that they look into the issues a little more comprehensively. I also hope they will release my other reply that is awaiting approval. It will be a disgrace to sanction a broker on the evidence produced and funnily enough, none of the other so-called affected people are coming forward. I'm keeping a open mind and if there is more compelling evidence I will vote.

As I said I am most definitely NOT on Geneva Options payroll. I live in a totally different country but I am a trader with them. Geneva Option is not in Israel. Their holding company is in the Marshall Islands and they have an office in Geneva and in London. I did make other posts if you would like to know but it was about another broker that I was with and not very happy with.

You say you have been posted in other threads about a different broker, but your post history only shows your 4 posts here. Perhaps you can shed some light on that?

I am already in contact with several other victims of Geneva Option. We are taking joint legal action against them, and one of them has advised he will be posting about his experiences here shortly.

The original amount was my balance with another broker called Binismo, who was partnered with Geneva Option. They have since gone out of business, so unfortunately I cannot pursue them. My balance with Binismo was transferred over to Geneva Option, which is why my starting balance was $10,000, which included the $3100 I deposited initially (and since successfully had charged back).

The only funds I have with Advanced Cash are the $3100 and the $6000 transfers I made in Dec 2016. The two transfers of $7000 made in Oct 2016 were transferred to Advanced Cash, and then to Geneva Option as per instructions from my broker (ref. Docs 14, 17, 18). It was confirmed to me by 'Mike Kos', Support and Financial Department, that the two transfers of $7000 have been received by Geneva Option.

I would love to get a written confirmation that the transfers were received, but as I have already explained, Geneva Option have stopped responding to my emails. Again I ask, does that sound like something a reputable company would do?

Geneva Option were given ample opportunity by me to reopen communication. They were then formally invited by the FPA to join the discussion and provide their side of the story. All have been met with silence, and it is clear they have no intention of responding or returning my money.

 

[taoem]

Also, you mention that Geneva Option has offices in Geneva and London, as per their website. However, Swiss regulator FINMA has advised me that Geneva Option has "no seat and no physical presence in Switzerland". Yet another lie that Geneva Option has told, which further indicates a scam. I have been doing a lot of digging and have been advised that they are really based in Israel. I will do further research and post their real location once I have it.