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Problem Lbinary scam
- Thread starter paulm1162
- Start date
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- Tags
- lbinary.com
I am having an issue with a company
T-Tech Enterprises
Recruit
- Messages
- 7
Hi everyone. I saw this thread after doing a google search and wanted to tell my own story. I signed up to this forum just for this because what happened to the first poster "paulm1162" happened to me.
I came across binary options through another website "intellitraders" who had LBinary as one of their top brokers. Anyway, I am unsure to this day how LBinary even contacted me. I NEVER signed up myself on their website or anything. My information must've been passed to them somehow. Anyway, December 4th 2013 I get a call from LBinary on behalf of a "Michele Zapos". She is friendly, she tells me all about binary options, speaks to me for about 45 minutes and in the last 10 minutes I tell her I'd feel comfortable investing just $500 dollars and seeing how I do. She suggests this is "baby money" and that I should invest at least $2,500 to take advantage of the upcoming "NFP" trades coming up that friday and that the trades were insured backed and guaranteed. She also tells me I will get a bonus of $2,500 making my account $5,000. STILL NOTE : At this point I have STILL NOT have signed up to LBinary. Michele Zapos then goes ahead and CREATES MY ACCOUNT FOR ME. I loved the idea of course. So I let LBinary charge my debit card for $2,500. So now we skip to friday, December 6th. The whole time this "Michele Zapos" keeps in contact with me on Skype, assures me I am making the right moves, etc. The morning of the 6th, Michele Zapos isn't feeling well, has a cold, whatever. SO, a man named "Tony Preston" calls me in the morning around 8:30AM EST. He explains to me exactly what trade to enter and the parameters of the trade, so forth and such. Well its a short trade. 2 hours maybe. And it loses. Loses HARD AND BAD. I tell Michele Zapos that I'd like my money back and she says no problem and that I would get it back the following Monday. Monday the 9th comes along and I look in my LBinary account and $5,000 is there. Great. Then Michele Zapos informs me that I cannot actually withdraw any of money until I hit some 30x turnover and trade the money. I was outraged at this point because I was never informed upfront about any restriction about my money not being able to be withdrawn due to the loss of the insured trades. She tells me theres nothing I can do. 10 minutes later, "Tony Preston" calls me. He tries to explain that he doesn't know what happened, and why the trades went south and bad and assures me that if I just deposit another $2,500 that we can work together, make at least $20,000 in 2 months and I'd be fine. I tell him point blank NO, I stand my ground and tell him I just want my $2,500 back due to not being informed properly. He then gets VERY rude, cursing at me, telling me my $2,500 is baby money and it doesn't matter, that I should be a man and take the loss. That I'm not important due to it being only $2,500. I hang up on him. Then he calls back 5 minutes later telling me he can lower the turnover to x15 and such. I still tell him no. Then he starts pressuring me into using any credit cards I may have, any savings accounts, etc. I tell him I have no other money and I just want my $2,500 back and to part our separate ways. He skips right by my requests and continues to nag me for more money. THEN I just happened to be on my online banking account and I see it dwindle down right in front of my eyes. YES, This "Tony Preston" WITHOUT MY PERMISSION WHATSOEVER decided to charged my card until I had 1 dollar left in my bank account as a balance. He charged my card $700, $300 and $1,500. Rapid fire. Like 10 seconds apart from each other. I was outraged, I hung up and called my banking institution for help. They suggest I close my debit card. File a police report and come in and make a complaint and fraud complaint to get now $5,000 back. Not just $2,500. I was asking for the full $5,000 due to the first $2,500 being taken under false pretenses that I was insured and covered and would actually get it back into my bank account. So, I did all this within 24 hours. I stopped all communication with LBinary on December 9th. My bank informed me it would be a long process. I was prepared. LBinary needed documents, like utility bill, back and front of my credit card, My ID, etc. They NEVER asked me for this UNTIL IN MY BANK DISPUTE. My bank isn't stupid, they knew this was LBinary trying to cover their tracks and backtrack and such. I never filled that information out which they should of provided me ON DAY ONE. It was just too funny at this point. Furthermore Tony Preston tried contacting me several times. I never responded. So I filed my dispute with my bank December 10th. Got all my money back. All $5,000 of it returned to me by pleading my case hard March 15th. Just 2 days ago.
This place is a pure scam place. I suggest all to stay away.
I just wanted to share my story and if anyone has trouble with these people, I will try to help. DO NOT SIGN A SINGLE SHRED OF DOCUMENTATION THEY SEND TO YOU. Even if you do, I still think you can get your money back, but just don't if they offer and give it to you.
Thank you.
T-Tech Enterprises
I came across binary options through another website "intellitraders" who had LBinary as one of their top brokers. Anyway, I am unsure to this day how LBinary even contacted me. I NEVER signed up myself on their website or anything. My information must've been passed to them somehow. Anyway, December 4th 2013 I get a call from LBinary on behalf of a "Michele Zapos". She is friendly, she tells me all about binary options, speaks to me for about 45 minutes and in the last 10 minutes I tell her I'd feel comfortable investing just $500 dollars and seeing how I do. She suggests this is "baby money" and that I should invest at least $2,500 to take advantage of the upcoming "NFP" trades coming up that friday and that the trades were insured backed and guaranteed. She also tells me I will get a bonus of $2,500 making my account $5,000. STILL NOTE : At this point I have STILL NOT have signed up to LBinary. Michele Zapos then goes ahead and CREATES MY ACCOUNT FOR ME. I loved the idea of course. So I let LBinary charge my debit card for $2,500. So now we skip to friday, December 6th. The whole time this "Michele Zapos" keeps in contact with me on Skype, assures me I am making the right moves, etc. The morning of the 6th, Michele Zapos isn't feeling well, has a cold, whatever. SO, a man named "Tony Preston" calls me in the morning around 8:30AM EST. He explains to me exactly what trade to enter and the parameters of the trade, so forth and such. Well its a short trade. 2 hours maybe. And it loses. Loses HARD AND BAD. I tell Michele Zapos that I'd like my money back and she says no problem and that I would get it back the following Monday. Monday the 9th comes along and I look in my LBinary account and $5,000 is there. Great. Then Michele Zapos informs me that I cannot actually withdraw any of money until I hit some 30x turnover and trade the money. I was outraged at this point because I was never informed upfront about any restriction about my money not being able to be withdrawn due to the loss of the insured trades. She tells me theres nothing I can do. 10 minutes later, "Tony Preston" calls me. He tries to explain that he doesn't know what happened, and why the trades went south and bad and assures me that if I just deposit another $2,500 that we can work together, make at least $20,000 in 2 months and I'd be fine. I tell him point blank NO, I stand my ground and tell him I just want my $2,500 back due to not being informed properly. He then gets VERY rude, cursing at me, telling me my $2,500 is baby money and it doesn't matter, that I should be a man and take the loss. That I'm not important due to it being only $2,500. I hang up on him. Then he calls back 5 minutes later telling me he can lower the turnover to x15 and such. I still tell him no. Then he starts pressuring me into using any credit cards I may have, any savings accounts, etc. I tell him I have no other money and I just want my $2,500 back and to part our separate ways. He skips right by my requests and continues to nag me for more money. THEN I just happened to be on my online banking account and I see it dwindle down right in front of my eyes. YES, This "Tony Preston" WITHOUT MY PERMISSION WHATSOEVER decided to charged my card until I had 1 dollar left in my bank account as a balance. He charged my card $700, $300 and $1,500. Rapid fire. Like 10 seconds apart from each other. I was outraged, I hung up and called my banking institution for help. They suggest I close my debit card. File a police report and come in and make a complaint and fraud complaint to get now $5,000 back. Not just $2,500. I was asking for the full $5,000 due to the first $2,500 being taken under false pretenses that I was insured and covered and would actually get it back into my bank account. So, I did all this within 24 hours. I stopped all communication with LBinary on December 9th. My bank informed me it would be a long process. I was prepared. LBinary needed documents, like utility bill, back and front of my credit card, My ID, etc. They NEVER asked me for this UNTIL IN MY BANK DISPUTE. My bank isn't stupid, they knew this was LBinary trying to cover their tracks and backtrack and such. I never filled that information out which they should of provided me ON DAY ONE. It was just too funny at this point. Furthermore Tony Preston tried contacting me several times. I never responded. So I filed my dispute with my bank December 10th. Got all my money back. All $5,000 of it returned to me by pleading my case hard March 15th. Just 2 days ago.
This place is a pure scam place. I suggest all to stay away.
I just wanted to share my story and if anyone has trouble with these people, I will try to help. DO NOT SIGN A SINGLE SHRED OF DOCUMENTATION THEY SEND TO YOU. Even if you do, I still think you can get your money back, but just don't if they offer and give it to you.
Thank you.
T-Tech Enterprises
Pharaoh
Brigadier General
- Messages
- 20,309
Excellent information!
Lessons to be learned:
1. Don't deposit with a questionable broker using bank wire. After a few days, that money can't be recovered. Instead, use a credit or debit card.
2. Don't use a debit card tied to your main bank account or a credit card with a high limit. Even if you can get all the money back, this takes time and can become very inconvenient.
3. Don't hesitate to get in touch with the fraud department at your bank. I've seen different reports on deadlines. Better to open the discussions and learn about deadlines today than to wait until next week and find you've missed a deadline by 2 days.
Of course, if you skip binaries and stick to forex brokers under better regulation, you'll find the above advice is much less likely to be needed.
Lessons to be learned:
1. Don't deposit with a questionable broker using bank wire. After a few days, that money can't be recovered. Instead, use a credit or debit card.
2. Don't use a debit card tied to your main bank account or a credit card with a high limit. Even if you can get all the money back, this takes time and can become very inconvenient.
3. Don't hesitate to get in touch with the fraud department at your bank. I've seen different reports on deadlines. Better to open the discussions and learn about deadlines today than to wait until next week and find you've missed a deadline by 2 days.
Of course, if you skip binaries and stick to forex brokers under better regulation, you'll find the above advice is much less likely to be needed.
T-Tech Enterprises
Recruit
- Messages
- 7
I did go to my bank's fraud department. The process takes 60-90 days and for me it only took 57 days so it could of been worse. I made a VERY good case. Video, many documents, and many findings. Also, I didn't mention that when I told "Tony Preston" that I would be going to my bank and police to get this resolved, he strong-armed me and told me that I was wasting my time, that he had me on tape agreeing to all the charges, blah blah, etc. I didn't let this fool bully me. Again, I hope all see this thread. I don't care if it's $100 or $10,000, don't put your money here. You will either 1. Have a hard time getting it back or 2. NOT get it back at all.
Thank you.
Thank you.
Pharaoh
Brigadier General
- Messages
- 20,309
So many people fall for what the bully's say. People need to get in touch with the fraud departments at their banks and carefully explain exactly what happened. Tell the bank the complete story and ask if a chargeback is appropriate.
If you do file a chargeback, the company that made the original charges against the card can dispute your chargeback. If they do, then the bank will look at it and make a decision - and the decision won't be based on who can talk the fastest or use the most effective bullying tactics. If the company doesn't dispute or a dispute ruling is in your favor, then your money will eventually come back to you.
If you do file a chargeback, the company that made the original charges against the card can dispute your chargeback. If they do, then the bank will look at it and make a decision - and the decision won't be based on who can talk the fastest or use the most effective bullying tactics. If the company doesn't dispute or a dispute ruling is in your favor, then your money will eventually come back to you.
paulm1162
Sergeant
- Messages
- 125
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
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
paulm1162
Sergeant
- Messages
- 125
Good for you, one for the good guys 
Think you were extremely fortunate also as most banks say it isn't theft or fraud if you give them your details, plus with a debit card they seldom do anything unless pushed (which mine have been).
Lbinary have marked £7315.00 in my Lbinary account as having been approved for withdrawal since 3/3/14 yet neither bank have received anything, bloody liars, scammers and scum.
Think you were extremely fortunate also as most banks say it isn't theft or fraud if you give them your details, plus with a debit card they seldom do anything unless pushed (which mine have been).
Lbinary have marked £7315.00 in my Lbinary account as having been approved for withdrawal since 3/3/14 yet neither bank have received anything, bloody liars, scammers and scum.
T-Tech Enterprises
Recruit
- Messages
- 7
Good for you, one for the good guys
Think you were extremely fortunate also as most banks say it isn't theft or fraud if you give them your details, plus with a debit card they seldom do anything unless pushed (which mine have been).
Lbinary have marked £7315.00 in my Lbinary account as having been approved for withdrawal since 3/3/14 yet neither bank have received anything, bloody liars, scammers and scum.
I am quite certain the reason you are having such a hard time is due to the fact you must live in Europe/UK or whatnot. I am in the United States. No offense to you of course but the UK and such, very shoddy with finances over there and just never a country I would trust with any funds of mine. The United States takes a lot more security with money than any other country in the world. Just a small example is a business partner of mine is from the UK and he showed me his license, NO information on it about who is and it's some crappy black and white photo. Here in America? Color photo, your weight, hair color, eye color, city, state, address, and a 9 digit ID number. Why? Because we take security seriously here in this country. We also don't have ridiculous fees and taxes like overseas and UK. SO, you may have to push harder where you are for the bank to take you seriously or/and get your money back to you. A lot of people hate America BUT....at the end of the day this is still the country with the most protection and the most freedoms. I can actually badmouth my president here with no consequences. Badmouth the Queen of England? Different story....so I've heard.
Take care and fight the good fight!
