johnnyb123
Recruit
- Messages
- 10
1) I am a citizen of South Africa and was attracted to an investment in binary trading to be able to invest some funds abroad for protection against the falling value of the South African Rand.
2) I undertook some research on the internet and found a broker by the name of No1options who operate from London in the UK.
3) In September and October 2015 I invested a total of $5684 . It was my initial intention to invest $100 to gauge the nature of this type of investment.
However a Mr Gianluca Shark and Ms Jenny Jones from No1options contacted me by telephone and were very persuasive to tell me to invest more. A final amount of $3684 was invested on 14 October 2015. Ms Jenny Jones undertook to manage the account for me.
Without any request from me, Mr Shark provided my account with a bonus of $500 and Ms Jones an amount of $4000.
I was aware of these bonus’s being credited to my account but was never telephonically informed that in terms of the terms and conditions, such bonus prevents a withdrawal of my funds unless a multiple of 20 in the total value of the account is traded. Thus trading to the value of $10184 X 20 = $200 368 had to be traded before I could withdraw any of my funds from my account.
No attempt was ever made by No1options to inform me of this in a transparent manner. The phone calls requesting deposits always required me to attend to the deposit post haste. Having invested in excess of $5000 provided my account with “Gold” status.
4) I telephonically asked Ms Jones before making the larger deposit of $3684 if No1options is registered with a UK financial controlling authority to which she replied that they are in the process of becoming registered. This provided me with the confidence that I was dealing with a trustworthy company in the UK.
5) Ms Jones attempted to make me invest a further $1000 and subsequently after Ms Jones had apparently left No1options at some time shortly after 17 November 2015, another broker also phoned and requested me to invest a further $1000. I did not proceed with either of these investments. The account subsequently made a loss of approximately $2800 by the end of 2015 as a result of investments that they had made.
6) I had expected the account to be managed by Ms Jenny Jones upon her undertaking to make the investments in the financial markets on my behalf. She made a long term investment of $1500 on oil with the prediction that its price would increase by year end. This investment failed and so did several other investments made by her. Without informing me, Ms Jones left No1options. It became apparent to me that if I left the management of the account in the hands of No1options it would be managed in an irresponsible manner. I consequently decided to manage the account myself by placing investments on the binary options offered by the platform.
7) On 3 February 2016 I received a phone call from a Mr Jacob Goldstein from No1options offering to allow me to receive my money back provided I made a deposit of $8303 into a new liquid cash account which would be accumulated with my existing account to a sum of $15000. See Exhibit 4.
8) The amount of $15000 could then be repatriated back to South Africa. I became very suspicious of this arrangement and consulted a UK solicitor. He established that No1options is not registered with the FCA. I made telephonic and e-mail inquiries with the FCA to confirm that No1options had not submitted an application for registration. See Exhibit 5.
9) I questioned No1options (Mr Goldstein) further on registration with the FCA to which he replied that No1options was in the process of becoming registered and that the process was at the first stage of 3 and would take another 2 years to complete. See Exhibits 5 and 6.
10) I then prepared an agreement which is attached as Exhibit 7 which Mr Jim Adams signed on 18 February 2016.
11) I discussed the matter of sending the additional money to No1options with my bank who advised that the agreement was no guarantee that the OCBC Bank in Singapore where No1options banked (see Exhibit 8), would necessarily honour the signed agreement unless a guarantee was obtained from OCBC bank. No1options refused to issue an instruction to OCBC Bank to allow my bank to obtain such a guarantee. See Exhibit 9.
12) I have subsequent to this been telephoned and e-mailed several times by No1options to persuade me to proceed with the terms of the agreement. I have repeatedly informed them that I do not have liquid funds available. I cannot afford to loan money from my bank without a guarantee that I will receive this money back.
13) Mr Goldstein has now threatened to debit my account each month by $500 until I make the required deposit of $8303. The first $500 was taken off my account on 23 February 2016 and the second on 1 March 2016. See Exhibits 10 and 11. In the terms and conditions of No1options there is no condition that makes any reference to charging an account that has underperformed or which is inactive. The account was active up to 3 February 2016 when Mr Goldstein phoned me. I do not know either how an amount of $500 is made up, but do now know that despite the No1options website brandishing account security (see Exhibit 12) such security is at the discretion of No1options and the mercy of the client.
14) It has become evident to me that the modus operandi of No1 options is to lure a client into depositing as much capital as possible into their accounts by offering a bonus the finer details of which they do not disclose. They conduct themselves in an extremely persuasive manner always wanting immediate commitment to deposit more.
The offer to allow your investment cash to be withdrawn provided another deposit is made is a con to take more of your money. In this regard please visit https://www.forexpeacearmy.com/public/review/www.no1options.com where it is apparent that a number of people both within and outside the UK have been conned by this false undertaking.
15) a) Under false pretenses No1options has informed me that they are in the process of becoming registered with the FCA. They have used this to lure me into making investment deposits.
b) No1options is now debiting my account by $500 each month without any justification
c) I do not know whether Mr Jacob Goldstein and Mr Jim Adams are possibly fictitious names used to lure me to deposit funds and then to disappear.
d) I have no certainty on the security of my investment. The balance of my account shown on the website may be completely false. I want to know if my money is still securely deposited in a trust account at the OCBC Bank and if not what has happened to my funds.
16) My concern has been submitted to the Financial Conduct Authority who are unable to assist. See Exhibit 5.
The No1options company is a scam. The operatives have accents which are not British. The company has been set up to con the public into investing their capital that is then stolen from them as it can never be recovered. This is a criminal activity which is abusing the integrity of British domain, that must be stopped.
2) I undertook some research on the internet and found a broker by the name of No1options who operate from London in the UK.
3) In September and October 2015 I invested a total of $5684 . It was my initial intention to invest $100 to gauge the nature of this type of investment.
However a Mr Gianluca Shark and Ms Jenny Jones from No1options contacted me by telephone and were very persuasive to tell me to invest more. A final amount of $3684 was invested on 14 October 2015. Ms Jenny Jones undertook to manage the account for me.
Without any request from me, Mr Shark provided my account with a bonus of $500 and Ms Jones an amount of $4000.
I was aware of these bonus’s being credited to my account but was never telephonically informed that in terms of the terms and conditions, such bonus prevents a withdrawal of my funds unless a multiple of 20 in the total value of the account is traded. Thus trading to the value of $10184 X 20 = $200 368 had to be traded before I could withdraw any of my funds from my account.
No attempt was ever made by No1options to inform me of this in a transparent manner. The phone calls requesting deposits always required me to attend to the deposit post haste. Having invested in excess of $5000 provided my account with “Gold” status.
4) I telephonically asked Ms Jones before making the larger deposit of $3684 if No1options is registered with a UK financial controlling authority to which she replied that they are in the process of becoming registered. This provided me with the confidence that I was dealing with a trustworthy company in the UK.
5) Ms Jones attempted to make me invest a further $1000 and subsequently after Ms Jones had apparently left No1options at some time shortly after 17 November 2015, another broker also phoned and requested me to invest a further $1000. I did not proceed with either of these investments. The account subsequently made a loss of approximately $2800 by the end of 2015 as a result of investments that they had made.
6) I had expected the account to be managed by Ms Jenny Jones upon her undertaking to make the investments in the financial markets on my behalf. She made a long term investment of $1500 on oil with the prediction that its price would increase by year end. This investment failed and so did several other investments made by her. Without informing me, Ms Jones left No1options. It became apparent to me that if I left the management of the account in the hands of No1options it would be managed in an irresponsible manner. I consequently decided to manage the account myself by placing investments on the binary options offered by the platform.
7) On 3 February 2016 I received a phone call from a Mr Jacob Goldstein from No1options offering to allow me to receive my money back provided I made a deposit of $8303 into a new liquid cash account which would be accumulated with my existing account to a sum of $15000. See Exhibit 4.
8) The amount of $15000 could then be repatriated back to South Africa. I became very suspicious of this arrangement and consulted a UK solicitor. He established that No1options is not registered with the FCA. I made telephonic and e-mail inquiries with the FCA to confirm that No1options had not submitted an application for registration. See Exhibit 5.
9) I questioned No1options (Mr Goldstein) further on registration with the FCA to which he replied that No1options was in the process of becoming registered and that the process was at the first stage of 3 and would take another 2 years to complete. See Exhibits 5 and 6.
10) I then prepared an agreement which is attached as Exhibit 7 which Mr Jim Adams signed on 18 February 2016.
11) I discussed the matter of sending the additional money to No1options with my bank who advised that the agreement was no guarantee that the OCBC Bank in Singapore where No1options banked (see Exhibit 8), would necessarily honour the signed agreement unless a guarantee was obtained from OCBC bank. No1options refused to issue an instruction to OCBC Bank to allow my bank to obtain such a guarantee. See Exhibit 9.
12) I have subsequent to this been telephoned and e-mailed several times by No1options to persuade me to proceed with the terms of the agreement. I have repeatedly informed them that I do not have liquid funds available. I cannot afford to loan money from my bank without a guarantee that I will receive this money back.
13) Mr Goldstein has now threatened to debit my account each month by $500 until I make the required deposit of $8303. The first $500 was taken off my account on 23 February 2016 and the second on 1 March 2016. See Exhibits 10 and 11. In the terms and conditions of No1options there is no condition that makes any reference to charging an account that has underperformed or which is inactive. The account was active up to 3 February 2016 when Mr Goldstein phoned me. I do not know either how an amount of $500 is made up, but do now know that despite the No1options website brandishing account security (see Exhibit 12) such security is at the discretion of No1options and the mercy of the client.
14) It has become evident to me that the modus operandi of No1 options is to lure a client into depositing as much capital as possible into their accounts by offering a bonus the finer details of which they do not disclose. They conduct themselves in an extremely persuasive manner always wanting immediate commitment to deposit more.
The offer to allow your investment cash to be withdrawn provided another deposit is made is a con to take more of your money. In this regard please visit https://www.forexpeacearmy.com/public/review/www.no1options.com where it is apparent that a number of people both within and outside the UK have been conned by this false undertaking.
15) a) Under false pretenses No1options has informed me that they are in the process of becoming registered with the FCA. They have used this to lure me into making investment deposits.
b) No1options is now debiting my account by $500 each month without any justification
c) I do not know whether Mr Jacob Goldstein and Mr Jim Adams are possibly fictitious names used to lure me to deposit funds and then to disappear.
d) I have no certainty on the security of my investment. The balance of my account shown on the website may be completely false. I want to know if my money is still securely deposited in a trust account at the OCBC Bank and if not what has happened to my funds.
16) My concern has been submitted to the Financial Conduct Authority who are unable to assist. See Exhibit 5.
The No1options company is a scam. The operatives have accents which are not British. The company has been set up to con the public into investing their capital that is then stolen from them as it can never be recovered. This is a criminal activity which is abusing the integrity of British domain, that must be stopped.
