• Report: #1008501

Complaint Review: Cedar Finance/T.B.S.F.

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  • Submitted: Mon, February 04, 2013
  • Updated: Fri, March 08, 2013

  • Reported By: 05610ctd — Other United States of America
Cedar Finance/T.B.S.F.
26, Chytron Street Office number 21,1075 Nicosia.C Internet United States of America

Cedar Finance/T.B.S.F. Best strategy Finance Ltd. Cedar Finance is owned by T.B.S.F Best Strategy Finance Ltd., legal entity established in the Republic of Cyprus with registration No. HE 279560, Cyprus Internet

*Consumer Comment: They Paid Me But Only After Closing My Account

*Consumer Comment: What is the truth about this company?

*UPDATE Employee: Cedar Finance's Registration

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This is a Live chat with Cedar Finance

Please wait for a site operator to respond.
You are now chatting with 'adrian.zorn'

adrian.zorn: Hello, how may I assist you?

Me: I see you have a registered # of HE279560, who is that
registered with?

adrian.zorn: I'm sorry, but I don't understand - could you please
explain?
adrian.zorn: Hello, how may I assist you?

Me: 2. Online Services Agreement This Agreement is made by and
between Cedar Finance and you. Cedar Finance is owned by T.B.S.F Best
Strategy Finance Ltd., legal entity established in the Republic of
Cyprus with registration No. HE 279560, with the main office in
Cyprus, 26, Chytron Street Office number 21, 1075 Nicosia.

adrian.zorn: Yes, and what is your question?

Me: This states that you are registered, with who?
adrian.zorn: As far as I know, Sir, each entity has their own
registration number, and that number is our company's simply.

Me: When I look up this information with the republic of Cyprus
web site there is no business registered?

adrian.zorn: what website are you checking, Sir?

Me: ccci.org.cy

adrian.zorn: thank you

adrian.zorn: as far as I can see, that is just a private corporate
body of businessmen, and Cedar Finance does not need to be a member
of any such body.

Me: I realize that, but you still haven't answered the question,
who are are you registered with? It states that T.B.S.F. is
registered with the republic of Cyprus, Where at?

Me: what does the "registration HE279560" mean?
adrian.zorn: I don't understand, Sir. The company's HQ is in
Nicosia, Cyprus.

adrian.zorn: and that is, I presume, the company's registration
number.

Me: But there is nothig for the Republic of Cyprus that lists
T.B.S.F or Cedar finance as a registered business?

adrian.zorn: Just a moment, Sir

adrian.zorn: I have written to my Manager for information

Me: OK
Me: you can also try "Cyprus-government.com"

adrian.zorn: that is not a government website, I'm afraid

Me: CyprusGovernment.com provides links and resources of the
Republic of Cyprus, including the Cyprus Parliament, Cyprus
Ministries, departments, semi-government authorities, municipalities,
village's websites, Political Parties and government related
organizations. I think it is.

adrian.zorn: No.

adrian.zorn: That just somebody made a page with the word
'government' in it - doesn't mean anything.

adrian.zorn: it's a '.com' website

adrian.zorn: made only for profit

adrian.zorn: form ads

adrian.zorn: as you can see.

adrian.zorn: As far as I know, you would have to contact Cypriot
government to obtain any documentation

adrian.zorn: Our documentation is on our website

Me: What about the "Ministry of Finance" would they
have any information about your registration number?

adrian.zorn: perhaps the ministry of commerce, but do try to
contact them

Me: The problem is you want me to send money to a place I've
never been and to a business that doesn't exist. Further more there
is no information to support what your claiming. Just ask your self,
would you send me $200, if you would I would gladly invest it with
Cedar Finance or T.B.S.F

adrian.zorn: Sir, you are free to contact Cypriot government

adrian.zorn: the company is registered there and we have a
headquarters there

adrian.zorn: People have been working here for years

adrian.zorn: www.cyprus-data.com

Me: If you could provide realistic information about this
business I wouldn't need to. I don't see how Money can be transfered
to the U.S. If all the Banks here block the transfer and won't accept
funds from Cyprus?

adrian.zorn: I just did.

adrian.zorn: Sometimes the banks block, but all it takes is a
phone call and they unblock it. Clients have these situations
sometimes, since it's an overseas bank

adrian.zorn: and that doesn't cause a problem in the long run

adrian.zorn: The other problem is that a lot of Clients don't read
the Terms of Service, and are unaware of our policies, and sometimes
blame us if they can't withdraw - when it's their fault. But I know
you won't have that trouble since you read everything, which is
great.
Me: NOTE: Cyprus-Data.com is a private entity and not a
governmental agency or department. It is neither affiliated, nor
representing or related in any manner to the 'Cyprus Republic
Department of Registrar of Companies and Official Receiver'. As a
result, we can only provide support for the services we clearly state
on our website, and we cannot offer any other assistance or guidance.
This is a web site strictly for profit

adrian.zorn: Good job, Sir, I did the exact same thing as you did
before.
adrian.zorn: Which means you need to contact Cypriot officials

Me: Yeah but the information I was looking at was free, no money
involved and had direct links to Government web sites, does this one
do the same or do they charge you money for free information?

adrian.zorn: I do not know Cypriot law, Sir - and I certainly
cannot decide who gives away what information and where, I am truly
sorry.

adrian.zorn: I am ending my shift now, Sir. Someone will take over
the live chat shortly, feel free to contact us!
Chat session has ended.

You are not currently in a chat session.
You are not currently in a chat session.

Keep your Money people, Do your home work, there is nothing legit about this company.


This report was posted on Ripoff Report on 02/04/2013 08:55 AM and is a permanent record located here: http://www.ripoffreport.com/r/Cedar-FinanceTBSF/internet/Cedar-FinanceTBSF-Best-strategy-Finance-Ltd-Cedar-Finance-is-owned-by-TBSF-Best-S-1008501. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 3Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

They Paid Me But Only After Closing My Account

AUTHOR: Aaron Siegel - ()

They have a section in their terms and conditions as to which they used to close my account. Basically in section 10 of the Cedar Finance Terms and Conditions it states vaugly that if you in any way shapr or form cause them to lose money, they can close your accoun and sieze you assets. When you win trades, they lose money, so obviously this will not be your best bet for a binary broker.

I was lucky enough to read other customer reviews on other sites to see how they operate one of their scams which is to accuse you of fraud than seize all asssets and close your accounts. I fought back kowing their intentions based off of the other experiences and got my ROI returned to me, but I wouldn't chance it.

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#2 Consumer Comment

What is the truth about this company?

AUTHOR: Nypride - ()

I was ready to sign up with this company (Cedar Finance) and deposit money with them until my bubble was Nureyev by reading the negative report about them. I am still a little confused though. Does this company actually payout to the investors from the USA as I am from? Or do they have some sort of loophole in their "terms" that state otherwise. Until I hear and see that this company is legit and they do payout 100% of the time, I will stay away from scams like this. If this company can show me reasons, then I will deposit monies with them. Thank god we have the Internet to help the people like us to see who is who.
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#3 UPDATE Employee

Cedar Finance's Registration

AUTHOR: Cedar Finance Support Centre - (United States of America)

I would like to react to a false accusation regarding Cedar Finance.

As mentioned on www.cedarfinance.com, the company is owned by T.B.S.F. Best Strategy Finance Ltd., legal entity established in the Republic of Cyprus with registration No. HE 279560, with its registered office in Nicosia, 1 Avlonos Street.

Please find a link to the Cypriot Governmental Registration Office proving the company was indeed registered under the number HE 279560 on 31st of December 2010.

https://efiling.drcor.mcit.gov.cy/DrcorPublic/SearchResults.aspx?name=t.b.s.f.&number=%25&searchtype=optEndMatch&index=1&lang=EN&tname=%25&sc=0

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