Report: #1037389

Complaint Review: VIP Binary

  • Submitted: Sat, March 23, 2013
  • Updated: Sat, March 23, 2013
  • Reported By: Criss — Lilburn Georgia
  • VIP Binary

    United States of America

VIP Binary Adam Rivera Internet Scam Fraud by deception and misrepresentation Internet

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In March 2012 I received an offer on the Internet with a video explaning how you could make $10,000 per month working less than 1-2 hours a day. VIP Binary Options was listed as one of the companies with contact information. When I went to their site it looked very ligitimate with stocks, commodities, forex pairs, and indices that could be traded from $10.00 to $3,000 with a payback of 171% or a loss of 96%. Options could be puts or calls and time could be 60 seconds to several hours or 15 minute units. A representative came on line and said if I would invest a minimum of $1,000 they would match it with $1,000 dollars. Than once a week a week Adam Rivera would call and provide trades to invest in and tell me when they were going up or down. The first few trades were winning aout 80% of the time. I was encouraged to become a gold member with $5,000 invested and they would match with $5,000 dollars.

I asked Adam who's money were we investing on the trades ? He told me that we would company money first until I learned the system and my money would be safe. This was a lie.

By June I had invested $5.000 with a $5,000 match. Recommendations had dropped to less than 50% accuracy So in June I was encouaged to make a secured trade up to $3.000 on one trade and would win either way the stock went. A manager later called and verified that as a Gold member I could make such a trade and even if I lost I could draw the $3,000 back to pay my credit card. So I made the trade and lost and than was told that the trade was not secured and I lost my money. After several calls I was contacted by a different representative who said Adam had been fired and he was taking over my account. He had the $3,000 added to my account. He had me make 4 trades and only 1 made money. When I tried to withdraw funds to pay down my credit cards each withdrawl was denied. When I complained I was told that my money had to be invested 80 times before it could be withdrawn.

I have made over 150 trades and still can not withdraw any of my money. I have a balance of over $9,650. when I quit trading for a while and now the site no longer comes up and e-mail does not work.

I was called in January by Adam Rivera and I asked him where he was calling from and he said the UK. There is now a working out of England which I suspect is the same company with some of the same players but can not verify this.

A class action suit should be brought against companies like this. I have made a report to the SEC and FBI with no success.

Criss Lilburn, Ga
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This report was posted on Ripoff Report on 03/23/2013 12:48 PM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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