Banc de Binary Oren Laurent, Lauren O' Connor, Oren Laurent Fraudulent Representation, Will Not Return My Money Cyprus

THESE GUYS ARE INTERNATIONAL THIEVES! REGARDLESS OF THE COUNTRY YOU ARE IN. DO NOT TRADE WITH THEM!

This is how I was ripped off over $60,000 USD by  Banc de Binary:

-          On 27-November-2012 I made a deposit to my trading account in the amount of $5,000.00. I had asked to be able to “paper trade” an account but was told that I had to make this deposit to follow their so called trade experts.

-          I was repeatedly badgered to make a $15,000 dollar addition to my account as “this was the account minimum that this broker worked with”. I gave in and made another $6,000.00 deposit from my B or A card and the balance from another Visa card that I have on 5-December-2012.

-          I was then told if I wanted to really generate income, I would need to add another $30,000.00 to my account to be a “VIP” client. I then made additional deposits on 4-January-2013 and then twice on 11-January-2013 on in the amount of $10,000.00 each.

All throughout the time that I was being asked to make these additional deposits, Banc de Binary was being investigated by the SEC and CFTC in the US for opening illegal (by US law) trade accounts

-          Banc de Binary early on portrayed that they were a company on Wall Steet in New York. Here is a copy and paste of the bottom of an email that they sent to me:

George Papas

Senior Broker and Analyst

Banc De Binary

40 Wall Street

New York, NY

10005, USA

-          Later it was found that the above address was simply ruse to make clients think they were on Wall Street and a legitimate company when in fact it looks as though it was what is known as “virtual office”. The person above even said to me on a Skype instant message that he had survived Hurricane Sandy. I do not believe he was even in New York when the storm hit! In another instance the broker portrayed to me that he was in the US told another client (from France that I have corresponded with) that they are in Cyprus and the UK but would not say they were in the US.

The following is an explanation of what Banc de Binary does and what is accused of doing to US citizens from an article posted on June 6, 2013. (http://www.cftc.gov/PressRoom/PressReleases/pr6602-13 ) 

Specifically, from May 2011 through March 2013, Banc de Binary operated an online trading website which allowed U.S. customers to trade options products prohibited by the Commodity Futures Trading Commission’s (CFTC’s) ban on off-exchange options trading. Through its website, Banc de Binary allegedly unlawfully solicited and permitted U.S. customers to buy and sell options betting on the prices of wheat, oil, platinum, sugar, coffee, corn, foreign currency pairs, and stock indices.

The CFTC’s complaint also charges Banc de Binary with operating as an unregistered Futures Commission Merchant (FCM) from July 2011 through March 2013. Finally, the complaint alleges the company did not limit its options offerings to eligible contract participants, allowing U.S. customers to trade without requiring any information about their trading history or net worth.

In light of what Banc de Binary has done, it is my assertion that if I had gains or losses with their firm, it would not matter, as it would be illegal by US law for me to receive any gains back from them other than my invested capital. They do not see it that way of course and have refused to return my trade capital to me.