Report: #1290019

Complaint Review: SpotFN Ltd DBA spotfn.com and binaryacademics.com - London Other

  • Submitted:
  • Updated:
  • Reported By: onestory151 — Phoenix Arizona USA
  • SpotFN Ltd DBA spotfn.com and binaryacademics.com 25 Old Brtoad Street 6th Floor London, Other United Kingdom


Show customers why they should trust your business over your competitors...

Is this
Report about YOU
listed on other sites?
Those sites steal
Ripoff Report's
We can get those
removed for you!
Find out more here.
How to fix
Ripoff Report
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..
Dear Sirs/Madames,
I am writing in reference to a company incorporated in  
the UK as Spot FN Ltd also doing business as Binary  
Academics in New York as well as Asset Signals in New  
York in the United States though at the time the latter  
two were represented as being seperate concerns a  
complete misrepresentation to keep the client on board  
and investing increasiing sums of money all of which it  
was their intention to abscound with from the  
Spot FN Ltd was dissolved in Aug/Sept 2015, it's director was William Marthinus De Beer and it's CEO James Kingsley although I believe Mr. De Beer is the priniciple concern as he chairs some 200 such companies and has been seen on ripoff sites to have defrauded a great many people thru the years in preciseely the manner in which I have been defrauded, a good many of these companies are since dissolved however a good many are still active which causes me to believe this item may be actionable as he obviously is of some considerable means not to mention a former employee has started a web site telling on this company and it's officers revealing that it is and was a total scam taking in some $700,000.00 per month prior to it being suddenly dissolved overnight last year.
The former employees web site is here https://spotfnscam.wordpress.com/ SpotFN did busiiness as spotfn.com a Binary Options traders the site which much to my chagrin was shut down I am just now finding out back in Aug/Sept of last year. There came a time when I just ignored the investment not able to get service from any of it's staff. Occasionally I would log on to see my money still sitting in the account.
I began with them in March of 2014 by placing $1000.00 on my American Express Card which now I am going to try and chargeback, about a month later when things were not goiing all that well with the initial investment they began to pitch me on Binary Academics a firm out of New York they represented as being seperate from themselves which then I suspected by familiar voices on the phone and have since confirmed was actually their company as well, in other words different phone lines in the same call center.
In April of 2014 being told that I would make $10,000.00 per month on my investment I reluctantly wired $10,000.00 from my Chase account to a Bank of America Account in New York in the name of Alexander Greco representing of course Binary Academics which paperwork I still have. Immediately the account took off and inside of one month I had twenty five thousand dollars in my account a substantial profit on 10K and of course I was pleased for who wouldn't be if not the unsuspecting though still apprehensive.
It was then SpotFN called me and asked me to invest another 10K and being suspicious I declined to do so saying I wanted to season the account before risking any more money a good choice in retrospect. Having refused to do so it was immediate that they sought retribution by performing trades on my account far exceeding the boundaries we had agreed upon and inside of two weeks they had lost 14K such that all that remained in my account was my original 11K investment.
I wrote and complaiined for obvious reasons that the gentlemen managing my account Austin Wilson and Patrick Star were behaviing irresponsibly with the funds, although I believe it unrelated to the complaint it was then that the account was frozen and all trading on it ceased leaving the original investment just sitting there for many months to come, I now know by looking at Mr. De Beer's history and other business dealings that he freezes the account because he knows that within a year of so he intends to dissolve the corportation, shut down the web site and abscound with the funds as this I learned with very little Google research was and is not his first rodeo.
The bottom line is monsieurs De Beer and Kingsley shut down the site and absounded albeit embezzled the funds no doubt in part in connection with a State Of Missouri court order to cease and desist doing business which I well imagine was the beginning of woes and the tale tale sign that they were at the end of the road, Mr. De Beer I see on the UK gov site was written off as director in January of 2015 and the corporation was dissolved by one supposes James Kingsley in Aug/Sept of 2015 all very methodical and I have no doubt premeditated as it quickly becomes obvious with very little research online that this something they do on a regular basis to what I suspect is an inordinate degree. Still it seems actionble to me as these men are engaged with other concerns and no not a few, they seem accessible with a fair amount of exposure and allegedly they had SpotFN insured by Allianz I learned on one ripoff report site as he had referred clients there just last year though I am only just learning of this closure and my money being abscounded with which seemingly was the end of all recourse until I began to dig renewing some modicum of hope that perhaps I could seek counsel to help me.
Link to State of Missouri Case to cease and desist https://www.sos.mo.gov/cmsimages/securities/orders/ AP-15-12.pdf
I"ll make no bones I am clearly not a man of means, I am disabled, I am on a fixed income and my 11K investment was more than half than what I had won in a Good Guys sweepstakes that year that for the first time in my life I wanted some small investment with which to augment my extremely modest income.
Obviously then the only way I might pursue this is on a no win no fee basis and upon reflection I think it quite reasonable to seek $50,000.00 in damages minimally due to what I was lied to and told about that brining in 10K a month and based on what the account brought in that first month that they sought retribution and stole returning to themselves which then they froze the account knowing full well in a matter of a year or so they would shut the site down and abscound with the embezzled funds.
If this is not possible then please explain how y0u might be of service and what that would entail, any referrals or course of action albeit direction are also greatly appreciated as everything is not necessarily a fit for either of us, the truth is I just want my investment back and to take the least path of resistance and expense.
I humbly request that you attempt to place me with a no win no fee law firm that might help me pursue this, I don't think it at all unreasonable based on the facts and the egregious nature of the fraud.
Terry Story seeker7477@gmail.com

This report was posted on Ripoff Report on 02/25/2016 03:22 PM and is a permanent record located here: https://www.ripoffreport.com/reports/spotfn-ltd-dba-spotfncom-and-binaryacademicscom/london-other-ec2n-1hn/spotfn-ltd-dba-spotfncom-and-binaryacademicscom-binary-academicsasset-signals-spotfnco-1290019. 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

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?

Advertisers above have met our
strict standards for business conduct.

What do hackers,
questionable attorneys and
fake court orders have in common?
...Dishonest Reputation Management Investigates Reputation Repair
Free speech rights compromised

Segment Now