Beating Forex and Binary Options Fraudsters

Financial fraud in general is expanding at a great rate with forex and binary options frauds in particular gaining ground globally.  Many hundreds of people around the world are targeted each day.  Frequently they are novice investors who are unfamiliar with the markets and do not recognise that the so called trading platform and its way of working is bogus.  Eventually when the fraudsters finally decide that there is no more money to be had from an individual and they cut all contact, the hapless investor begins to suspect that they have been scammed. 

Frequently the target of such a scam reacts by trying to find out if they can trace the owners of the company and see if there is someone who can be held accountable.  Often this leads to the discovery of myriad inter-connected limited liability companies, often some are registered in different countries, with some dormant and some active.  It is hardly surprising if the complexity of the situation results in a failure to discover a single person who can be challenged and held accountable.  Whilst an individual may be alarmed and confused at the prospect of navigating through the convoluted structures that have been deliberately set up to confuse, Giambrone’s lawyers are very familiar with the fraudsters strategies and frequently can steer a course to the people responsible without too much difficulty.

The next step taken by the victim is often an appeal to a regulatory body, only to find that forex and binary options scams fall outside the remit of their responsibilities.  In general the lawyers at Giambrone find that there are varying degrees of willingness by both regulatory bodies themselves and governments to act to address issues that arise resulting from detrimental activities that were either overlooked or have developed since the regulatory body was set up.

The step of last resort, legal action, is understandably daunting for a person who often has lost significant amounts of money to the fraudulent brokers.  Giambrone fully recognises that such a situation will leave the victim decidedly risk adverse.  In order to off-set the risk Giambrone has developed links with litigation funding organisations in respect of class actions and will, in some circumstances, work on a contingency fee basis (no win no fee) for individual cases.     

Giambrone has a track record of recovery in relation to financial fraud, with many strategies and tactics to compel the fraudulent broker to restore funds to their former clients.

For further information about how you can recover your funds from a fraudulent brokers please contact clientservices@giambronelaw.com or telephone 020 7183 9482