Giambrone holds imminent plans to launch a class action against CITrades, having received numerous reports from defrauded investors. CITrades is believed to have operated a detrimental Ponzi scheme resulting in the loss of all funds for all the investors.
CITrades is an Anguilla based web oriented portal for binary broker options, luring investors under the promise of 70% profits along with several other enticing promises and offers. CITrades is believed to have acquired a previously owned trading platform, which moved to Anguilla for tax-related reasons. Speculation suggests that CITrades, launched in 2012, is an off-shore company owned by Jason Scharf. Upon subscription, clients are promised guidance and support, which is virtually limited to depositing money procedures. Investors found that once an initial deposit was made, usually ranging from $250 to $50,000, depending on the kind of account set, the investor found it virtually impossible to withdraw profits with some witnessing their entire initial investment.
Although CITrades is believed to routinely change their banking details in order to make it more difficult to trace the money-flow, Giambrone managed to trace back the main bank CITrades resorts to, IBank (located in Bulgaria).
Vito Anello, an associate within Giambrone’s financial services, forex & binary options litigation team commented: “at Giambrone it is our primary concern to help customer retrieve their lost investments. Giambrone’s proximity to the regulating bodies and institutions in a variety of countries involved in financial scams and its extensive experience in this field allows the team to construct the best possible strategy to retrieve lost investments and ultimately bring all responsible to justice”.
Giambrone is one of the most experienced law firms in the UK in respect of its representation of hundreds of victims of financial scams, particularly in the field of Forex, binary options and multi-level marketing. With a specialised team of more than 15 experts located in Milan, Rome, Palermo, London, Munich, New York, Sassari and Barcelona, Giambrone has achieved several successes including the recovery of more than $1,500,000 against the American company TIRN and the recent claim of more than 1,850 investors from different nationalities in the proceedings before the Court of Massachusetts against the Telexfree group. Additionally, Giambrone has just mounted a class action against Banc de Binary, a global binary options trader.
If you have invested with CITrades and wish to retrieve your lost investment, please fill the form below. One of our lawyers will contact you and guide you through the steps necessary to retrieve the loss you have suffered.
Giambrone will continue to fight vigorously for your protection and to ensure the wrongdoers are held accountable.
If you have found yourself victim AlgoBanque, give us a call and we will talk you through the options and help you start the slow process of recovering your assets. Alternatively, please contact our Client Relations Team to arrange a discussion with a lawyer in the Binary Options Litigation team. Our international lawyers are able to provide assistance in English, French, Spanish, German, Arabic and Chinese.