Class action against AlgoBanque
Giambrone's Financial Services Litigation team is now working in conjunction with the Swiss Financial Market Supervisory Authority to expose AlgoBanque which falsely claimed to have an office in Switzerland on its website.
FINMA, the Swiss financial regulator, has recently exposed the fraudulent claims of AlgoBanque which claimed to have an office in Geneva (Switzerland)
AlgoBanque was a forex broker established in 2014 that operated under a company called Yamix Marketing UK LTD and which offered all the classic trading products for customers including currency pair, Spot Oil, Spot Metal, and CFD. Its website falsely asserted that it was based in Geneva, when in reality its roots are most likely off shore.
Our clients, the majority of which are based in Italy and the U.K., have confirmed that all investments were sent to offshore bank accounts outside of Switzerland. Giambrone will now issue legal proceedings against Yamix Marketing Ltd and its directors on behalf of all investors who have been affected by this company and have lost significant amount of money through such unregulated broker.
"It is not the first time that fraudulent internet brokers have been systemically abusing the vulnerability of trustworthy clients - says Vito Anello, Associate in the Financial Services Litigation team - These brokers usually solicit clients to deposit into different types of forex and binary options accounts setups"
AlgoBanque, whose website has now been taken offline after several complaints to law enforcement agencies by our firm, also falsely stated that it had a “European Branch Office” in London, but as often is the case, it hasn’t been registered nor authorized to provide financial services within the European Union.
The company claimed on its website to provide algorithmic trading solutions to its customers, with guaranteed returns amounting to 35% on an annual basis.
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.