Banc De Binary was an Israeli financial firm in the Binary Options market with a history of questionable regulatory issues. In January 2017 the Bank was forced out of business and was closed down. The firm surrendered its brokerage license with the Cyprus Securities and Exchange Commission (CySEC) removing its ability to legally trade in the European Union. Its 2014 revenues were reported as $100 million.
There are about 300 victims which were scammed. The clients had managed accounts and the handling of it was so bad, that the funds in most cases were lost. The Account Managers (who operated with fake names) asked again for new investigations by providing a “Recovery Plan”. The funds of the Recovery plan was also lost.
A litigation against Banc de Binary and all parties involved with the Banc de Binary fraudulent venture is now started. About 300 victims were interviewed about how the Account Managers tricked the clients to get huge amounts. Additionally Investigators have gained an in-depth knowledge of the way how the owner of Banc de Binary conducted and operated their businesses.
Scammed investors often believe that they are alone in having fallen for the scam. The tide is turning thanks to the persistence of crusading law firms exposing the practices of fraudulent brokers. If you need help and would like to know more about how you can recover the money lost with Banc de Binary or other Binary Option firms please send an email to email@example.com.