marshall islands

binary option scams

Binary Option Scams

Binary Option Scams 300 200 Adam

On 22nd May 2019 one of our clients will be represented in the High Court in London in a case involving Access Corporate Ltd, a money mule which collected investment money from investors on behalf of binary option scams. One of these companies was operating under the trading name of StratXMarkets.

Binary Option scams were widespread between 2015 to 2018 before financial regulators around the world took action to make this form of trading a regulated activity. Most of the companies offering these trades were scam companies. Many of them claimed to be incorporated in the Marshall Islands although there is no evidence to back up whether any of those companies actually exist. The Marshall Islands is a highly secretive jurisdiction. 

The lack of information on the companies made opening bank accounts difficult which is why many of them used money mules. Money mules are individuals or companies which are prepared to allow their bank accounts to take in investors’ money on behalf of the binary option scam companies. They then pass that money on to the scam companies or to another money mule which is also part of the chain. Money mules are playing a risky game because they are accessories to fraud and can be prosecuted.

We have several of these money mules in our sights and are having some success in tracing them and taking them to task. Investors often believe that once a binary option scam company has disappeared they have no possibility of ever finding them and recovering their money. That is not always the case. They often leave a trail. It is not a quick and easy process to trace these people but in many cases it can be done.

The owner of Access Corporate Ltd, Mr Derrick Williams, is a wealthy individual with a house near London valued at £1.8m and a villa in Spain. It is unclear how he made his money, but we think we know how he made some of it…..   

    Investigating investments is a regulated activity in the UK. We have chosen NOT to be FCA-regulated. As a result, British citizens are not allowed to view our content, use our services or benefit from the regular Scam Alert warnings on our blog page. This restriction only applies to citizens of Great Britain and does not apply to other countries. A lot of scam victims around the world regularly view our website and benefit from the information we provide. We are not required to check who visits the website and we do not record any information on anyone who clicks the "I CONFIRM" button below. 

    Safe Or Scam is prohibited by the Financial Services and Markets Act 2000 (and associated regulations) from allowing individuals ordinarily resident in Great Britain to access our pages or use our services. Therefore, if any one of the following three statements apply to you the FCA prohibition applies.

    1.  I am currently ordinarily resident in the Great Britain; or
    2.  I was ordinarily resident in the Great Britain at the time I made my investment; or
    3.  I made my investment through my company which is incorporated under the laws of England and Wales and Scotland.

    If NONE of the above apply you may proceed to have free access to the website by clicking the "I CONFIRM" button below.

    I CONFIRM

    Our Scam Alert articles are sponsored by a not-for-profit UK company which is permitted to provide services to residents of Great Britain. If you are prohibited from viewing this website because one of the statements above apply to you, but you would like assistance from the UK company, please complete the Contact Form below. Please note: if you meet the requirements to click the "I CONFIRM" button above, you do not need to complete any details below.   






      By Submitting you agree with the SOS Privacy Policy