The Binary Options Scam World
In recent years, hundreds of thousands of customers have invested in binary options and lost a lot of money. According to many expert opinions, binary options are prone to fraud in their applications and hence banned by regulators in many jurisdictions as a form of gambling.
The US FBI estimates that the scammers steal $10 billion annually worldwide and thus is investigating binary options scams throughout the world, and the Israeli police have tied the industry to criminal syndicates.
Many investors have not understood that binary options are a game of chance and not an investment. In addition, very few binary options providers were registered with the relevant financial market supervisory authorities. And last but not least, there has been a lot of fraud and customers have allegedly been cheated out of hundreds of millions of dollars. According to the responsible authorities, dozens of reports of fraudulent investors with a loss of several hundred million dollars have been filed in German-speaking countries alone.
VELTYCO – A European Binary Option Hub
One problem for investors is that the respective providers were and are not available to them. Many providers such as ZOOMTRADER or ZOOMTRADERGLOBAL have often changed their banking operators. At ZOOMTRADERGLOBAL, for example, it was first the NOVOX CAPITAL LTD regulated by the Cypriot banking supervisory authority and today it is the FINEX LTD regulated by the Bulgarian and Lithuanian supervisory authorities. With Option888, operators have changed so often that investors can no longer have an overview.
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Regardless of the frequent change of operators and payment agents, one thing has remained the same since 2016: the listed VELTYCO GROUP PLC, together with its partners and affiliated companies such as ALTAIR ENTERTAINMENT N.V., has acquired customers and done the marketing. Hence, VELTYCO acted as a sales agent for binary options and their operators.
And something else remained constant. VELTYCO partner TRADOLOGIC has made the software platform available as a white label solution. Here is a table showing the operators of binary options in the VELTYCO network:
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Actually, companies and brands in the VELTYCO network received warnings as well as cease and desist orders from regulators around the globe. It’s nearly unbelievable that VELTYCO‘s auditors have not mentioned that fact in their audit of the 2017 statements.
Based on the analysis we did together with international binary options experts, lawyers, and auditors we believe that VELTYCO could actually become a reference case for investors protection in the European binary options environment. Contrary to many anonymous operators located in offshore locations, VELTYCO is a public listed company in London, UK. Furthermore, other companies in the VELTYCO network such as NOVOX CAPITAL LTD or FINEX LTD are also regulated by EU regulators which makes it easier for investors to address their claims.
Funds Recovery Support Campaign
Together with leading law firms, authorities, regulators, investigative journalists familiar with binary options, and the experienced partner WEALTH RECOVERY INTERNATIONAL, we want to support investors in asserting their claims. This includes
- comprehensive information about the background of the operators
- support for investors claims in close cooperation with law firms, and WEALTH RECOVERY INTERNATIONAL.
Investors can register their claims and/or request information using the form below.
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