Banc De Binary Case Study

Improved Essays
Show More
BANC DE BINARY SCANDAL: FILE A CIVIL CLAIM NOW!
Banc de Binary, one of the biggest global providers of online trading in binary options renounced its authorisation Furthermore, the company was a sponsor of Liverpool FC offering to the club £1.5 million. The company provided its services via the domain eu.bancdebinary.com. Basically, the public could create an online account and trade binary options through the aforementioned website.
The Israeli-owned and Cyprus registered company is accused of urging ordinary people to make high risk investments without assuring if they are able to assess the potential risks. The headquarters of the company is in Germasoyia, Limassol. In the beginning, the company was operating in the Republic of Cyprus without …show more content…
Moreover, there is no disclaimer on the website eu.bancdebinary.com. According to the Cyprus and foreign press, the target-group of the company were vulnerable investors who could not evaluate the risk of binary options trading. Specifically, Banc de Binary is accused of allowing investors to make high risk transactions, thereby losing their money.
Binary options trading involves betting on whether individual shares, indexes, currencies or other securities will go up or down in a specific period of time. However, the time for the option to ‘’mature’’ is more or less one minute. Many individuals have filed a complaint against Banc de Binary, claiming that after setting up an account on the website eu.bancdebinary.com an advisor from Banc de Binary called them and told them that s/he can help them to increase their profits. It is obvious that there is a clear conflict of …show more content…
In other words, the company is obliged to settle its obligations towards the people to whom it provided its services. However, an individual defrauded by Banc de Binary cannot get his/her money or other assets back without filing a civil claim in Cyprus. In this point, it should be clarified that you will not get your money back without filing a civil claim. Therefore, a professional legal support is

Related Documents

  • Great Essays

    Sucha Partners Case
    • 1171 Words
    • 5 Pages

    Sucha Partners Case

    Memorandum 1: On Advice to Sucha Tees: Standing and Probability of Success in Suit against BVD Partners, Bertie, TMI, and Vinnie (1) Sucha Tees v. BVD Partners, 2) Sucha Tees v. Bertie, 3) Sucha Tees v. TMI, 4) Sucha Tees v. Vinnie) I. Issue and Relevant Questions Sucha Tees seeks payment for $1000 spent on their custom t-shirts? Do all four defendants—Vinnie Pacciotto, Bertie Vastar, TMI, and BVD Partners—all assume liability for the payment? If so, how will payment be divided?…

    • 1171 Words
    • 5 Pages
    Great Essays
    Read More
  • Improved Essays

    The Assassination Of Martha Stewart And Peter Bacanovic
    • 426 Words
    • 2 Pages

    The Assassination Of Martha Stewart And Peter Bacanovic

    From the case, we know that the Imclone company was almost destroyed due to the conspiracy of Martha Stewart and Peter Bacanovic. The fact is that, in 2001, 28th 0f December, SEC rejected the approval of a kind of medicine. However, before this big day, CEO and her stockbroker sold their stock, making the share price plunged. Thus, Martha Stewart and Peter Bacanovic were convicted of conspiracy, making false statement and interfere with a public function. At the same time, Lawrence Stewart, an expert witness, committed perjury in his testimony.…

    • 426 Words
    • 2 Pages
    Improved Essays
    Read More
  • Great Essays

    Talisman Energy Case Summary
    • 1443 Words
    • 6 Pages

    Talisman Energy Case Summary

    Executive Summary Talisman Energy Inc. is an upstream oil and gas company located in Canada. Talisman purchased Arakis Energy in 1998 having the largest asset and a stake in GNPOC. After entering Sudan Talisman’s political and economic situation became insecure. They were accused for being part of and helping the Sudan Government with the civil war. They were also being blamed by the human rights commission in Sudan of providing of weapons; which ultimately led Talisman to sell their assets in Sudan.…

    • 1443 Words
    • 6 Pages
    Great Essays
    Read More
  • Improved Essays

    Trop Nosh Case
    • 706 Words
    • 3 Pages

    Trop Nosh Case

    If the consumer guarantees provided by the Australian Consumer Law are not met, the consumers are at liberty to be indemnified and provided with remedies. The remedies may be claimed either against the supplier or manufacturers (Smith and Burke, 2007). With respect to the fact that the goods are required to be of acceptable quality the following factors must be taken into consideration; • The goods must not be defective quality; they are required to be safe as well as long-lasting. • The appearance of the goods must be such that they are acceptable to the consumers. •…

    • 706 Words
    • 3 Pages
    Improved Essays
    Read More
  • Improved Essays

    Amicus Therapeutic Summary
    • 1939 Words
    • 8 Pages

    Amicus Therapeutic Summary

    Following last week’s theme, I will be discussing two smaller companies that just released positive Phase III results on their lead candidates. Amicus Therapeutics (FOLD), currently down to $7.98 a share from its 52 week high of $18.83, went up 12% premarket Tuesday after releasing encouraging data on migalastat in Fabry disease. Members of the Amicus team delivered an oral explanation on migalastat to the European Union’s (EU) Committee for Medicinal Products for Human Use (CHMP) in February, and they expect to receive an opinion on the drug at the next CHMP meeting (March 29 - April 1, 2016). They also expect to meet with the FDA in Q2 to present data and discuss a potential pathway to submit a New Drug Application (NDA) for migalastat in…

    • 1939 Words
    • 8 Pages
    Improved Essays
    Read More
  • Improved Essays

    London Advertisement Analysis
    • 1059 Words
    • 5 Pages

    London Advertisement Analysis

    This 2016 print advertisement from the London based financial information company taps into the need of people for leisure and calls them to thoughtful action about investments through pathos, logos and irony. The at first glance simple arrangement of a sentence fragment and clock parts creates a competition between money and time to entice adult readers new to the investment world to use the company for financial advice; cultured and expected responses are used in a negative light to engender trust and curiosity about the service. Why did this company invoke a competition between money and time to lure its audience? The ad speaks to resilient cultural constructions, keenly known to new adults, of a good life as consisting of two discrete and paradoxical categories, at once opposed and unified; the money made and time spent making it; and of all relations between the two as an inherent psychological battle for dominance in the observer’s brain. The ad employs a visually competitive framework when not folded out to indirectly prime the reader’s mind to address these underlying tensions.…

    • 1059 Words
    • 5 Pages
    Improved Essays
    Read More
  • Decent Essays

    Wells Fargo Bank: Manipulating Financial Reporting
    • 99 Words
    • 1 Pages

    Wells Fargo Bank: Manipulating Financial Reporting

    Wells Fargo Bank has been manipulating the financial reporting and data since 2013. This behavior led the bank to pay $185 million in penalties. Further, the Government agencies are trying to protect the consumers as much as they can. In fact, financial statements, ratio analysis, and financial reporting present some strengths and limitations. Consequently, to protect themselves against corporate frauds, investors must diversify their portfolios with foreign issuers.…

    • 99 Words
    • 1 Pages
    Decent Essays
    Read More
  • Improved Essays

    Fan Duel
    • 816 Words
    • 4 Pages

    Fan Duel

    Write a one paragraph summary of the article This article discusses the advent of daily fantasy sports websites, like Draft Kings and Fan Duel, and why these websites are legal, but the direct betting on sports is illegal. These websites have values of over one billion dollars and are currently completely legal. They operate similarly to casinos; big payouts for little investment. Althought these websites have generated a lot of winners, they have generated far more losers; again, this pattern looks similar to what is seen in Las Vegas casinos.…

    • 816 Words
    • 4 Pages
    Improved Essays
    Read More
  • Superior Essays

    Bernie Madoff Case: The Full Disclosure Accounting Principles
    • 1325 Words
    • 6 Pages

    Bernie Madoff Case: The Full Disclosure Accounting Principles

    He stated, “The fact that they didn 't catch the fraud leads me to believe that they blew it” (Stewart).The auditors of these funds should have somehow at least tested or dug deeper into the material provided to them to discover whether or not the underlying assets were…

    • 1325 Words
    • 6 Pages
    Superior Essays
    Read More
  • Improved Essays

    Bre-X History
    • 872 Words
    • 4 Pages

    Bre-X History

    Bre-X was a major corporation in Canada and was known for mining minerals, metals and gold. Bre-X Minerals Ltd. was a major part of Bre-X Corporation based in Calgary, Alberta. It was found by David Walsh in 1988 and made it the subsidiary of Bre-X. A year later after Walsh found the subsidiary company, Bre-X went public on the Alberta Stock Exchange (ASE) at 30¢ per share. In 1993, Walsh contacted John Felderhof, a Canadian explorer and geologist, to help purchase the rights to some property in Indonesia. Felderhof was known for his involvement in the discovering of enormous copper and gold mine in Papua New Guinea.…

    • 872 Words
    • 4 Pages
    Improved Essays
    Read More
  • Decent Essays

    Analysis Of Jeffry Schneider's Journey To Success As An Entrepreneur
    • 1026 Words
    • 5 Pages

    Analysis Of Jeffry Schneider's Journey To Success As An Entrepreneur

    Jeffry Schneider’s Journey to Success as an Entrepreneur Jeffry Schneider is the founder and CEO of Ascendant Capital with over 25 years of extensive experience in the field of alternative investment. He graduated from the University of Massachusetts Amherst with a degree in Bachelor of Arts. He started his career with Alex Brown in New York City and several other employers before establishing Ascendant Capital. Jeffrey Schneider has risen to the peak of his profession with one thing in mind; deep knowledge in securities management, alternative investments and investment banking.…

    • 1026 Words
    • 5 Pages
    Decent Essays
    Read More
  • Improved Essays

    Patient Centered Reflective Essay
    • 382 Words
    • 2 Pages

    Patient Centered Reflective Essay

    One of the components of a value-enhancing HIT platform is that it is patient-centered. This means that the system trails the patients across services, sites, and time for the full episode of care, and this includes hospitalization, outpatient clinic visits, laboratory testing, physical therapy, and other types of interventions (Porter & Lee, 2013). And I’m inclined to agree with you that collaboration between laboratory and primary care services should be integrated and immediately available to patients. To integrate care for individual patients across locations, healthcare providers must learn to tie together the patient’s care across the different sites.…

    • 382 Words
    • 2 Pages
    Improved Essays
    Read More
  • Superior Essays

    Case Study Apollo Shoes Fraud
    • 1781 Words
    • 8 Pages

    Case Study Apollo Shoes Fraud

    Mrs. Wardlaw, I am reaching out to you today to discuss the possibility of fraud within the Apollo Shoes financial statements. After reading through some company documents in preparation of this Audit I have noticed multiple red flags that although in themselves do not constitute fraud outright, they do demand that we investigate this issues further to ensure fraud is not taking place. Through my initial research I believe the possibility of fraud at Apollo Shoes to be very high, and as such we must take precautionary measures to avoid risk falling back on the firm. In my next paragraphs I will outline some of the questionable practices I have noticed from the board of directors meeting minutes, and my analytical review, and why these factors…

    • 1781 Words
    • 8 Pages
    Superior Essays
    Read More
  • Improved Essays

    Betting Vs Bookies
    • 1205 Words
    • 5 Pages

    Betting Vs Bookies

    When you gamble online, you are betting against a bookie. They produce odds that show how much you will be paid if you win. These odds are manipulated to ensure the bookie cannot lose, and they may even use the odds to affect which bets you place, since unlike investing, you have a choice on how much you place on each bet. When you invest, you do not have a choice of how much a share costs, though you do have a choice around how many of them you buy. When you buy shares, you are not putting your money against a bookie, which is a point in your favor.…

    • 1205 Words
    • 5 Pages
    Improved Essays
    Read More
  • Improved Essays

    Case Study: Stratton Oakmont, Inc.
    • 1053 Words
    • 5 Pages

    Case Study: Stratton Oakmont, Inc.

    Stratton Oakmont, Inc. was a Long Island, New York based "over-the-counter” brokerage company founded by Jordan Belfort. Stratton Oakmont is one of the well known and most controversial stock scandal of all times. Jordan Belfort also known as “wolf of wall street” was a stockbroker who ended up doing a big stock manipulation. He looted his clients by underwriting an initial public offer(IPO) for a company that doesn’t exist then they used pump and dump scheme to sell its self-owned stocks by giving false and positive statements so that they can sell the low-priced stocks at higher prices. Once an opened, company artificially manipulated the price of the share, since they had virtually all the shares.…

    • 1053 Words
    • 5 Pages
    Improved Essays
    Read More

Related Topics

Ready To Get Started?
Discover
Company
Follow
©2024 Cram.com
Privacy Policy |  About Ads |  Site Map |  Advertise  | 
  • Cookie Settings