SecuredOptions - Scam alert, they will suck you dry and leave you hanging

TommiTommi Posts: 4
On 8th April, I was directed to a Binary Trading entity SecuredOptions by signing up ignorantly with an automated trading software called CopyBuffet. Within minutes of opening and placing a deposit of $900 in the trading account, I received a call from a phone operator from SecuredOptions. As it was the weekend, the operator informed me that my account manager will be talking to me the following Monday. Sure enough, come Monday, a James C. Bennet who claimed to be the trader assigned to manage my account, rang me up.

James talked, inquired and dig deeper into my financial status and convinced me to pump in another $5,000 so that he can show me his capabilities to make money. Thus, we started this so called Account Manager/Client relationship with $8,793.50 starting fund (I traded and made some profits over the weekend).

Over the course of the next 2 weeks, James made a series of 5 trades with 100% winning streak and brought the account up to $11,358.50, bringing a handsome profit of $2,565 or 29%. At this juncture, he assisted in a $1,000 withdrawal back to my credit card which was received within 3 days, in order to prove that the withdrawal process is totally legit.

In addition, he kept selling the idea of getting me into a VIP trading group, managed by a Ben James, which promises higher returns with lower risk. The minimal entry to this group is a $100,000 injection from my end. When he learned that this is beyond my financial status, somehow, he said that the company will make an exception for a valued client like me, and will allow entry with just a $50,000 injection. He managed to hypnotized me into injecting an additional $10,000 while we brainstormed along the way on how to come up with the rest of the money. At this point, my total “investment” stands at $15,900.

He threw out suggestions to garner the remaining funds, such as;
1) Borrowing money from my family members, relatives, friends or colleagues;
2) Taking up personal loans from banks or credit companies;
3) Transferring my ongoing investments and fixed deposit into the trading account;
4) Mortgaging my house;
5) Selling my car etc.

As we are exploring the possibilities along the way, he continued to execute another big winning trade and brought the account up to a nett $23358.50 (minus away the $1,000 withdrawal). At this point, I made it very clear that with my current financial status, $15,900 is the maximum I am willing to risk for the next 6 months. In addition, I will start to make regular withdrawals from the trading account. That is when things started going downhill.

The next trade that was placed after this conversation was $3,000 on GOLD. And it was a loss, ending his 100% winning streak for the past 6 trades. The account was down to $20,358.50.

We had another conversation and I made it very clear to James again, that there will be no more money going into the account from my end. Then I requested for a 2nd withdrawal of $1,000 on 4th May. The withdrawal was approved, but then the money was nowhere to be seen as of 16th May. I have requested SecuredOptions to trace this missing fund, so far there is no reply on their end.

The grand finale came on 11th May. This was after all the conversations of me not pumping any more money on my end, and the money need to starts flowing back to me. James placed a total of 4 trades at the exact same time, with 2 of them being on the same commodity. This move involved an “All-in” kind of action, total of $19,121 injection into the trade and almost emptied out the account, leaving only $237.50 balance.

Not surprising, 3 out of the 4 trades were losses. The only winning trade, which I believed happened only by chance, kept the account alive with $7,449.50.

The method of the last 5 trades has shown an unprofessional, fraudulent, manipulative and reckless trading behavior and attitude adopted by James C. Bennet. There is a black and white statement stating that all stagnant money in the account, not involved in any trades, is insured. My suspect is James C. Bennet, or SecuredOptions, is trying to get all money out of the account onto the trading floor, so that minimal money is being tied to this clause. And they are trying to get most, if not all, the money to end up as losses, so that no payout is necessary from SecuredOptions.

I have dropped a black and white email to SecuredOptions so called “Compliance Dept.”, “Accounting Dept.” and James C. Bennet to stop trading on my account immediately. Right now, I am asking to close my account and asking for a refund of $7,449.50 + $1,000 (the 2nd withdrawal which is still lost in translation). Still pending reply from SecuredOptions.

All contracts, email correspondences, deposit and withdrawal records, trading records are available for verification.


A warning to all:

SecuredOptions, or the so called Mr James C. Bennet, should be more accurately labelled as a scam artist rather than a trader/account manager. He/They will convince you that you have found a winning formula in making passive income. He/They will smooth talk you, connect with you, share life experiences with you to bond with you and gain your trust. He/They will give you advice on how you should take more financial risks rather than living like the rest of the world. He/They will tell you how stupid it is to keep money in the bank and earning meagre returns. He/They will gradually and gently coax you to part with whatever money you have, and even going for money that you do not have. All the while, showing that he/they is more than capable in making profits with your account.

But the moment when he/they found out that you have been completely milked dry, things will suddenly take a turn for the worse. Any successful withdrawals (if any) that you have enjoyed so far, suddenly seemed plagued with problem and money is not getting back to you. Trades placed from this moment onward, more often than not, will result in losses. You will see your account $$$ dropping drastically.

Right now, I am giving SecuredOptions the chance to clarify this matter and refund the $8,449.50 due to me. If nothing is moving after 1 week, I will resort to go through governmental and legal channels. Even if I failed to get me money back in the end, I will make sure SecuredOptions will be blacklisted and labelled as scam on as many forums and review websites as I could possible reach.

Comments

  • TommiTommi Posts: 4
    I'm consolidating a namelist of all victims. I will formulate a simple questionnaire to derive a summary of the number of affected clients and the common problems encountered. Many of these scammers got away with things cos the complaints are scattered. Hence I will be consolidating the necessary information and submitting to whatever authorities as a petition group.

    Email me at [email protected] with the headings "SecuredOptions - Scam alert complaint". Spread the words around to any victims you know or post on any forums you might be on.
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