Safe Or Scam LLC – How We Support Investors
Safe Or Scam acts on behalf of concerned investors. We review investment products and advise on recovery options. In serious cases we work with legal teams to investigate all aspects of an investment with the aim of prosecuting the people involved and recovering investments
We challenge developers, project owners, sales agents and third parties involved in a project to justify the claims made in correspondence and promotional material.
We are currently representing a number of investors who invested in binary options. If you are a binary options investor and you have concerns, or you worked at a binary options company and you have information you feel would assist us, please contact us. It does not matter if the company has disappeared. We are having some success at finding the people involved.
For more information on the work of Safe Or Scam please visit our website at Safe Or Scam
If you have invested in binary options you do not need us to tell you what they are or how they work (or don’t work in many cases). Many of the scam companies claim to be incorporated offshore and they often ask for payments to be sent to third parties (mules) who are paid to help make it difficult to find the investors’ money.
Please see ‘Companies’ page for details of the current list of rogue companies. Safe or Scam is working with investors to trace and recover their money.
We are also working with a UK solicitor on binary option mis-selling cases involving pension money or IFA advised clients.
We have traced a number of key people involved in the scams and will be highlighting some of them on this website. We are going after them on behalf of our clients. We are in contact with a UK Police Fraud Division. Anyone who feels they were the victim of a binary option scam should report the matter to Action Fraud.
How They Do It
When you look at the small print in the contract or on the binary option website you will often find that they claim to be a company incorporated in a remote and secretive jurisdiction. The Marshall Islands is a favourite location.
It is easy to claim that they are an offshore company because it is often difficult to get information out of these jurisdictions, but it is not impossible…. However, the investor’s money is rarely paid direct to the BO company. It normally goes through a ‘mule’. A BO mule acts in the same way as a drugs mule i.e it transports an item of value on behalf of the criminal so that the ultimate recipient is able to hide both their identity and the final destination of the money. The mule is paid for that service.
The standard method is for the mule to establish a UK company, open a UK bank account, take in money from investors and then, after 6 – 18 months, empty the bank account and close down the company. They typically do this without filing any accounts to the tax authorities so there is no record of how much money they have taken in for the crooks. But, we don’t let the mules get away with it. They do not realise that it is possible for an investor to have the company reinstated and to go after the owner of that company. That is one of the weapons in our armoury.