Banxso’s link to the Banc de Binary scam

The controversial Cape Town-based trading platform Banxso has strong links to one of the world’s largest international binary options scams operating between 2010 and 2017.

Moneyweb has been contacted by more than 165 victims who reacted to these ads and claim they have lost more than R91 million collectively. Moneyweb has requested interviews with Sekler on several occasions, but they were either declined or ignored.Banc de Binary was founded in 2009 by Oren Shabat Laurent, who holds American and Israeli citizenship.

The Cyprian regulator also fined Banc de Binary multiple times between 2013 and 2017 for being dishonest, offering services it was not licensed to offer, and for running misleading marketing campaigns. In 2017, Buzzfeed exposed a fake CNN news article containing a video in which Stephen Hawking claimed he had developed a trading algorithm that could earn investors at least $1 455 a day on a $250 “investment”.These fake articles and videos are very similar to the fake Rupert, Oppenheimer and Musk ads from which Banxso receives leads.

The plaintiff subsequently lost her money and alleges Laurent, as founder and CEO, was the “architect of the fraudulent scheme” and the ultimate beneficiary of the money she lost. Laurent is defending the claim.Banc de Binary consisted of numerous companies registered in different jurisdictions. “Furthermore, Mr Sekler has also never owned any corporation in Belize that operated under the guise of BDB, alternatively, purported to have any relation with BDB, an entity that, to our knowledge, nevertheless ceased operations nearly a decade ago. In any event, it is unclear how this line of questioning relates to Banxso, whether directly or indirectly.

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Showmax reports R2.6-billion in trading lossesSubscriber growth at the relaunch Showmax has been strong, but start-up costs are high.
Source: TechCentral - 🏆 8. / 71 Read more »

Naspers, Prosus, show little reaction to trading updateNaspers, Prosus, show little reaction to trading update
Source: News24 - 🏆 4. / 80 Read more »

Unravelling the crypto puzzle: navigating rules and regulations for trading in South AfricaTraders who familiarise themselves with the rules and ensure tax conformity may enter the crypto world with confidence
Source: mailandguardian - 🏆 2. / 92 Read more »

New online trading service puts people at the centreLinton White, the Regional Head of ATFX Africa, says the company’s attention to detail makes it special.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

Elevating Your Trading Strategy with MetaTrader 5: What’s New and ImprovedChoosing the right trading platform is a critical decision in the fast-paced online trading environment nowadays for traders. MetaTrader 5 (MT5) is a revolutionary kit that adds so many advanced features that traders currently require.
Source: SATodayNews - 🏆 44. / 51 Read more »

NYSE fixes issue that showed 99% drops, triggered trading haltsThe third episode to hit US markets in the past week — was resolved after roughly 45 minutes.
Source: Moneyweb - 🏆 5. / 77 Read more »