In 2016 when a Canadian entrepreneur Fred Turbide decided to invest his money in ’23 Traders’, little did he know that the firm would run away with all his money at one go. First Option Recovery already knew about this 23 Traders scam and, hence, warned its customers about the firm’s potential pitfalls. Owing to such nuisances, they backed out of the funds they invested with them and saved their hard-earned money.
Thanks to the fantastic team at First Option Recovery, we saved millions from our customers. Having already dealt with significant scams like Magnum Options Scam and TorOption Scam Coming to millions, we have so far recovered more than $19 million from over 2100+ clients and have worked with over 3100+ clients. Our team of 128+ attorneys works across the globe every day to eradicate financial frauds similar to the 23 Traders Scam.
23 Traders, a scam nine years in the making, is reported to have duped thousands of investors with millions of dollars so far. 23 Traders Scam was recently exposed in April, where we found out that the firm is just a call centre running from a small town in Israel.
Mr Turbide had been investing his money with 23 Traders firm for quite some time now; however, when he realized that he had been scammed and lost all his life savings, he decided to take his life, leaving almost nothing for his wife and four children. Unfortunately, Mr Turbide should have realized that all is not lost and could quickly recover the money lost due to the 23 Trader Scam. Had he contacted us directly here at First Option Recovery, where our team could have guided him to the many ways to recover his money. Let’s dive into that fact into the latter part of the article, and right now, focus on what precisely the firm ’23 Traders’ is.
WHAT IS THE 23 TRADERS SCAM?
23 Traders Scam is a binary options scam that positioned itself initially as a firm run from Israel. Although the firm pretended to be from Europe and carried out scam investments worldwide, it had a significant presence in the Canadian and US Market. It initially offered demo trading classes to all the investors and asked them to make a small token deposit, converted to a profitable trade using their fake mechanism. After that, the firm assigned a particular salesperson, disguised as a top-class financial advisor, for a specific business who from now on guides the investor to profitable trades.
In Mr Turbide’s case, he was assigned a man named Julian Wellington, who would eventually guide him into the doomsday. Leaving that aside, the trader would then start following the salesperson’s advice and keep on depositing more and more funds every single day with the hope of making a massive profit in the coming days. Each salesperson was assigned the task of ripping out the customers of this much amount of money, and once the target was complete, they would vanish out in thin air, leaving the customer to despair and utter dismay.
Such was Fred Turbide’s case, who believed in Mr Wellington and acted upon his advice only to be ripped off his life savings of approximately $200,000. Only if he would have contacted us at First Option Recovery, that could have saved his life.
HOW DID THE 23 TRADERS SCAM GET EXPOSED?
Binary Options scams like these are pretty common on a day to day basis. These scams run from call centres worldwide and primarily happen in developing countries where the rules and regulations are not that strict. Such was the case with ’23 Traders Scam as well, where it operated from a call centre in Israel named “Market Giants Ltd,” in 9 Barkat Street, Petah Tikva.
With thorough guidance and help from First Option Recovery, Investigative authorities in Canada have strictly ordered investors to not invest their money with brokers belonging to other countries. Only regulated brokers belonging to Canada with a valid license number should be the medium of investing your money. Sites belonging to other countries are not allowed to sell securities in Canada, as per the law. Hence, it is advisable to never go with offshore traders while investing your money.
A sad part of the scam was that the fraudsters at 23 Traders have zero moral value. Mr Turbide, before his death, issued a warning to Mr Wellington that he is going to take his own life within an hour if he doesn’t respond. Unfortunately, the response never came. What was even worse than this is that Mr Turbide’s credit card continued to be charged even after his death. It was only after his credit card was blocked that the fraudulent transactions stopped happening—no wonder the FDI stepped in to expose the 23 Traders Scam as quickly as possible.
HOW TO NOT LOSE HOPE IN SUCH SITUATIONS?
Due to losing their money, many traders lose their mind when they end up being a victim of some financial fraud. Few like Mr Turbide take even harsher steps fearing what the future holds for them, many decided not to take any risks where the 23 Traders Scam stands exposed.
What if I say that there is always an option of getting your money back? It might be surprising to hear that, but it is true in every sense. All you need to do is search for a good fund recovery firm with a stellar reputation and a success rate in this field.
First Option Recovery, a firm dedicated to recovering your funds, is one of the world’s most preferred Recovery Firms. They have already had significant success in dealing with all kinds of binary frauds. Their world-class team of respectable attorneys and lawyers work with an efficient team of private investigators across 22 countries to eradicate financial frauds and bring your money back. Contact us if you have been a victim of the 23 Traders Scam with your query, and our team will get back to you at the earliest.