Back in 2016 when a Canadian entrepreneur Fred Turbide decided to invest his money on ’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, as a result, warned its customers about the potential pitfalls of the firm. Owing to such nuisances, all of them backed out of the funds that they invested with them and saved their hard-earned money.
All thanks to the amazing team at First Option Recovery, that we saved millions out of our customers. 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 9 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 it was found out that the firm is in itself just a call center 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 the money lost due to the 23 Trader Scam could be recovered easily had he contacted us directly here at First Option Recovery where our team could have guided him to the fact that there are many ways to recover his money. Let’s dive into that fact into the later part of the article and right now, focus on what exactly the firm ’23 Traders’ is.
What is the 23 Traders Scam?
23 Traders Scam is a binary options scam that positioned itself as a firm that was originally run from Israel. Although the firm pretended to be from Europe and carried out scam investments all across the globe, it had a major 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, which was 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 one particular trade who would from now on guide 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 huge profit in the coming days. Each salesperson was assigned a 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 the case of Fred Turbide 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, then his life could have been saved.
How did the 23 Traders Scam Got Exposed?
Binary Options scams like these are pretty common on a day to day basis. These scams run from call centers all across the world 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 center in Israel named “Market Giants Ltd,” in 9 Barkat Street, Petah Tikva.
Investigative authorities in Canada, with the thorough guidance and help from First Option Recovery, 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 advised to never go with offshore traders while investing your money.
A sad part of the scam was that the fraudsters at 23 Traders have absolutely 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 back. Unfortunately, the response never came. What was even worse than this is that was the fact 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?
A lot of traders, owing to losing their money, end up losing their mind when they end up being a victim of some financial fraud. Few like Mr. Turbide take even harsher steps with the fear of what the future holds for them and 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 is true in every sense. All you need to do is go on searching for a good fund recovery firm that has a stellar reputation and has a good success rate in this field. First Option Recovery, a firm dedicated to recovering your funds within 90 days, is one of the most preferred Recovery Firms in the world. 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.