BinaryBook Scam Story

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BinaryBook – $1,5 Million Scam Story

Former US secret agent and attorney Haggai Carmon has managed to retrieve about $1,5 million to one victim of BinaryBook scam brokerage company. Carmon is now retired but he was asked to help search for the money and reveal the secret of BinaryBook scam.

Wealthy Californian Businessman Got Scammed by BinaryBook for $1,5 million

The victim was Californian businessman Steven Koel that was according to the story, looking to increase his profits so he can pay for the health care of his sick son. After searching for the right broker, he came across BinaryBook and started trading. He said their staff sounded so professional and legitimate. After some time, he managed to grow his balance and he decided to make $1 million withdrawal. BinaryBook was refusing to give a definite answer and release the funds, so Koel started suspecting something went wrong.

After the things got serious, Koel contacted Wealth Recovery International, the company that deals with binary options victims and asked for help. Wealth Recovery International has started investigating and they spend a lot of time trying to gather as much information that would recover Koel’s money. After hundreds of hours, they have decided to invite former US secret agent Haggai Carmon who accepted the case and continued searching for the BinaryBook owners.

Attorney and Former US Secret Agent Started Researching the BinaryBook Case

Carmon started looking for BinaryBook people and he tried to uncover their real identity. He was using different aliases and skills to get the original identity of BinaryBook deceivers who tried to deceive Steven Koel. Carmon later said he was very shocked when he realized how some binary options companies hide the money like world class money launderers. He was amazed at the system which BinaryBook used to operate with their client’s money.

Carmon later discussed and commented on BinaryBook case:

“A top professional tailored the layering,” he said, referring to the practice among money launderers to distance money from its criminal origins by hiding it behind layers of financial transactions. Binary options companies, 90% which operate from Israel, similarly hide behind layers of false identities.”

Carmon Managed to Recover the Money

After hard and extensive research, Carmon has contacted all BinaryBook senior managers to send Koel’s money back to his bank account. Carmon managed to reveal their true identities which were the hardest part. He has also asked them to provide binary options license which the haven’t because BinaryBook was a scam company.

Carmon has received various threats by their lawyer, but after certain time period, they have agreed to transfer the money back to Koel’s bank account.

He has managed to expose binary scam broker and recover 1,5 million dollars to his account.

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He explained that BinaryBook lied about various things to its clients. Their customer support agents were not located in the UK, but various countries, the company was registered in one country, but the money was transferred to another company using offshore accounts.

Allegedly, BinaryBook transferred Koel’s money in two banks located in Poland (Česká Spořitelna bank and Bank Zachodni). Polish attorney that was helping Carmon with some legal documentation confirmed that bank transfers looked exactly like money laundering actions.

Former US Secret Agent Recovered $2 millions from BinaryBook Scam

December 23, 2020 12:12 pm

Author, attorney and former US secret agent Haggai Carmon, managed to track Down Binary Book employees and recovered around $2 million on behalf of four clients who became victims of this binary options scam.

Carmon, who worked with US intelligence, used his skills to expose real identities of people involved in BinaryBook fraud, which helped his clients get their money back. Using aliases and false representation is a big issue in the binary options industry, as scam binary brokers like BinaryBook often use those to deceive traders who later can’t get in touch with them as they simply don’t exist and have already changed their name.

BinaryBook Scam Story

Carmon explained how he was both shocked and amazed by the complexity of this scam. The biggest amount he recovered was $1.5 million for a Californian business Steven Koel who wanted to increase his savings as he has a sick son.

Find out more about binary options scam brokers.

Koel did an extensive research and found out about BinaryBook. The website of this scam broker seemed to be legit, and customer support agent was very patient and provided more than sufficient information regarding binary options trading. What Koel didn’t know is that BinaryBook has a reputation of binary options scam, and that, in fact, it is a fraud.

Koel made a deposit in the amount of $1.5 million and started trading. He had great confidence as not all trades were won. He used to win some, and lose some, but overall trading experience with BinaryBook was profitable. Then, he wanted to withdraw $1 million, but BinaryBook scam, as usual, found many excuses not to do so. This is common practice with scam brokers – they frequently find a way to stop communicating with the trader or some reason not to be able to process a withdrawal.

Determined to get his money back, he asked Wealth Recovery International, a company specialized in helping victims of financial crimes. He had to explain the entire situation to the smallest details and develop a strategy. Finally, he got in touch with Haggai Carmon who had vast experience in working on top secret operations and with dangerous criminals.

Secret Service Against BinaryBook Scam

Carmon said that he was impressed by the way scam binary brokers operate, as they rely on sophisticated networks that make it impossible to track real criminals down. His method included sending personalized emails to all senior managers’ home addresses and retention staff. All letters contained the same message – give Koel his money back.

What surprised BinaryBook scam broker the most is the fact that, thanks to his experience of working in intelligence, Carmon found a way to find out their true identities, which exposed them like never before. Carmon asked them to deliver their licenses for offering binary options trading, and they failed.

Carmon then received a letter from their lawyer that was very threatening, but in the end, broker agreed to make a payout on Koel’s account.

Binary Options Broker Scam Signs

This way, Carmon exposed complicated and sophisticated mechanisms that scam binary brokers like BinaryBook are using to operate on the market. He noted that such level of complexity was seen only among top criminals and crime organizations. Scam binary brokers are difficult to trace as there is not a single regulatory body that controls them. They operate under different companies and have banking accounts in different countries.

In BinaryBook scam case was found out how they used customer support agents who used false identities and were operating not from the UK, as they claimed, but from other countries. As they sound legit, many traders have no reason to doubt their intentions. It also happens that company is registered in one country, customer support is in the second country, money is transferred to a third company to an offshore account… the network gets more and more complicated. Carmon described scam binary brokers as eels who are impossible to catch but they always manage to electrocute you.

In the case of BinaryBook scam and Steven Koel, the money was transferred to two banks in Poland. Local lawyer in Poland explained how the transactions are executed in the same way the money laundering takes place.

Carmon also said that one of the main issues of fighting with scam brokers is that nobody puts real effort like he did. In most cases, only the shell companies are investigated, but it rarely comes up that someone really tracks down the real criminals and fights the broker at its core. In many cases, guilty ones remain intact and the money is lost forever. It is also common that brokers change names, but people behind the fraud stay the same as in the case of TitanTrade and NRGbinary.

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Binary Book Review

Binary Book is a confirmed Scam!

You should trade with a real broker, look here

Binary Book was an unlicensed binary options broker owned by Tech SB LTD.

They are located at: Sofia Municipality, Vuzrazhdane Region 87 “Pirotska Str., fl. 4, app. office 12, Sofia 1000, Sofia District , Bulgaria. Their former corporate name was WSB Investment Ltd. Their phone number is +44 203 026 4498 and their email address is [email protected]

For withdrawal and broker complaints read this.

WARNING: To see how the binary options scam works, read this.

Platform Review

Binary Book uses the popular SpotOption trading platform that is used by over 100 binary option brokers. Their website is only available in English, Arabic & Turkish. The SpotOption platform offers Binary Options, Ladder Options, Speed Trading, 30 & 60 second options, along with Pairs Options, Weekly and Monthly options.

The platform also allows for CFD and Forex trading. The returns for $EUR/USD options is 81%.

Binary Book License

When you are researching a binary options broker, the first thing to check for is a license. The reason to use a licensed broker is so that you do not have problems withdrawing your money, or if you have a complaints about the broker, see complaints here.

We checked CySEC and did not see a license for Binary Book. This means they are NOT a Licensed Broker.

On October 26th 2020, FINRA published an investor alert regarding offshore binary options brokers. Read the alert on FINRA’s website here.

Compare Binary Book

Each month the list of most popular brokers can be found here.

What was your experience trading with Binary Book? Please share your experience in the comment section below, for other traders to know.

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