Shortly after the closure of NRGBinary, the LBinary website was also shut down for unknown reasons.
LBinary has become one of the binary options brokers that have faced operational problems. The firm’s website went down suddenly, without any explanation. The company provides binary options trading services to its clients, and there have already been warnings in several online communities regarding how the company handles clients’ money.
LBinary has already appeared in the news, after the broker has already been mentioned as a case for litigation, in the case of the international legal organization Giambrone Law and London-based Healys LLP. Allegedly, this binary options broker has made significant cash deposits at the expense of its victims.
Along with LBinary, NRGBinary was also mentioned, whose website also ceased to function. No company is regulated by any major financial regulators. According to LBinary’s website, the company had several owners, including Gibraltar-based Chelestra Limited, as well as UK-based LAS Holdings LTD.
Giambrone Law and Healys LLP represent more than 70 clients who they claim have lost more than €4.3 million. The main number of plaintiffs from the Middle East, from Europe, Germany and Italy are most represented.
According to the lawyers who acted for Finance Magnates, the payment processor Moneynetint Ltd, regulated by the Financial Transactions Control Authority, registered in the UK, serves as a tool for receiving funds from brokers where they have deposited. At this time, there is no evidence that Moneynetint was involved in this fraud.
According to an investigation by Giambrone Law, both LBinary and NRG Binary have a similar ownership structure, and both companies protecting them are located in the UK.
Tagged with: News of binary options brokers
