What to do if a card issuer won't help w/ scam

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What to do if a card issuer won't help w/ scam

Postby Matrix3312 » Sat Sep 27, 2014 9:06 pm

I was victimized by a Binary Option run by TigerOptions who misrepresented themselves to be based here in the US. I made a deposit to an account with TigerOptions using two Credit Cards one was my Capitol One Visa card in the amount of $3500 and the other one was a US Bank credit card in the $4500. I was told by TigerOptions that this qualifies me for a proffesional Account Manager that will instruct me on how to do trades and he guarantees that with my $8000.00 + $8000.00 bonus that's a total of $16,000.00 I would be able to make at least $10,000 every month. When everything was set up in my account all documents were signed and the trading session with my account manager on the phone to tell me which trades to initiate on the first 15 minutes trading session. I followed each instruction on what currency to trade with whether to trade with a Call or a Putt where I was told to invest. We invested at least $10,000 on different types of currencies, as I was making the trades while following the instructions of my TigerOption account manager. I kept on asking him over the phone "are you sure about this because I said we are trading to much and to fast" but he just kept on telling me to follow every instruction that he makes in order to make that $10,000 a month profit since after all he is the professional trader and he knows what he was doing. On the fist session I was really relieved when it was over because I found that that we were ahead by $2000.00. So this then made me less nervous in following my Account manager's instructions.

Then when the next trading 15 minute session started. He gave me all the instructions again on what currencies to trade with and whether to make a Put or a Call. I had more confidence on my account manager now since we won $2000 on the first session after Then we made more trades than the first 15 minute session. In the back of my mind I still felt very uncomfortable about the whole thing. Then it happened I watch in Horror as I saw the trades that I was instructed to make were all losing we didn't just lose the $2000 that I won on the first session we also lost close to another $10,000 on the second trading session.

That's when I realized that this is beginning to look like a big scam, if I continued I would all of my $8000.00 + the $8000.00 bonus that TigerOptions gave me in the next 15 minute trading session. So I decided to withdraw all of my $8000.00 before that happened. I also took the liberty to take snapshots of the withdrawals that I made to document the transactions as it was being made. On the time since time my TigerOption account manager was still on the phone kept on asking me calling me what was I doing? Why was I not following his instructions? So I told him the deal is not going to work out because if I continue to follow him I would lose all of my $8000.00 investment that is why I initiated my withdrawals before it happened. I also told him that I have documented everything that has happened and will send those documents to my Credit Card company to prove to them that I was being Scammed so that I will get all of my money back from TigerOptions.

I immediately called both Credit Card companies Capitol One Visa and the US Bank Visa. I told them everything that has just happened and I said that I have it all documented everything from the very beginning until the end because I have a feeling that TigerOptions might not honor the withdrawals that I made to get my $8000.00 back. Both Credit Card companies told me that I shouldn't worry since I have documented everything I will definitely get all of my money back even if TigerOp[tions dosen't initiate the funds transfer for my withdrawals. Two days later I called Capitol One Visa and they told that I already have all of the $3,500 back into my account so I was relieved. However with US Bank it was a different story there numerous calls that I had to make and more documentations were required. I even wrote a letter describing everything and re-faxed all of the snap shot with the instructions and descriptions on how everything happened. After three weeks of calling US Bank over and over again . I finally got a letter from US bank telling me that they will Not be able to help with my case because they consider the transactions as valid since I gave them my Card number over the phone. This then makes me liable for the $4500. 00 that I now owe US bank. When I callede US Bank that even after all of the documents that I sent them and the letter describing everything that has happened they can not help even when they know that I was a victim of Fraud because Tiger Options miss represented themselves as a US based Binary Option platform although later on I found out that they were based in Hongkong. Even with all of the evidence presented to the US Bank they still will not be able to help me get my money back. Since according to US Bank even when I have documentation of the the withdrawals that I made and even when the money transfer from TigerOtions never happened they can't help me.

So I ask this forum what can I do to get US Bank to help me get my money back from these Scammers? Is US Bank suppose to help me if I was victimized in a scam or a fraud?

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Postby MemberSince99 » Sun Sep 28, 2014 7:35 am

Your first mistake in this whole thing was to let your greed overwhelm your common sense.

NO ONE and I mean NO ONE legitimate is going to promise you fantastic returns speculating like that - anyone who does is lying and is a crook. Period.

Yes you clearly got scammed, but you also fell for this on your own initiative and gave them the money to speculate with. You gambled and lost and now you want your money back.

On the one hand I despise scammers and want to see them put out of business, even though there will always be another one crawling out of the sewer. On the other hand, a fool and his money is soon parted, as you learned. It might be good advice to take this as a lesson in life and come to the realization that if it sounds too good to be true, it probably is, and there are NO guaranteed massive returns in life.

Hell I lost my 401k money and I didn't get to cry I wanted it back even though the thieving CEO was telling us employees to buy up that company stock cause it's gonna climb, while he's dumping over 10 million worth and cashing it out because he knows better. I just sucked it up and ate my loss there and chalked it up to a lesson in life the same way as the CEO laughed all the way to the bank. Now when they try to push that 401k crap on us I think long and hard about where MY money is going. The difference is, they never promised us a return, well other than the lies of the d-bag CEO of course but we should have known better than to believe him. You have to think long and hard about turning over your hard earned money.

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Postby dickey1331 » Sun Sep 28, 2014 7:24 pm

Yeah that seems like a scam to me and I dont blame US Bank for not giving your money back. It sucks but sometimes the hardest lessons are the best.
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Postby EliteQueen92 » Sun Sep 28, 2014 8:26 pm

dickey1331 wrote:Yeah that seems like a scam to me and I dont blame US Bank for not giving your money back. It sucks but sometimes the hardest lessons are the best.

I have to agree.. I'm wondering why you didn't find anything fishy from the beginning? Wanting more and more money would sound fishy to me. I wouldn't trust anything like that.

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Postby takeshi » Mon Sep 29, 2014 9:42 am

I'm not sure you have much in the way of options even if they are a scam. Definitely do your due diligence in the future. Even quickly Googling Binary Options Tiger brings up a lot of hits that would make me doubtful. Good luck with it.

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