CYPRUS: GIAMBRONE VERSUS BANC DE BINARY AND OPTIONS FM GROUP…

by on 31 Μαρτίου 2017

Giambrone launches two Class Actions and Regulatory Complaints against Banc de Binary and Options FM Group

Giambrone has launched a three pronged attack on Banc de Binary  and Options FM Group in an attempt to retrieve the funds lost by our clients to these organisations. A class action is about to launch in Israel against Banc de Binary/Options FM Group  (BdB/OFM group), their shareholders and directors, in partnership with Israeli lawyers, F H Law. A similar action is imminent in the UK against the corporate entities of BdB/OFM Group.

Joanna Bailey, head of Giambrone’s financial services, forex & binary options litigation team stated «Giambrone is making a determined effort on behalf of our clients to obtain restitution of the mis-appropriated funds for our clients», she further stated «many of our clients find their finances in tatters as a result of the actions of Banc de Binary and Options FM Group, they trusted these organisations and have been left with nothing».

In addition to the two legal actions, Giambrone is also targeting the regulatory authorities in Cyprus, making regulatory complaints to the Financial Ombudsman in Cyprus.  Vito Anello, an associate within Giambrone’s financial services, forex & binary options litigation team said «Regulatory Bodies should protect individuals from this type of fraud and take the appropriate steps to address the issues in a timely manner», he also remarked, «Regulatory Bodies’, including Cyprus Securities and Exchange Commission (CySEC), first responsibility is to the victims of such practices and regrettably it seems that this organisation has been very slow to act».

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