Legal Law Limited is moving closer to successfully taking the fraudulent investment broker Banc de Binary to task for the multiple scams perpetrated against the unwitting investors. The proposed group litigation planned by Legal Law Limited’s financial fraud team is exponentially building the numbers of litigants joining the class action against the fraudsters.

The fresh approach proposed by Legal Law Limited and our partner law firm will be employing in the legal action will be difficult for those involved with Banc de Binary’s illegal activities to evade and regardless of how well the principals of the bogus broker think they have concealed the funds taken from innocent investors, there are other avenues that the planned class action intend to use which it is hoped will lead to the restoration of the victims’ lost funds as it has previously in other legal actions.

Recovering funds scammed from investors is a notoriously lengthy process as unsurprisingly the fraudulent brokers take considerable steps to conceal both themselves and the money that they have pocketed. Often, using a myriad of off-shore companies, the money criss-crosses the globe in an attempt to throw off any law enforcement agencies or private attempts to track them down. It takes considerable persistence to trace and orchestrate a lawsuit that is sufficiently robust to obtain, not only justice but the restoration of the lost funds.

Banc de Binary and its American/Israeli founder Oren Shabat Laurent, have been the subject of numerous fines and bans by various regulatory bodies across the world. Frequently setting up shop in any country where there was a loophole or a lax regulatory regime and assuming the gloss of respectability. At one time Banc de Binary sponsored Liverpool football club in an attempt to appear above board. Despite having to pay substantial fines Legal Law Limited’s financial fraud team is fully aware that there are significant assets that still remain attached to Banc de Binary and the individuals involved, which are capable of being applied to the restoration of the money which Banc de Binary defrauded from its novice investors.

The nature of the scams that Banc de Binary actively perpetrated make it problematic for an individual to challenge, the fact that they were persuaded to hand over their money by illegal means is far better demonstrated when a court sees multiple victims in a class action where the repeated evidence of the victims clearly demonstrates that the losses were part of deliberate pattern of behaviour on the part of the broker to defraud the unwitting and often completely inexperience investor. The lawyers in the financial fraud team see this pattern repeated again and again by fraudulent brokers and are very experienced in recovering lost funds once there is a body of evidence of sufficient weight to present to a court of law.

Legal Law Limited’s current class action against Banc de Binary is aiming to claim damages, as compensation for or reimbursement of our clients’ lost investments. The strategy intended to be employed will be distinctive and it is hoped may not be anticipated by the former principals of Banc de Binary, thereby providing an greater opportunity for success.