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Zoey_JD
Zoey_JD, Criminal attorney
Category: Fraud Examiner
Satisfied Customers: 23597
Experience:  Active member of the NYS bar since 1989
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I invested with a company called SpotFn a binary company based

Customer Question

I invested with a company called SpotFn a binary company based in England but with offices in New York. The Company still owes me money and they have given my information to other people that claim they have sued SpotFn and that if I send them money I will get money back. SpotFn even claims they will give me more money. Can you tell me if there is a way to go after them. They are still doing business.
Thank you,
Anne Nevin
Submitted: 1 year ago.
Category: Fraud Examiner
Expert:  Zoey_JD replied 1 year ago.
Hello,
My name is ***** ***** I will be assisting you with your question.
The UK does not regulate binary brokers, although there are some that are legitimate and which have registered with the UK's Financial Conduct Authority which regulates UK financial firms. SpotFN, however, is not among them. You can check the register for yourself if you wish here:
http://www.fsa.gov.uk/register/firmSearchForm.do
They did register with Companies House, the government agency that keeps the annual business filings and annual tax returns in the UK back in 2014. The company, however has not been compliant with UK regulations and is in good standing. It's accounts are overdue, and it's proposed that they be stricken off of the government's register.
Although, according to Companies House, you can find them care of Zyatech International at Tower 42 International Financial Centre, 25
Old Broad Street, London,that's a massive office building and an insufficient address at which there are literally hundreds of tenants.
The website itself doesn't give any address and the WHOIS information provided by the website registrant is private. The company is using a private proxy service to hide the name and actual location of the business.
Another tip off that this is just a scam s the fact that you are getting other calls from people wanting to pay you if you pay them to go after them. That's a typical advance fee follow up to an advance fee fraud, so you were very wise not to pay them.
There are legitimate recovery firms but they work on a percentage of what they recover for you. They don't take money up front. That's how you know that the people who have contacted you to get your money back from SpotFn are all part of the same team of scammers.
Report the fraud to your police, to the FBI at IC3.gov to Action Fraud in the UK at Actionfraud.police.UK to the FCA in the UK at FCA.org.uk so that they warn others and to the Federal Trade Commission in the US, at FTC.gov.
If you can find these people you can sue them, but finding them is going to be a job for law enforcement.