Binary Brokers Tried to Ruin Marisha Young, But She Fought Back
Marisha Young’s nightmare binary brokers story began with a mere $250 and escalated into a $380,000 ordeal. It all began on a non-descript day in November 2015, when Marisha received an enticing email advertising a new investment opportunity with something called binary options. For such a low amount Marisha didn’t feel like it would hurt to try.
A few days after Ms. Young began trading she received a call from a broker from Binary Book, the binary options broker Marisha had begun trading with. Introducing himself as Sam Rosen, this broker convinced Marisha to invest a further $30,000 and promised to help earn her thousands of dollars.
The Lies Continued to Pile Up
Marisha stayed in contact regularly with Mr. Rosen as her account seemed to gain so-called profits. But then she was transferred to another account manager, James Evan, a broker who worked in a more aggressive department, who sweet-talked Marisha into depositing an additional $150,000, which she did on condition that the money be returned to her IRA within 60 days because it was tax season. Unfortunately, the story worsens, with a series of false promises and the money was not returned to Ms. Young in time.
Marisha remembers that around the time of the Brexit, June/July 2016, she requested her money to be returned, and James claimed that her money was now invested with a hedge fund and could not be released in the short term. To those familiar with the binary options industry this tale is not new, in fact, it is typical binary broker behavior, who by any means necessary will stall their clients.
Down and Out, But Not Ready to Give Up
Ms. Young was informed on Halloween 2016 that she was being assigned a new broker, her third with Binary Book, Michael King. She was fed an elaborate story about Evan James’ whereabouts, being told that he had suffered two massive heart attacks and had died two days prior. Mr. King explained that he was now in charge of her account. The lies continued: Mr. King told Marisha that she had lost her investment as her money and profits were traded speculatively.
Marisha was left desperate. She had to borrow money from friends and family as well as sell her furniture to the Salvation Army to get her hands on some extra cash. With staggering debt, Marisha felt hopeless and didn’t know who to turn to. But there was light at the end of the tunnel. With the help of an investigator and lawyer, Marisha was able to take legal recourse to gain her money back.
Gathering evidence including all correspondence, such as telephone recordings and emails, her investigator helped her uncover the true identities of the brokers and company owners. In fact, it was found that “Evan James” was far from dead.
Fighting Binary Options Brokers with All Her Might
Marisha’s next blessing was approaching Veronica Birman of Birman Law. Understanding that Marisha was beyond broke, Ms. Birman agreed to only charge Marisha a small upfront fee. Ms. Birman’s immense experience with asset recovery with binary options enabled her to fight Marisha’s case and recover her entire $380,000 of deposits made with Binary Book.
Veronica worked tirelessly, making use of her network of colleagues as well as strategizing with international attorneys to help Marisha recover her funds. Ms. Birman negotiated a settlement with Binary Book.
Ms. Birman explains: “An out of court settlement is usually in the victim’s best interest. Taking a case to court can often times jeopardize the client’s chances of recovering their funds.” She clarifies “The goal should always be in the interest of the client, not the publicity of the attorney. Sometimes, professionals forget their place.” Birman Law has already successfully recovered millions of dollars for victims of binary options brokers. They continue to work daily to bring these criminals to justice.