An important development in the case of Base2Trade has come to light today. In August, Finance Magnates revealed that the binary options brand , the operator behind the alleged FX World scam. We can now confirm that the brand’s website has finally been taken down by the the City of London Police’s investigation.
The British authorities told us that they made the move after a great number of clients/victims of the operation turned to complain on Action Fraud, the UK’s national fraud and internet crime reporting website.
An official spokesperson made the following statement to Finance Magnates: “City of London Police is currently investigating Base2Trade, which is a binary options trading company, after receiving approximately 100 allegations of fraud via Action Fraud. As part of its enquiries the City of London Police which is the National Policing Lead for Fraud, has suspended the company website.”
Exposé
Launched in the beginning of 2014, Base2Trade was based in London and registered in Anguilla, the British West Indies. While it was still operational, , inviting clients to “take advantage today” of a “crazy June” offer. However, for some clients who tried to open an account a message popped up informing that the company could not accept UK-based clients.
As we reported before, Clint Canning – the head of the brokerage – may have escaped with millions of embezzled pounds, leaving both employees and service providers at a loss regarding their funds and salaries. Industry sources familiar with the inner workings of Base2Trade have confirmed to Finance Magnates that it ceased all operations months ago due to its owner having fled the UK, perhaps with the missing client money that has lead to the complaints.
During our investigation of the story, we uncovered evidence of additional brokerages which may have been operated by Mr. Canning. Finance Magnates will keep you updated should new information surface. Make sure to read the .
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