Operating with fake addresses, fake phone numbers and no registered company name, fraudsters are good at covering their tracks. Just the other week, yours truly went to the registered ‘office’ of one such firm only to find there was nothing there - oy vey.
That’s why it is extremely gratifying to see the City of London police announcing that they have jailed the owner of TB Options. Lee Denton, a 33-year old from Oxted, a town just outside of London, was sentenced to four and a half years behind bars last friday.
Denton, who resembles an Essex version of Mr Potato Head, was convicted of Money Laundering. Police reports suggest he defrauded his victims out of £475,000 ($614,800).
TB Options - a phoney broker with a real address
Unlike many of his fellow scammers, Denton actually went some way to give his company an aura of legitimacy. In late 2015, he registered TB Options at Companies House, later giving the company an address on Cheapside, a busy street in the heart of London’s financial district.
This whole address business may have actually meant Denton was, to quote a Danish prince, “hoist by his own petard.” This is because the first address he registered the business under was - get ready for this - his home address. No Holmesian deduction needed on the part of the City of London Police to figure out who the culprit might be then.
Once he’d set up his phony business, Denton then proceeded to cold call his victims in order to get them started in the world of binary options. Said victims were told that they had to deposit a minimum of £5000 ($6471.61) to start trading.
After they had deposited that cash, no trading ever took place. Instead, Denton would withdraw the money from various cash machines and bank branches. The police estimate that he withdrew £192,000 in cash with thousands being spent in bars, restaurants, high end hotels and on designer goods.
The police close in
When victims of the scam asked to get their cash back, they were told that they had to stay with the firm for 12 months before they could withdraw funds. Needless to say, none of them were told this before they deposited their money in the first place.
As complaints against the site began to mount, TB Options ceased all contact with its victims. Eventually the scam website was taken down and the company’s phone line was disconnected.
Of course, it didn’t take long for the boys down at Scotland Yard to get on Denton’s case. The police’s Fraud Squad, having found his home address on Companies House, used all the means at their disposal to find where he lived on Google Maps. Soon afterwards they were crashing through his front door and cuffing him.
Kudos to the police for getting this reprobate off of London’s streets. We can only hope that more such arrests take place in the near future.
Operating with fake addresses, fake phone numbers and no registered company name, fraudsters are good at covering their tracks. Just the other week, yours truly went to the registered ‘office’ of one such firm only to find there was nothing there - oy vey.
That’s why it is extremely gratifying to see the City of London police announcing that they have jailed the owner of TB Options. Lee Denton, a 33-year old from Oxted, a town just outside of London, was sentenced to four and a half years behind bars last friday.
Denton, who resembles an Essex version of Mr Potato Head, was convicted of Money Laundering. Police reports suggest he defrauded his victims out of £475,000 ($614,800).
TB Options - a phoney broker with a real address
Unlike many of his fellow scammers, Denton actually went some way to give his company an aura of legitimacy. In late 2015, he registered TB Options at Companies House, later giving the company an address on Cheapside, a busy street in the heart of London’s financial district.
This whole address business may have actually meant Denton was, to quote a Danish prince, “hoist by his own petard.” This is because the first address he registered the business under was - get ready for this - his home address. No Holmesian deduction needed on the part of the City of London Police to figure out who the culprit might be then.
Once he’d set up his phony business, Denton then proceeded to cold call his victims in order to get them started in the world of binary options. Said victims were told that they had to deposit a minimum of £5000 ($6471.61) to start trading.
After they had deposited that cash, no trading ever took place. Instead, Denton would withdraw the money from various cash machines and bank branches. The police estimate that he withdrew £192,000 in cash with thousands being spent in bars, restaurants, high end hotels and on designer goods.
The police close in
When victims of the scam asked to get their cash back, they were told that they had to stay with the firm for 12 months before they could withdraw funds. Needless to say, none of them were told this before they deposited their money in the first place.
As complaints against the site began to mount, TB Options ceased all contact with its victims. Eventually the scam website was taken down and the company’s phone line was disconnected.
Of course, it didn’t take long for the boys down at Scotland Yard to get on Denton’s case. The police’s Fraud Squad, having found his home address on Companies House, used all the means at their disposal to find where he lived on Google Maps. Soon afterwards they were crashing through his front door and cuffing him.
Kudos to the police for getting this reprobate off of London’s streets. We can only hope that more such arrests take place in the near future.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!