7 October, AtoZForex.com, Lagos – The latest news as regards fraudulent dealings in the brokerage sphere is in connection with Base2Trade, the binary options firm linked to Clint Canning, the man alleged to have been responsible for the FX world scam. Leading to Base2Trade website suspended by the city of London police.
Link to FX world
There are suspicions that Clint Canning has embezzled client funds from Base2Trade. This is evident from string of directorate filings in the UK registrar as well as incriminating social media postings. He has also been identified as the culprit behind the demise of FX world. FX world offered currencies-trading services and investment advice. It was operated under a license granted by the U.K. Financial Conduct Authority, which was suspended on June 29, according to the FCA.
Website taken down
The website of Base2Trade has now been taken down by the City of London Police as investigation continues. We understand this step was taken, following a large number of complaints from clients of the firm on Action Fraud, the UK’s national fraud and internet crime reporting website.
A police spokesman is quoted to have said: “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.”
About Clint Canning and Gary Andrews
The same fate which met FX world may await Base2Trade. Information about FX world on its website has been replaced with a note that says the company has gone into liquidation. Before the website was suspended, the site listed Clint Canning as chief executive and Gary Andrews as head of trading.
Before joining the firm, Mr. Canning was an analyst and portfolio manager, according to a biography posted on the FX World website, before it was taken down. Mr. Andrews worked as a currencies trader at a number of banks, including Rabobank, according to his biography that was previously on FX World site.
Mr. Canning's whereabouts remains unknown as the authorities stay on top of the case to uncover the mystery.
Think we missed something? Let us know down in the comments section.