Options Rider suspend recruitment, lie to affiliates
Short of addressing whatever problems exist with their business model, we’ve pretty much heard every excuse under the sun from MLM underbelly scheme admins.
Usually these are shallow attempts at drawing attention elsewhere from the fraud taking place, which is easily refuted by redirecting the conversation back to said fraud.
Every now and then though, one company will get so caught up in their misdirecion and lies, that their defense turns into a right royal circus.
Options Rider is one of those companies, with a recent email communication sent out to affiliates ripe for the picking.
A recent email sent out by Michael Sloan, who identifies himself by association with Binary Options Concierge.
I have seen Sloan credited as an owner of Options Rider, but was unable to independently verify the information. Options Rider themselves provide no information about company management on their website (a red flag in itself).
In any event, the primary purpose of Sloan’s email is to make Options Rider affiliates aware that new affiliate signups have been suspended.
Due to the surge of new clients, we are temporarily closing new registrations and deposits into the system effective immediately. We will resume new registrations on the 5th of May.
We want to make sure that the clients that we have are taken care of. This will allow us to catch up on pending new accounts and referral fee payments. Please notify all of your prospects immediately.
Seeing as these processes are automated and handled by software, what Sloan is talking about is unclear.
Whatever he’s trying to cover up though, we’ll still give him the benefit of the doubt.
On the other points Sloan brings up in his email? Not so much.
As is typical of MLM underbelly schemes, Sloan and Options Rider are attempting to plant the seed that they are under siege by unnamed “competitors”.
It is under this banner of deception that BehindMLM (misidentified as I am) is called out.
I also want to address the fact that, due to our growth, our competitors will initiate smear campaigns against us. Recently, we had a person who wrote an article about us on a website “behindmlm” by the name of Mikael Thorton that was very negative.
The claims in the article were false.
Naturally the “claims” Sloan refers to are not identified. Good luck in any event, seeing as the entire review is based on Options Rider’s very own compensation plan.
That alone isn’t the lie though, it’s this next part:
Now, our focus is only on Options Rider. I had the pleasure of speaking to Mikael after the incident occurred and he asked me, Michael Sloan, to pay him $5,000 and only then would he remove the article.
Yeah that, that never happened. I’ve never spoken to Sloan or anyone at Options Rider.
I’ve been writing at BehindMLM for over five years now, and I’m certainly not going to sell out my readers for a quick buck.
What you’re looking at there is pure fiction, a poor attempt by Sloan to direct attention from Options Rider’s questionable business model to… well, anywhere really.
But hey, if you’re running an unregistered securities scheme masquerading as a binary options platform, what’s a fabricated claim of extortion between friends?
The second lie Sloan tells affiliates relates to Bob Roberts, and his supposed non-involvement in Options Rider.
Bob Roberts, our CEO, only owns Binary Options Concierge and has no interest in any other binary options platforms and other management services regarding binary options.
Exhibit A, an Options Rider affiliate call hosted by Brian Conley (Connolly?) held in mid-April (before BehindMLM published our Options Rider review).
After explaining his relationship with Tom Carter (credited as a co-owner of Options Rider), Conley explains
[3:19] Now, Thomas, who I said I’ve known for many years, he was the one that was introduced to Bob Roberts.
Roberts is the owner of the software that we’re using in Options Rider.
So Thomas met Bob, Bob started talking about his software and the success that they’d had, and they started putting together the Options Rider concept.
Thomas Carter and Bob Roberts are the only individuals identified as owners on the call, with both credited as having “put together” Options Rider.
Later Carter himself joins Conley on the call.
(Conley) [17:30] I was talking about Thomas Carer moments ago, Thomas is one of my good friends, my mentors, he’s actually the one who introduced me to this, I’ve known him for a long time.
He’s travelling but Thomas, I’m gunna let you step in and start doing some Q&A. But first Thomas, just tell everybody, y’know, when you saw Options Rider, obviously you were just like I was.
I’m an investor, but after a couple of weeks of looking at it you’ve made your time to meet with Bob Roberts and actually buy into the company, so now you’re a part-owner, which is pretty exciting, because I know you don’t want to go to jail.
You’re a great guy and you did your homework. So tell everybody what made you buy-in first and then help me finish up with the questions.
(Carter) [18:14] Brian thank you so much for the great, great, great call, it’s very informative and hit all the points.
But I’m not gunna spend a lot of time on Q&A today. Ladies and gentlemen I wanna bring my business partner, all the way from Shanghai right now, he’s coming onto the call and you guys get a special treat today, I have Mr. Bob Roberts on the line.
[18:45] I apologize, it might be a little garbled but this is my business partner, Bob Roberts, the owner of the software, the owner of Options Rider.
These aren’t my words, this is an official corporate Options Rider affiliate call, with the co-owners of the company on the call itself.
And you’re going to tell me Bob Roberts isn’t involved?!
Yo, you’re full of shit Sloan. Stop lying to your affiliates and address the fact that Options Rider are engaged in the offering of unregistered securities to US citizens.
As per the Options Rider corporate call, Options Rider affiliates invest a minimum of $500, sit back and then collect a passive ROI based on the efforts of others.
The owner of the company is hiding out in Shanghai, China, and you and the rest of the US-based Options Rider affiliates are left holding the bag.
By all means continue to delude yourselves into thinking you aren’t offering unregistered securities, but coming up with false claims of extortion and lying about company ownership to cover your tracks?
That’s pretty low guys, even by MLM underbelly standards.
Update 6th of May 2015 – The lies of Options Rider continue to unravel, with the company’s feigned authorization from the “New Zealand Securities and Exchange Commission” appearing to be completely made up.
BehindMLM reader John Caine spearheaded discussion on the issue, publishing correspondence with New Zealand’s Financial Markets Authority over the matter.
For reference, the following text appears on the Options Rider “Client Agreement”:
The Company is authorized and regulated by the New Zealand Securities and Exchange Commission to offer certain Investment and Ancillary Services and Activities under the Provision of Investment Services, the Exercise of Investment Activities, the Operation of Regulated Markets and Other Related Matters Law of 2007, Law 144(I)/2007, as subsequently amended or replaced from time to time (“the Law”), with FSP license number FSP109805.
FMA told Caine that first and foremost, New Zealand does not have a “Securities and Exchange Commission”. They also clarified that Options Rider
is not registered on the Financial Service Providers Register (FSPR) or regulated as a financial service provider in NZ.
Furthermore ‘the FSP number they have provided is not a correct number or in the correct format.‘
Why might that be?
Well, as it turns out Options Rider just copy and pasted text from an unrelated entity, pertaining to Rodeler Limited being registered as a Cyprus Investment Firm:
Rodeler Limited (“the Company”) is authorised and regulated by the Cyprus Securities and Exchange Commission (“CySEC”) as a Cyprus Investment Firm (“CIF”) to offer the services and activities enlisted herein in this document, under the Provision of Investment Services, the Exercise of Investment Activities, the Operation of Regulated Markets and Other Related Matters Law 144(I)/2007, as subsequently amended from time to time (“the Law”).
As BehindMLM reader Kasey Chang explains on his own blog, all Options Rider did was switch out references to Cyprus with that of New Zealand.
Here’s the really hilarious part though… They claimed to be authorized by New Zealand Securities and Exchange Commission with “FSP License number 207/13”.
The problem is New Zealand does NOT have a Securities and Exchange Commission. New Zealand investments is regulated by Financial Markets Authority. And the cited laws do NOT exist in New Zealand.
It’s even more hilarious when I was able find the actual laws and regulations cited… in an REAL options trading company based in Cyprus (that’s in Europe!).
These scammers didn’t even bother changing the number. Tsk tsk tsk.
Over to you Options Rider. Care to explain anything else you might be lying about?
What’d be really funny is this “Mikael” guy is a conman who con’ed Options Rider. Oh, what irony!
what would be funnier is if the real michael turton, who’s getting blamed for everything oz writes, is Getting Back at Oz!! 🙂
so, in recent history we have tabarsi of SVM , and now sloan of options rider, blaming their inability to work, on behindmlm.
just shining the light on them is enough to make them quake and give up! the behindmlm virus is spreading through the MLM underbelly like a fatal infection!
Thanks for saving my $500! Keep shining the light, my friend!
Got a little article up on how OptionsRider cut-and-paste somebody from Cyprus to make up their fake license.
Thanks for doing the groundwork on that one. Article updated with even more lies from Options Rider.
Got another one for you. In an OLD version of OptionsRider’s agreement… They haven’t even made up that FSP number yet:
On their own website they replaced the CIF number with a made up number, but this obviously predates that.
Checking the NZ FSP website shows no such company as named, and so far all the FSP numbers have only 5 digits (or less). The six digit FSP number is bogus.
Also, the first time you reviewed the company, they had FSP 207/13, Oz. They added that FSPxxxxxx thing recently. Too bad you didn’t keep screenshots from back then.
Ruhroh, looks like Options Rider is running out of funds to pay people out with:
Please Expose Don Le…who is shamelessly promoting this drivel of a Ponzi scheme to an unsuspecting mass of people.
I really don’t know what benefits he receives, but he always seems to be in at the onset of these programs.
He lures people in with his outlandish claims of all the revenue he’s made from these programs and propels people into a frenzy.
My belief is that he connects with these people knowing full well that they’re all Ponzi’s and makes arrangements with these crooks to somehow profit.
Any idea why OR is now requiring people who are investing under $3k to wire transfer to a bank in Bulgaria instead of Australia?
It’s easier to launder funds through EU than AU?
Local banks and authorities are onto him, maybe?
Man, if I didn’t know any better (after reading an email from the KING PONZI PIMP Ken Russo), I would think OR is the best opportunity that has ever come around!
HE NEEDS TO BE BEHIND BARS ASAP! I CAN’T BELIEVE A MORON PONZI PIMP LIKE THIS GETS TO WALK THE SSTREETS!
Just thinking out loud here , But could the May 15 th, $500.00 to $ 3,000.00 minumum investment change be designed to create a last push of new money before they pull the plug on this ?
Bob Roberts is hiding out in China, realistically what are you going to do if he does a runner with your money?
Oz..There;s a group here in florida really pushing this.. No matter what I show them or tell them..well, you know..!!
Their blinded by the money.
I noticed some people asking questions about this over on Tara Talks Blog also.
The sad thing is , i have some really close friends in this , and even with all the proof you guys have laid out , dont people have the common sense realize that no one in the history of mankind wins 88 % of their trades.
sad really that people still fall for this crap !!!!
How do people get involved in this to begin with? Is it all word of mouth, family and friends, etc?
If it was a ponzi I don’t think they would set the minimum to 3k Oz.
They are took away the second level today too so you can quit writing articles about us. We are no longer considered MLM.
How much must be invested doesn’t make something a Ponzi scheme, using newly invested funds to pay off existing investors does.
Sounds like they’re already running out of funds then…
Let’s see if you post this. I just heard that they will closing it off to all new members in a month or two.When that happens will we get a rebuttal from you?
And no their taking away the second level so mlm bloggers like you will quit writing stupid articles like you write.
Why is this so hard to understand?
Closing Options Rider off to new members doesn’t make it any less of a Ponzi scheme, using newly invested funds to pay off existing investors does.
Stop presenting hypotheticals and get back to us when they actually cut off new investment (yeah, right).
Sure they are chief. Exposing scammers lies (as was done in this article) doesn’t make one stupid, investing in their schemes does.
I asked a simple question OZ. Will you do a rebuttal when they close it off to new members?
Rebuttal to what?
If a Ponzi scheme stops taking new investment, when they run out of previously invested funds it collapses.
There’s nothing to rebut, this scam has been a fraud right from the start (BancdeOptions).
Oz you dipshit were investing into managed fund.I don’t see this anywhere in your article. I wonder why lol?
They then take our money and invest it into the currency market.
We don’t need that many ppl so yes they are closing it off in a month or two. I can’t wait for that rebuttal lol.
That’s because it has nothing to do with Options Rider lying to their affiliates.
I covered the “managed fund” crap in the BehindMLM Options Rider review.
Options Rider aren’t registered with the SEC and are engaged in the offering of unregistered securities to US citizens.
After their lies came undone, turns out they aren’t registered anywhere – so they are committing fraud in any jurisdiction with securities laws.
Right. Because we’ve never seen a Ponzi scheme use that excuse to bait a few more investors before collapsing before.
This carrot has been dangled before, it doesn’t end well when the admin does a runner with everyone’s money.
Wake up son, this Ponzi scamming 101 and you’re again being lied to by people who have already been caught out lying time and time again.
Oz the platform we use is registered with the CBOT.
Don’t know who that is and if it’s not the SEC, don’t care.
And let me guess who told you anything is registered with anyone.. the proven liars behind Options Rider?
Last month Options Rider were claiming to be registered with the NZ SEC, which doesn’t even exist (neither the registration nor the agency itself).
But no, by all means continue to believe Options Rider management. They’ve definitely earned your trust.
CBOT – Chicago board of trade, an exchange, it does not license offers of securities or brokers.
A broker registered with CBOT as a member must be already licensed by SEC or FINRA.
It does not matter which “platform” you claim you use and who it was licensed with.
You offer an investment (a security) yourself, therefore you must be licensed do do that and such securities must be registered with SEC.
Nobody cares if “platforms” or “tools” or that your copy of Microsoft Windows is registered while you sell securities.
That means nothing. CBOT is an exchange of futures and commodities. That’s like saying “my broker can trade on NYSE”. Doesn’t prove anything about Options Rider itself.
Ask your upline what access level (a color) does Options Rider have on the CBOT and the badge number. I doubt you’ll get a straight answer.
Sure they would. Did you know how much money MINIMUM did Bernie Madoff require to join up? MILLIONS. TENS OF MILLIONS. You know how they justify this? “They want to know if you are serious.”
Now go look up “loss aversion” and “IKEA effect”.
All I know for sure is that in The US we put money into a managed account.
A managed account does not have to be registered with The SEC. I called a investment firm and confirmed it.
You deposit funds into an account and collect a passive ROI based on the efforts of others.
Options Rider are clearly offering securities and your investment firm buddies are full of shit.
You need to learn about investments and get your mind out of mlm.
Just like a 401k theirs a group of ppl usually about 10 to 15 ppl that decide what to do with your money. They hand your money off to ppl that are registered with the SEC to invest.
Unregistered securities are not limited to the MLM industry sport.
You can provide all of the offtopic examples you want, Options Rider solicit investments from US citizens with advertised ROIs.
They are not registered with the SEC and are therefore engaged in the offering of unregistered securities.
Man Oz is right!! I was in zeek rewards and it was the same thing put a minimum investment in and watch it grow on a daily basis.
This scam is just presented differently using securities as the carrot to legitimize there proprietary market predictor.
Think about it the owner of Options Rider does not need your money if his software pays out a ROI at 88% he could get a loan at the bank or heck even raise a few million from some of his close investment buddies and sit home and watch his own money grow at a return of 88% a day..
Like you Aaron I too so wanted it to be true because of what zeek management was telling us kept me going. I made an investment of $1000 to watch it grow to over $15,000 in 6 months.
Then when it came time to withdraw out the money problems began.
I give this scam about 5 months before people start complaining and more and more negotive reviews begin to come out from affilites who going to be burned.
Get you money back while you still can. If it’s to good to be true it probably is.
The most recent update call (530-881-1399 code 144279#) now states that because USA banks have been “kicking back” attempted wires, OptionsRider will no longer be using the Bulgarian bank and that prospective clients should wait for wiring instructions for a “new bank” that will be forthcoming.
Because of the banking issue and the current problems with customer support and withdrawl backlogs, OptionsRider is pushing back the deadline for minimum deposits to rise from $500 to $3,000 from May 15th to “at least the 25th” … or until “everything is caught up”.
I seriously hope no one is stupid enough to send these common thieves any money.
So Im one of those suckers, so far who put money in back in March, it made sense the way my friend described it until after I put my money in, Thankfully only $500.00.
I didn’t think about it much before putting money in, friend called said he knew a guy who had met the owners in florida, i figured he had investigated it.
So I figured hey might be legit (with no investigating myself – wish I had taken the time to look it up myself online and found this page. (come to find out my friend had some how he didn’t get it that its a scam) But this is Not the only stupid thing i’ve done over the years.
Then after watching it grow I started to do the math and said wait what in the world would they need my money for?
So I put in a withdrawal request in early May .. this was almost 45 days ago.. nope no money yet.
Of course we were all told how everything was going to be caught up this week … so I just get on their “live” chat and ask about my withdrawal, I get no response, after they had greeted me, and then it disconnects me saying were sorry no body is able to assist you right now. LOL I’m guessing even that is automated.
Reminds me of the Book ‘Richest Man in Babylon” where he says fool you lost your money now you must start again, if your going to invest in diamonds do it with a jeweler not a brick maker.
Anyways hope all is well, please do not put any money into OR, do your homework by comparing investments with others like it to see if its a scam and for goodness sake don’t ever put more then like 10% of your available investment moneys into something that sounds to good to be true!
I am sorry that you lost your $500 “BB”. If it’s any consolation, someone identifying themselves as “George” from Tampa Florida has used RipOffReport to recount their similar experience at being ripped off by OptionsRider … except that they have $6,000 missing.
Bob Roberts the owner and co owner in SCAM Thomas Carter and Bryan Conley. Hear it with your own ears.
4 scam calls, Bryan Conley, Thomas Carter, Bob Roberts and Micheal Sloan, Options Rider ran with the money, like i said they would. They are gone.
Sounds like people are getting hung out to dry ?
I invested (more like gambled) $7,500.00 into Options Rider on April 3rd, 2015. It has been a stressful 5 months waiting it out.
The company said 5 months mean that there will be no fees. On 9.3, I put a request to withdraw my money, and again on 9.12 after not hearing back from the site.
The withdrawal instructions say to give it 2-3 business days. It has been more than that. Why would wiring me back the money be a problem if Bob Roberts can earn 80% returns?
My accounts are allegedly at $80,000. I am only asking for my original $7,500 back.
I wrote customer service today, 9.14. IL they pretended to ask for my email address and told me to email “Elizabeth” to follow up. I will keep you all posted.
Well Susan, what happened in the last few weeks?
I guess by now everybody has had their wake-up call and realized we are all victims of a scam.
Thomas Carter and Bryan Conley have pushed this scam . Thomas Cater being one third owner, I have it on tape.
They stall and do not pay after claiming to have brought in over 100 Million dollars. They have no sec license to sale securities to American clients.
This is one big scam. Go report these scam artist to the police. Collect all the pictures and screen shots.
I have all the audio from day one. This is one big Piggy Bank for the Scam Artist. This is Fraud it is not Real.
Where your Options rider money is going into the account of Thomas Carter one third owner, Bob Roberts and Michael Sloan , Here Piggy Piggy.
Filing complaint against Options rider owners and promotors. This is a illegals Ponzi investment Scheme. ic3.gov/default.aspx
Yes, me Bryan Conley, Thomas Carter, Micheal Sloan and Bob Roberts have set up a Piggy bank. When you sent money into Options Rider. You wanted to donate your money to charity.
Our Charity the Piggy Bank so we could enjoy Life. Yes we said it was real but guess what its not. We toke you like the dumb degenerates that you are.
We used God to fool you and our cunning to get that money. You sent it in and now its our.
Try and Get it its gone. By the way be patient the e wallet is coming soon. Ha Ha
email from Bryan Conely
Has anyone gotten the e-wallet? I have sent emails (and asked on the Live Chat) about how to get it but have gotten no response.
This is a report that I’m just now going public with
>>>>FRAUD ALERT: Options Rider, Bob Roberts, Michael Sloan, Bishop Lee, Binary Concierge, Bank DeOptions. Report; This report will show with 100% certainty that these men and these organizations are fraudulent and are to be avoided at all costs.<<<<<<
Options Rider, Bob Roberts, and Michael Sloan have a proven track record of failing to deliver on basic commitments. Furthermore, this report will show that they have lied and have now disappeared with investors money.
On April 27th, 2015, I opened a managed fund account with Options Rider. At the time it was clearly communicated that withdrawals would be processed within 7-10 business days.
Investors were encouraged not to withdrawal funds before 4 months but were told that if they were willing to pay fees that their withdrawal would be processed.
On May 13th, I sent in my first withdrawal request with all of the supporting documents to have the withdrawal processed.
Upon mailing in the request I received an automated email saying,
10 days passed and I never heard from anyone. People in the company were informed that there was a backlog of withdrawals and that it would take a bit longer than usual.
On June 2, I heard that it might be helpful to send in the request again so I emailed the request with the supporting documents. Still nothing.
On June 25th, it was communicated to the field that there was a mix up with documentation and that it was necessary to send in the documents again so, for the 3rd time, I emailed them again. Still nothing.
It was around this time that there were a handful of reports of people receiving their withdrawals which gave me hope. However there was one withdrawal that gave me reason for concern.
The person that shared Options Rider with me emailed in his withdrawal request considerably later than I did. He received his withdrawal and was told that he got his because he was a highly visible person and that they hoped that it would serve to give people confidence.
While this person is a friend that I think highly of, the choice of the company to do that was a bit discomforting.
On July 6th, still no withdrawal. The field is told that the company is setting up an eWallet and that it would greatly speed up the process.
It should take a month maybe two to set it up. I have owned a network marketing company that has paid out 1.5 million dollars to people internationally in 2 years and I know, from experience, that it does not take that long to set up an eWallet.
I emailed both Bob and Michael offering help with referring an eWallet vendor that can be set up quickly. I never heard back from them.
Aug. 3rd. Still no withdrawal. I begin emailing Bob and Michael letting them know that it has now been 12 weeks since the withdrawal and I still have not heard anything.
I emailed them several times and they ignored me. Being frustrated I began to FLOOD them with several emails a day (squeaky wheel gets the grease I figured.)
Aug 6th. Finally I get a response from Bob Roberts. He replied in an email,
15 days pass and my withdrawal is still not processed.
Early Sept. Things are quiet and it is an understatement to say that doubts are filling the field. I again start to bombard them with emails trying all kinds of subject lines to get their attention.
Sept. 15th. After over 100 emails Bob responds,
Can you guess what happened? Nothing.
Oct. 1. The email campaign begins again. At this time the field is being told that the e-Wallet should be set up by Oct.15th. Once again, some may see this as good news but, knowing that it does not take that long to set up an eWallet, this is unsettling for me.
Oct 6th. Bob Roberts replies, "Your payment will be out on Oct 15th from our new e-Wallet system. Please be patient just a little longer.”
It is now Nov. 25h 2015, well over half a year since my request was sent in. At this point no one has received money from an eWallet.
I have not heard of anyone receiving a withdrawal for a LONG time and there has been ZERO communication from anyone at Options Rider.
The last anyone heard from Bob Roberts was a newsletter on the 10th. In that newsletter he said,
We were instructed,
I should point out that every request that I have sent in has been under my corporate name using corporate documents. Having said that, what the heck I’ll send in A FOURTH REQUEST.
Here’s the kicker. Bob announced in the newsletter,
Brazen. Since then we have heard NOTHING.
Over the last week I have sent in no fewer than 100 emails in an attempt to secure this withdrawal with no replies.
Over the last couple of days, I have announced several times through email the following,
The fact that they have not replied to prevent this from happening confirms that they are now GONE.
They still have not replied. Unfortunately, they have simply disappeared.
Unfortunately, anyone that has opened a managed fund with these men or with any of their companies have
lost their money. They have stopped ALL communication. There is no eWallet. There are no withdrawals. They are now on to another project to collect money from other people.
In short; DO NOT TRUST ANY OF THESE MEN.
Unfortunately, I had kept my hope high though after reading John Rodgers comments and all the other information I gathered this Holiday morning, I feel that we have been HAD by these men.
Now that they are not communicating at all, they must be in hiding.
Can the FBI do anything about this? Why do they leave their bogus website up? Is there any recourse?
This is a piece of scam artists copywriting issued 09-02-2016
In paragraph one I read a strategic positive opening tow sentences.This is to make you feel good, to accept the message. But in truth it reads like “victim blaming” about the bank accounts.
In paragraph two I read a lie:
1 The death of Bob Roberts (?)
As well as two methods of escape:
2 suddenly firing Michael Sloan
3 “hold off on withdrawals for the next 8 months”
In paragraph three I read:
An attempt to close the letter with a positive remark so that investors still feel good about OR.
Just a heads up for anyone out there trying to make contact with options Rider – I’m a postal worker in New Zealand and I deliver to the area in which Options Rider claims to be based.
The address they have provided on their site is a fabrication – it is in no way a real address. Any mail that is sent to ‘Level 39 Chancery Plaza’ will be returned to the sender.