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(Courtesy Manitoba Securities Commission) The overwhelming majority of binary options sites are rigged to lure in victims with small early returns, the CSA says. But in many instances, no actual trading occurs with any money the scammers receive, and the entire interaction takes place for the purpose of stealing money. That's exactly what happened to Edmonton business owner Fred Turbide, his son Tomas Ferreira told CBC's On The Money in an interview Thursday.
Tomas Ferreira's dad lost his life savings and his life to a binary options scam.