You got scammed, but ... most probably also BG got scammed.
That might sound harsh, but please let me try to explain.. I don't know the full story behind this purchase, but anyways..
1. The light itself
The model you purchased doesn't look like a real Ultrafire. Yes, there is such thing as a real Ultrafire - check ultrafire-shop.net for real ones.
The light may be branded as Ultrafire, but that doesn't tell us anything. Most "no-name" lights are Ultrafire branded, and those are sold "everywhere". See the list here.
You would be better off by either knowing what you are purchasing, or gaining the knowledge by asking questions (here at BLF).
..which brings me to the next topic..
2. Recommendation (or lack of)
That model might be frequently recommended on some other forums, but I don't recall anyone really recommending that light here.
We (= the BLF community) buy and test all kinds of lights, but we won't necessarily write of all the mediocre lights. If the light is good (for the price paid), it gets recommendations => buy those lights and be happy. If a light is plain bad, we might warn you - but please don't count on that!
3. Banggood's position
As I said in #1, the light is not an Ultrafire. But on the other hand, it's a quite popular cheap light => BG wants to sell it.
However, BG buys in those cheap lights based on price (and only price) => the light may on this week come from factory A and on the next week from factory B, both writing "Ultrafire" to the body tube. Any of the factories may change subcontractor or just decide to go for cheaper (fake) emitter without telling BG. Most probably BG didn't even know about the LB emitter before this incident.
[Note: Branded lights are a whole different story]
4. Is Banggood good or bad?
So far, based on my experience, BG has been a good place to shop. Or shall we say "from the better end of the spectrum" of all Chinese shops. But then again, I do a lot of research before making any purchase. [Occasionally I buy something cheap just for fun - but I don't complain if I get burned in those cases..]
A mistake (as described in #3) may happen to any shop. In the end, the reputation of a shop will be defined by the way it handles situations like this.