CashFX Group fraud warning issued by Dominican Republic
The Dominican Republic’s Superintendent of Banks has labelled CashFX Group a “fraudulent scheme”.
In a series of tweets published on November 3rd, Superintendent Alejandro Fernandez W. acknowledged Dominican Republic authorities’ awareness of CashFX Group.
There is a fraudulent scheme mounted on crypto assets called “Cash FX Group”.
Authorities in 18 jurisdictions have officially issued warning / caution notes as the scheme has spread globally (from Norway to Australia via Nigeria).
Fortunately, I have not detected local activity of this fraud within Dominican territory, at least after checking their social networks and web traffic according to Alexa.
Being powered by cryptocurrencies, it has no impact on the Dominican banking sector.
The sad and unfortunate thing is that at the head of this more than obviously fraudulent scheme, there are two Dominicans.
I want to think that they are “puppet” leaders and that they themselves are not aware of the scale of fraud that they have incubated since they started promoting “CashFX”.
As a Dominican, I never cease to regret that our talents, our citizens, and therefore the name of the Dominican Republic, is associated with a fraud of a global magnitude such as that of this scheme.
I don’t want to be in the shoes of those two boys.
CashFX Group is run by Huascar Lopez and other Dominican Republic nationals.
Marketing of the company is spearheaded by Justin Halladay and Luigi Bruni, US and Canadian citizens respectively.
Whether Dominican Republic authorities take further action against CashFX Group and its founders remains to be seen.
The Superintendence of Banks is ‘responsible for the supervision and regulation of the banking sector of the Dominican Republic’s financial services industry.’
CashFX Group neither uses Dominican Republic banks (at least not publicly), or recruits investors in the country.
To date nineteen jurisdictions have issued regulatory warnings against CashFX Group; Singapore, Australia, Portugal, Sweden, Ireland, South Africa, the Philippines, Belgium, New Zealand, Jersey, Canada (New Brunswick, Manitoba, Saskatchewan, Quebec and British Columbia), Panama, the Bahamas, Norway and the UK.
At time of publication, Alexa ranks Australia (19%), Nigeria (18%) and the US (10%) as top sources to CashFX Group’s website.
Based on recent social media posts, Lopez, Halladay and other CashFX Group scammers are currently in Italy.
Mr Lopez senior has pipped up on twitter.
Same old strawman. The issue isn’t bitcoin, it’s CashFX Group being a Ponzi scheme.
Can’t wait to see this Ponzi crash!
Justin halladay’s wife has family members promoting cashfx in Guatemala and Miami. Dragged his family into robbing people! Absolute low life
The ravings of a madman / conman –
Middle-aged men shilling algo-generated clipart NFTs.
Surely crypto is approaching peak cringe? (please, I don’t know how much more of this I can take…)
Also has anyone ever seen Ryan Conley and Justin Halladay in the same room at the same time?
But if you buy two bulls you get a free bear. That’s free money. And if you hold a bull or a bear you’re going to get paid … in MATIC.
Some people just don’t understand. Exciting times. Justin is changing lives.
Then you use the MATIC to buy two bulls. And you get a free bear! And if you hold a bull or a bear you get paid … in MATIC.
Then you use the MATIC to buy-congratulations now you’re Jeff Bezoz.
You folks gotta be crazy. I’ve been in CFX for 16 months…I’m on the 100K pack and I’m a manager in the business.
You are fools if you believe this company isn’t real. Shame on all you fake Dominicans for not even looking into the program in support of your brother.
Crabs in a bucket. That’s all that it is.
And by the way, Justin Holladay isn’t leading the charge for market smfh. Geeeesssshhh He doesn’t work for the company. He’s a member just like me.
The Marketing Director is John Kinear with other extremely reparable business people in his camp making a lot of people wealthy.
Something this shitty little blog can’t and ain’t trying to do. Have fun staying poor my friend. You deserve it.
Getting in early and stealing money doesn’t make CashFX Group not a Ponzi scheme.
Nobody is jealous of Ponzi scammers. Thievery, in addition to being illegal, isn’t something to be proud of.
He holds the Master Distributor position. So unless you’re Luigi Bruni, he’s not like you.
And? Every MLM Ponzi scheme has its early group of scammers. That doesn’t legitimize fraud.
Haven’t heard that crypto chestnut in a while.
Your first mistake is thinking people calling you out on your bullshit are in competition with you.
Your second mistake is revealing your shitstain personsolity through wishing ill will on those calling your out on your thievery.
There’s more to life then earning a quick buck on the financial misery of others.
The last days of CashFx.
and they win at cricket (Ausie reference)