CashFX Group securities fraud warning from Spain
CashFX Group has received a securities fraud warning from Spain’s Comision Nacional del Mercado de Valores (CNMV).
As per the CNMV’s December 20th warning, CashFX Group
is not authorised to provide the investment services set out in Article 140 of the Spanish Securities Markets Act, which include(s) investment advice.
This is the equivalent of a securities fraud warning in other jurisdictions.
To date twenty jurisdictions have issued regulatory warnings against CashFX Group; the Dominican Republic, 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.
Throughout 2021 CashFX Group has prolonged its inevitable collapse by delaying and restricting withdrawal requests.
Things came to a head in November, just prior to the holiday shopping season, when CashFX Group disabled withdrawals altogether.
As of early December CashFX Group withdrawals were still disabled.
Around the time withdrawals were disabled, founder and CEO Huascar Lopez stated CashFX Group will be caught up on withdrawal requests by the end of Q4, 2021.
That’s three days away and I believe CashFX Group withdrawals remain disabled.
Alexa traffic analysis reveals a steady decline in visits to CashFX Group’s website over the past few months.
Current top sources of traffic to CashFX Group’s website are Australia (19%), the US (17%) and Nigeria (14%).
I’m surprised this is here as cfx don’t sell investment? No financial products are sold . It’s a training academy .. so my understanding is it does not come under these regulations.
Your understanding is wrong. Or, as I suspect, you’re coming on here to play dumb and toe the pseudo-compliance line.
You dump money into CashFX Group and receive a passive ROI, paid out of subsequently invested funds. You know it. I know it, regulators know it.
Pretending otherwise won’t get you far on here.
Oz – So you bought a training pack and you saw this yourself ?
Strange – I joined buying a small test pack last May – have seen it from the inside . We get regular updates , anyone can visit the HQ , very open system , MLM included for the few that dont want the training or just passive income.
You seem to know far more than me – as several friends have visited the panama HQ , witnessed the trading – producing rewards for members – But it seems because they dont fit with the standard ” investment’ they must be bad?
You don’t need to invest in a Ponzi scheme to identify one.
And a dog and pony show in Panama is not a substitute for registration with financial regulators and filing audited financial reports.
CashFX Group is a Ponzi scheme. You know it and I know it.
This “playing dumb” act might work on your victims but you can drop it here. You’re wasting my time.
Guy rocks up to a report on a securities fraud warning—no, make that twenty warnings from around the world—about a long-running scam, claims it’s not a scam, ’cause reasons.
Yeah, that dog won’t hunt.
Just as you don’t have to see a crocodile “from the inside” to know it is not an ideal place to be, you don’t have to be in cashfx to know it is yet another ponzi.
We are in agreement here.
I’m wondering what solid information you have . (Ozedit: waffle removed)
BehindMLM has 48 articles on CashFX Group full of “solid information”.
Your homework is to read all of them. Every. Single. Word.