CashFX Group securities fraud warning issued in Ireland
CashFX Group has received a securities fraud warning from the Central Bank of Ireland.
The Central Bank of Ireland is Ireland’s top financial regulator (think SEC in the US).
As per the July 5th warning, the Central Bank of Ireland writes;
It has come to the attention of the Central Bank of Ireland (‘Central Bank’) that Cash FX Group … as been operating as an investment firm/investment business firm in the State in the absence of appropriate authorisations.
It is a criminal offence for an unauthorised firm/person to provide financial services in Ireland that would require an authorisation under the relevant legislation which the Central Bank is the responsible body for enforcing.
This is the equivalent of a securities fraud warning in other jurisdictions.
Whereas securities fraud typically only attracts civil penalties, in Ireland it is a criminal offense.
BehindMLM reviewed CashFX Group in July 2019. Based on its business model we concluded it was a Ponzi scheme.
CashFX Group stopped withdrawals in late May. Affiliate investors continue to go unpaid, with CashFX Group recently threatening anyone who complains with account termination.
Ireland is the fifteenth jurisdiction to issue a securities fraud warning against CashFX Group.
The Central Bank’s warning follows similar regulatory action by South Africa, the Philippines, Belgium, New Zealand, Jersey, Canada (New Brunswick, Manitoba, Saskatchewan, Quebec and British Columbia), Panama, the Bahamas, Norway and the UK.
On information and belief owner Huascar Lopez operates CashFX Group from the Dominican Republic.
To date authorities in the Dominican Republic have failed to take action against Lopez or his co-conspirators.
I got my withdrawal into my BTC wallet two days ago.
It took just over 4 weeks from time of request but payments haven’t stopped since May like your article indicates.
What do you call not getting paid since May then?
Ponzi mental gymnastics = hilarious.
Plenty of people complaining of longer/none. Are you getting paid to advertise you’re getting paid a month later? Sad sad sad.
Payment received in days! You can watch the trade live …. Your article does not correspond to reality.
The reality is CashFX Group is a Ponzi scheme and has received securities fraud notices in fifteen jurisdictions.
Social media videos are proof of dick. They aren’t a substitute for legally required audited financial reports.
Audited financial proof thanks.
Your word carries as much weight as a fluffy unicorn fart.
My withdrawal request was made in June not May, Was just pointing out your article is spreading false information and is incorrect.
I know all the other platforms who pay in bitcoin like this have disappeared and this one hasn’t.
I understand your a bit frustrated by this. Hang in there even a broke clock is right twice a day.
And? Had you of made it in May you wouldn’t have been paid throughout June just like everyone else.
You failed. ProTip: You are not the center of the universe.
Ponzi schemes only stop paying out for one reason.
You can juggle funds around but the collapse is inevitable.
You can stop paying out for months at a time to build up reserves but the collapse is inevitable.
Ponzi schemes are a zero-sum equation. Being an illiterate crypto bro doesn’t change this.
Whatever you have to come up with to cope. I haven’t invested into CashFX Group, don’t give a crap when it collapses.
Will be here to report on the third/fourth/fifth/sixth etc. collapse though.
One other thing:
When you can’t complain about non-payment because your account will be terminated, coming on here to crow about stealing money through CashFX rings hollow.
It’s the end of October, we’re STILL getting paid weekly in CashFX even though payments are over a month behind.
Luckily the company has been very transparent in the reasoning behind this. Plus, this delay only affects people who live off of CashFX money.
I don’t mind waiting a month or more for free money. It’s been over two years, and they are STILL in effect. What a great compmy.
You’re not getting paid weekly if payments are a month behind.
Only one reason a Ponzi scheme stops paying out. You know how this ends.
Great company to steal money from mental deficients such as yourself. Yep.