Xifra Lifestyle fined $49,321 for securities fraud in Mexico
Xifra Lifestyle has been fined $985,820 MXN for securities fraud violations in Mexico.
Xifra Lifestyle is a 200% ROI Ponzi scheme run by Brazilian national Jonathan Sifuentes (aka Jonathan Yelemian Sifuentes Saucedo).
Xifra Lifestyle’s regulatory problems in Mexico began last September, with the National Banking and Securities Commission issuing them a securities fraud warning.
As per the CNBV’s warning, Xifra Lifestyle, dba Xifra Business Group,
is not a Company authorized by the CNBV to promote the raising of resources from the public and, therefore, is NOT part of the Financial System in Mexico, so it is not legally authorized to carry out the investment promotion activities that it carries out in the national territory in the mass media.
The CNBV went on to issue Xifra Lifestyle a cease and desist, requiring them to immediately
- stop soliciting investment in Mexico; and
- prompting Xifra Lifestyle in Mexico.
Instead of complying, Xifra Lifestyle continued to operate illegally. Not only in Mexico but everywhere.
As a result, Xifra Lifestyle was issued a $975,820 MXN securities fraud fine on December 8th, 2021 (~$49,321 USD).
Xifra Lifestyle failed to contest the fine, which was made final on January 25th, 2022.
While that was playing out Sifuentes was arrested in Mexico in early January.
The charges were related to “threats against police officers and attempted bribery.”
Sifuentes walked after the Judge ruled facts in the lead up to Sifuentes arrest “could not be verified”. Whether the charges were related to Mexican authorities cracking down on Xifra Lifestyle is unclear.
In any event, Sifuentes has been laying low since his arrest.
Xifra Lifestyle continued to spread, evidently peaking in March before dropping over 35% in traffic month to month in April.
In what appears to be an attempt to pretend Jonathan Sifuentes isn’t running the company, Xifra Lifestyle has been integrated into Decentra.
Update 19th May 2022 – As part of my research into Xifra Lifestyle today, I uncovered Jonathan Sifuentes’ securities fraud troubles in the US.
Sifuentes’ is a respondent of a securities fraud cease and desist application filed by authorities in Arizona.
As at the time of this update, proceedings are ongoing.