Xifra Lifestyle securities fraud warning from Colombia
Xifra Lifestyle has received a securities fraud warning from the Financial Superintendence of Colombia.
As per the SFC’s December 16th warning;
The offer of products and services that are typical of the stock market of any firm or platform hosted abroad to residents in the country must have the proper authorization from this control body.
Xifra Lifestyle (does) NOT currently have any authorization to promote their financial products and/or services to residents in the country directly or indirectly and through any means, in particular, those of the stock market.
Xifra Lifestyle pitches a 200% ROI. Up to 2% a day is paid out, purportedly derived via CBD plantation operations.
BehindMLM reviewed Xifra Lifestyle in September 2020.
Based on its business model, we noted securities fraud and concluded Xifra Lifestyle was a Ponzi scheme.
Xifra Lifestyle founder Jonathan Sifuentes was arrested in Mexico last month.
Sifuentes was subsequently released but his current status remains unknown.
In December 2021 BusinessForHome celebrated Sifuentes’ scamming with a MasterClass gig.
Alexa ranks Colombia as the second largest source of traffic to Xifra Lifestyle’s current website domain (30%).
The SFC notes that in 2021 it took regulatory action against twelve individuals promoting fraudulent businesses.
Whether Colombian regulators take action against Xifra Lifestyle distributors remains to be seen.