Nearly two years after CashFX Group collapsed, whoever is left operating the Ponzi scheme is nonetheless stringing traders alongside.
The newest ploy is CFX Legacy, a brand new web site arrange for CashFX Group traders to log in to.
CFX Legacy has been arrange by Ron Pope and his firm The Conversion Professionals, suggesting Pope is likely to be operating the present.
Formally CashFX Group was run by Dominican Republic nationwide Huascar Lopez. After the Dominican Republic issued a CashFX Group fraud warning in November 2021, Lopez cashed out and disappeared.
Victims of the Ponzi scheme, suspected of defrauding customers out of a whole bunch of tens of millions of {dollars}, have been strung together with guarantees of a “Section 2 reboot”.
Final I heard CashFX Group’s “Section 2” was some baloney foreign currency trading scheme. As of but although, nothing concrete as materialized.
Seemingly out of the blue, on August 2nd CashFX Group traders obtained an electronic mail from “CFX Company Workforce”.
We’re completely satisfied to announce the presentation of the brand new portal for entry to your Again-office: cfxlegacy.com. Prepared and ready so that you can begin utilizing it.
Since its inception, CFX was created for the wealth and advantage of its members, with the imaginative and prescient of a singular long-term enterprise.
We perceive that this transition might convey some adjustments and changes, however relaxation assured that our workforce is working diligently to make sure a clean and seamless course of for everybody concerned.
As we transfer into Section #2, we’re excited to supply a spread of latest providers and alternatives to our neighborhood.
In the event you already up to date your profile, thanks for the immediate motion, if you’re lacking some particulars or didn’t full the method but, with a purpose to facilitate this transition, we kindly request that you just replace your profile with the right data, together with your date of beginning.
This data is critical for regulatory functions and also will allow us to ship debit playing cards to your area.
We encourage you to start out utilizing the brand new URL portal for accessing your again workplace as quickly as attainable. This may allow you to handle your small business community, entry academic supplies, and keep up to date on the progress of the transition.
Please word that the earlier entry to your again workplace within the cashfxgroup.com web site might be out there solely till August 5, 2023. After this date, you’ll need to make use of the brand new url portal to entry your account.
Shifting ahead with the scheduled plan, many members who up to date their data accurately, have already began receiving debit playing cards, with a purpose to finalize the method of Section #1.
All accounts at present in our part #1 are included, to obtain debit playing cards upon correct onboarding KYC approval.
Persevering with with our schedule, the buying and selling operations might be positioned on maintain efficient August 1st, 2023.
We need to specific our gratitude in your management and belief throughout this time. Your endurance and cooperation are tremendously appreciated as we work in direction of making a stronger and controlled enterprise mannequin for the good thing about our international neighborhood.
Keep tuned for extra data within the subsequent few days as we proceed to work diligently to offer you the most effective options and providers. Collectively, we are going to obtain nice success sooner or later.
Sincerely,
CFX Company Workforce
I can’t say for certain however I think the explanation CashFX Group has switched domains is as a result of, below their unique area, the Ponzi scheme has obtained at least twenty-three fraud warnings from varied jurisdictions.
The newest CashFX Group fraud warning got here from Portugal earlier this 12 months in January. It was the second CashFX Group warning from Portugal, following an preliminary warning in 2021.
In claiming the transfer to a brand new area is for “regulatory functions”, CashFX Group isn’t mendacity however they’re not being fully trustworthy both.
With Lopez out of the image since late 2021, naturally who’s operating CashFX Group and CFX Legacy stays an open query.
As of August sixth, CashFX Group’s unique web site stays on-line on the unique area. Whether or not it will truly be disabled sooner or later or not stays unclear.
CFX Legacy has been arrange on the area “cfxlegacy.com”:
“Cfxlegacy.com” was registered on July twenty seventh, 2023. If we have a look at the source-code, we discover a Terabit framework javascript pull from The Conversion Professionals.
The Conversion Professionals is owned by CEO Ron Pope.
Pope was credited as a co-founder in CashFX Group’s early days. Because the Ponzi scheme took off, Pope retreated into the background with Huascar Lopez taking middle stage.
In CashFX Group’s first company webinar, held on September ninth, 2019, Pope acknowledged;
[0:27] Huascar spent an incredible period of time, years, within the community advertising and marketing business. Each as a pacesetter and now he’s on the company aspect.
Huascar and I’ve been working collectively for a number of years, about eight years now on completely different initiatives. We truly met by way of the community advertising and marketing business a number of years in the past.
And so, (I’m) very, very excited to be working with him. We’ve been searching for a house run collectively and we really feel with CashFX we’ve discovered that.
With Lopez gone, it appears Pope is now operating what’s left of CashFX Group.
If we have a look at the pulled javascript file in query, we see it was created by “Jamie”:
Jamie Beck is CTO of The Coversion Professionals and President of Terabit.
On its web site, Terabit pitches itself as an “Ottawa primarily based internet improvement firm”.
As per their respective LinkedIn profiles, Pope and Beck are primarily based out of Nevada within the US and Ontario, Canada respectively.
Ontario issued a CashFX Group securities fraud warning in March 2022. US authorities have but to take any public motion.
Pending any updates on CashFX Group’s CFX Legacy reboot, we’ll preserve you posted.