Beware of CashFX Group – Review

Canada has issued CashFX Group its sixth securities fraud notice.

On March 28th, the Ontario Securities Commission released the most recent scam alert.

CashFX Group “is not registered in Ontario to participate in the business of trading in securities,” according to the OSC’s notice.

CashFX Group promotes a Ponzi scheme with a 200 percent to 400 percent return on investment. In no jurisdiction is the company registered to offer securities.

Italy, Spain, 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 United Kingdom have all issued securities fraud warnings to CashFX Group.

Huascar Lopez and other Dominican Republic nationals head the CashFX Group.

CashFX Group has been labeled a “fraudulent enterprise” by the Dominican Republic’s Superintendent of Banks. Despite this, authorities in the Dominican Republic have taken no more steps to combat the Ponzi fraud.

Justin Halladay and Luigi Bruni, both nationals of the United States and Canada, are in charge of CashFX Group’s marketing.

CashFX Group has put off its eventual demise into 2021 by delaying and limiting withdrawal requests. These delays are expected to last until 2022.

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