Jonathan Yemelian Sifuentes, the creator of Xifra Lifestyle, was detained by Mexican police earlier this week.
According to CVBJ, who cited local media, Sifuentes was detained.
accompanied by around nine bodyguards, carrying long guns, and carrying hundreds of thousands of Mexican pesos with cash.
MLM is a little different in Mexico, I guess.
Sifuentes and his associates were detained for attempted bribes and threats made against police personnel.
Police filed accusations against Sifuentes and his group, but the case fell apart in court.
Due to the inability to verify both claims, a judge from the Criminal Justice Center threw out the case against the inmates.
Sifuentes and his cronies were freed as a result.
Although their current situation is unknown, Xifra Lifestyle’s website was unavailable at the time of writing.
Mexican officials may be in over their heads, but they have admitted that there is a possible parallel US probe against Xifra and Sifuentes.
Local sources do claim that Yemelian’s file, which contains an investigation that is now active at the Arizona Corporation Commission in the United States for alleged fraud as part of a bitcoin pyramid scheme, was handed over to the authorities throughout the process.
This is in response to a warning about Xifra securities fraud that the Comisión Nacional Bancaria y de Valores of Mexico issued in September.
Despite engaging in securities fraud in the US and Mexico, Xifra affiliates assert that the business is legitimately in operation.
In September 2020, BehindMLM reviewed Xifra Lifestyle. The business at the time pretended to be led by CEO George Goodman.
With its business strategy, Xifra Lifestyle was able to generate market returns of up to $8000 each month.
We determined that Xifra Lifestyle was a Ponzi scheme since there was no independently verified external revenue source.
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