Nearly two years after CashFX Group collapsed, whoever is left working the Ponzi scheme is nonetheless stringing buyers alongside.
The most recent ploy is CFX Legacy, a brand new web site arrange for CashFX Group buyers to log in to.
CFX Legacy has been arrange by Ron Pope and his firm The Conversion Professionals, suggesting Pope is perhaps working 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 buyers acquired an electronic mail from “CFX Company Workforce”.
We’re glad 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 novel long-term enterprise.
We perceive that this transition might deliver some modifications and changes, however relaxation assured that our group 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 variety of recent companies and alternatives to our neighborhood.
For those who already up to date your profile, thanks for the immediate motion, if you’re lacking some particulars or didn’t full the method but, as a way to facilitate this transition, we kindly request that you simply replace your profile with the proper info, together with your date of delivery.
This info is important for regulatory functions and also will allow us to ship debit playing cards to your area.
We encourage you to begin utilizing the brand new URL portal for accessing your again workplace as quickly as doable. It will allow you to handle your online business community, entry academic supplies, and keep up to date on the progress of the transition.
Please notice that the earlier entry to your again workplace within the cashfxgroup.com web site shall be obtainable solely till August 5, 2023. After this date, you’ll need to make use of the brand new url portal to entry your account.
Transferring ahead with the scheduled plan, many members who up to date their info appropriately, have already began receiving debit playing cards, as a way to finalize the method of Section #1.
All accounts presently in our section #1 are included, to obtain debit playing cards upon correct onboarding KYC approval.
Persevering with with our schedule, the buying and selling operations shall be positioned on maintain efficient August 1st, 2023.
We wish to categorical our gratitude on your management and belief throughout this time. Your persistence and cooperation are vastly appreciated as we work in the direction of making a stronger and controlled enterprise mannequin for the good thing about our world neighborhood.
Keep tuned for extra info within the subsequent few days as we proceed to work diligently to give you the perfect options and companies. Collectively, we are going to obtain nice success sooner or later.
Sincerely,
CFX Company Workforce
I can’t say for positive however I believe the explanation CashFX Group has switched domains is as a result of, underneath their authentic area, the Ponzi scheme has acquired at least twenty-three fraud warnings from numerous jurisdictions.
The most recent 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 totally sincere both.
With Lopez out of the image since late 2021, naturally who’s working CashFX Group and CFX Legacy stays an open query.
As of August sixth, CashFX Group’s authentic web site stays on-line on the unique area. Whether or not this may really 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 amazing period of time, years, within the community advertising trade. Each as a frontrunner 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 tasks. We really met by means of the community advertising trade a number of years in the past.
And so, (I’m) very, very excited to be working with him. We’ve been on the lookout for a house run collectively and we really feel with CashFX we’ve discovered that.
With Lopez gone, it appears Pope is now working 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 based mostly internet growth firm”.
As per their respective LinkedIn profiles, Pope and Beck are based mostly 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 maintain you posted.
