CashFX Group scammers in Eire are working round telling folks their Ponzi “alleviates homelessness”.
How does a collapsed Ponzi scheme with uncontrolled ROI liabilities assist the homeless?
Beats me.
As reported by John Mooney for the Sunday Instances;
The promoters of an unregulated get-rich-quick cryptocurrency scheme are telling purchasers they’re elevating cash to alleviate homelessness in Eire as a part of a brand new advertising drive.
Mooney cites Declan Dowling because the face of CashFX Group fraud in Eire.
In webinars aimed toward selling CashFX to Irish, European and Australian audiences, Dowling claims he’s utilizing CashFX to “rid Eire of homelessness” by way of his help and involvement within the Homefullness (Eire) Undertaking, which he additionally refers to as HPI.
Whereas it feels like Dowling is perhaps focusing on Eire’s homeless, it’s really the outdated “elevating cash for charity” grift.
Dowling urged folks to put money into CashFX, somewhat than permitting their cash to take a seat in a checking account, so they may assist fund charitable causes.
In one other video, Dowling stated he had earned huge quantities from the scheme.
That’s what it’s actually about. Say something to get new suckers to enroll and make investments so you possibly can proceed to steal cash.
That’s what each MLM Ponzi scheme is de facto about. Serving to the homeless is simply one other, albeit significantly shameful, advertising ruse.
Oh and never surprisingly, Irish authorities have confirmed Homefullness (Eire) Undertaking isn’t a registered charity.
The Central Financial institution of Eire issued a CashFX Group securities fraud warning in July 2021. As of but although, no additional motion has been taken towards scammers like Dowling.
Month on month there’s not a lot occurring CashFX Group. Visits to the Ponzi scheme’s web site are over 1 million a month.
Because of efforts from the likes of Dowling, recruitment of CashFX Group buyers within the UK has exploded over the previous few months.
SimilarWeb at the moment pegs the UK as the highest supply of site visitors to CashFX Group’s web site (24%). Again in February the UK wasn’t even within the prime three.
UK authorities issued a CashFX Group securities fraud warning early on in December 2019.
As a part of an investigation into CashFX Group promoter Jojar Dhinsa in mid 2021, the Monetary Mail’s Tony Hetherington contacted the Monetary Conduct Authority (FCA).
The FCA is the UK’s prime monetary regulator, charged with regulating, amongst different issues, securities fraud within the UK.
When requested why the FCA hadn’t gone after CashFX Group promoters overtly violating UK monetary fraud, Mark Steward, Head of Enforcement, refused to remark.
Not surprisingly, Dhinsa additionally promotes CashFX Group as a way to assist the homeless. Dhina’s grift known as “Impacting a Million Lives”.
I think this what the likes of Dowling have modeled their very own shameless charity advertising efforts on.
Replace 1st June 2022 – Feedback made by Declan Dowling in a CashFX Group interview, counsel his charity grift is an easy tax dodge.
Given Homefullness (Eire) Undertaking isn’t a registered charity in Eire, I’d assume Declan is utilizing different shell corporations to launder cash by way of.
Charities in Eire are regulated by the “Charities Regulator”. When requested, they confirmed to John Mooney that Given Homefullness Undertaking isn’t a registered charity.
Evidently they’re taking cues from the UK’s FCA with respect to lively regulation of fraud.
Replace June ninth 2022 – Inside a couple of days of this text being printed, Declan Dowling’s “my charity is a tax dodge” video above was deleted from YouTube.
I had offered a hyperlink to the video within the replace above. As a result of video being deleted I’ve disabled the hyperlink.