Xifra Life-style has been fined $985,820 MXN for securities fraud violations in Mexico.
Xifra Life-style is a 200% ROI Ponzi scheme run by Brazilian nationwide Jonathan Sifuentes (aka Jonathan Yelemian Sifuentes Saucedo).
Xifra Life-style’s regulatory issues in Mexico started final September, with the Nationwide Banking and Securities Fee issuing them a securities fraud warning.
As per the CNBV’s warning, Xifra Life-style, dba Xifra Enterprise Group,
isn’t a Firm approved by the CNBV to advertise the elevating of assets from the general public and, due to this fact, is NOT a part of the Monetary System in Mexico, so it isn’t legally approved to hold out the funding promotion actions that it carries out within the nationwide territory within the mass media.
The CNBV went on to difficulty Xifra Life-style a stop and desist, requiring them to instantly
- cease soliciting funding in Mexico; and
- prompting Xifra Life-style in Mexico.
As an alternative of complying, Xifra Life-style continued to function illegally. Not solely in Mexico however in all places.
Because of this, Xifra Life-style was issued a $975,820 MXN securities fraud tremendous on December eighth, 2021 (~$49,321 USD).
Xifra Life-style did not contest the tremendous, which was made ultimate on January twenty fifth, 2022.
Whereas that was enjoying out Sifuentes was arrested in Mexico in early January.
The fees had been associated to “threats in opposition to cops and tried bribery.”
Sifuentes walked after the Choose dominated info within the lead as much as Sifuentes arrest “couldn’t be verified”. Whether or not the costs had been associated to Mexican authorities cracking down on Xifra Life-style is unclear.
In any occasion, Sifuentes has been laying low since his arrest.
Xifra Life-style continued to unfold, evidently peaking in March earlier than dropping over 35% in visitors month to month in April.
In what seems to be an try and fake Jonathan Sifuentes isn’t working the corporate, Xifra Life-style has been built-in into Decentra.
Replace nineteenth Could 2022 – As a part of my analysis into Xifra Life-style right now, I uncovered Jonathan Sifuentes’ securities fraud troubles within the US.
Sifuentes’ is a respondent of a securities fraud stop and desist software filed by authorities in Arizona.
As on the time of this replace, proceedings are ongoing.