New Brunswick’s Financial and Consumer Services Commissions has issued a securities fraud warning against CashFX Group.
As per a warning issued on February 1st, the FCNB state they
recently became aware that Cash Forex Group (CFX) may have been marketing and selling their products and services to New Brunswickers.
CFX is not registered to trade in, or advise on, securities or derivatives in New Brunswick.
Firms must be registered in New Brunswick to trade or advise in FOREX, otherwise they are in breach of the province’s securities laws.
CashFX Group is not registered to offer securities in any jurisdiction. The company operates illegally the world over.
To date five Canadian provinces have issued securities fraud warnings against CashFX Group; New Brunswick, British Columbia, Quebec, Saskatchewan and Manitoba.
If you’re wondering why so many, it’s likely because CashFX Group top promoter Luigi Bruni resides in Quebec.
Bruni, along with his US partner in crime Justin Halladay, are believed to be the top earners in CashFX Group.
Unfortunately rather than take any action against Bruni and other CashFX Group promoters in Canada, all Canadian authorities have done so far is issue warnings.
In addition to Canadian authorities, Norway, the Bahamas and Panama have also issued CashFX Group securities fraud warnings.