Norway’s Monetary Supervisory Authority (Finanstilsynet) has issued a securities fraud warning towards the CashFX Group Ponzi scheme.
The FSA’s warning was issued manner again on September 4th. I wasn’t conscious of it till a reader reached out.
As per the FSA’s warning;
Finanstilsynet needs to make it clear that Money FX Group isn’t authorised to offer funding companies in Norway, and subsequently lacks the licence required below Norwegian legislation.
Finanstilsynet subsequently recommends buyers to not enter into agreements with or switch property to Money FX Group.
That is the equal of a securities fraud warning in different jurisdictions.
Norway follows the UK, who issued their very own CashFX Group securities fraud warning final December.
As per CashFX Group’s enterprise mannequin, associates make investments funds on the promise of an marketed 200% to 400% ROI.
On the time of publication Alexa ranks the UK (24%), US (13%) and Nigeria (12%), as the highest three sources of site visitors to CashFX Group’s web site.
UK authorities have as of but taken no additional motion towards the corporate. Whether or not US authorities launch a CashFX Group investigation stays to be seen.
CashFX Group is promoted throughout the US by Justin Halladay and Luigi Bruni. Up till lately, serial scammer Religion Sloan was additionally advertising the Ponzi scheme.