CashFX Group has obtained a securities fraud warning from the Financial Authority of Singapore (MAS).
MAS is Singapore’s SEC equal.
On June eleventh MAS added CashFX Group to its investor alert checklist:
MAS classifies CashFX Group as an “unregulated particular person”,
who primarily based on data obtained by MAS, could have been wrongly perceived as being licensed or regulated by MAS.
In different phrases CashFX Group will not be registered with MAS, that means it’s providing unregistered securities in Singapore.
MAS’ warning is the equal of a securities fraud discover in different jurisdictions.
Singapore is the nineteenth jurisdiction to difficulty a securities fraud warning towards CashFX Group.
MAS’ warning follows related regulatory motion by Australia, Portugal, Sweden, Eire, South Africa, the Philippines, Belgium, New Zealand, Jersey, Canada (New Brunswick, Manitoba, Saskatchewan, Quebec and British Columbia), Panama, the Bahamas, Norway and the UK.
Huascar Lopez operates CashFX Group from the Dominican Republic.
It’s famous CashFX Group not too long ago introduced it had opened up a head workplace in Panama.
Site visitors to CashFX Group’s is in decline. Alexa’s ranked prime sources of site visitors are Nigeria (22%), Australia (21%) and the US (14%).
So far authorities within the US and Nigeria, in addition to the Dominican Republic and Panama, have did not take motion towards Lopez or his co-conspirators.