Scammers from the CashFX Group are circulating all through Eire, claiming that their Ponzi scheme “alleviates homelessness.”
What good does a defunct Ponzi scheme with out-of-control ROI obligations do for the homeless?
It baffles me.
In keeping with John Mooney of the Sunday Occasions, the promoters of an unregulated get-rich-quick cryptocurrency scheme are telling shoppers that, as a part of a brand new advertising and marketing marketing campaign, they’re elevating cash to alleviate homelessness in Eire.
Declan Dowling, in keeping with Mooney, is the face of CashFX Group fraud in Eire.
Via his help and involvement within the Homefullness (Eire) Mission, which he additionally refers to as HPI, in webinars geared at selling CashFX to Irish, European, and Australian audiences, Dowling claims that he’s utilizing CashFX to “rid Eire of homelessness.”
Whereas it could seem like Dowling is focusing on Eire’s destitute, it is simply the traditional “elevating cash for charity” ruse.
So, Dowling inspired people to put money into CashFX moderately than go away their cash in a checking account in order that it could be used to help charitable organizations. Dowling claimed in one other video that he had made a fortune from the plan.
That’s what all of it boils all the way down to. To entice contemporary suckers to enroll and make investments so you may preserve stealing cash, say something.
That’s the true nature of any MLM Ponzi scheme. Serving to the homeless is simply one other disgusting advertising and marketing ploy.
Oh, and Irish officers have confirmed that the Homefullness (Eire) Mission is just not a registered charity, which is unsurprising. In July 2021, the Central Financial institution of Eire issued a securities fraud discover for CashFX Group. As of but, there was no extra motion taken towards scammers like Dowling.
At CashFX Group, there is not a lot occurring month to month. The Ponzi scheme’s web site receives over 1 million month-to-month visits.
The recruitment of CashFX Group traders within the UK has elevated in latest months because of efforts by folks like Dowling.
The UK is now the main supply of visitors for CashFX Group’s web site, in keeping with SimilarWeb (24 p.c). The UK was not even among the many prime three in February.
Early in December 2019, UK regulators issued a securities fraud discover for CashFX Group.
Tony Hetherington of the Monetary Mail contacted the Monetary Conduct Authority in mid-2021 as a part of an inquiry into CashFX Group promoter Jojar Dhinsa (FCA).
The FCA is the UK’s main monetary regulator and is in command of policing securities fraud, amongst different issues.
Mark Steward, Head of Enforcement, refused to reply when requested why the FCA hadn’t gone towards CashFX Group promoters who had been overtly violating UK monetary fraud legal guidelines.
Dhinsa additionally promotes CashFX Group as a manner to assist the homeless, which is unsurprising. “Impacting a Million Lives” is the title of Dhina’s ruse.
I am guessing that is how Dowling and others have modeled their very own unscrupulous charity advertising and marketing campaigns. It was final up to date on June 1, 2022.
Declan Dowling’s feedback in a CashFX Group interview reveal that his charity scheme is merely a tax evasion. Provided that the Homefullness (Eire) Mission is not a registered charity in Eire, I am guessing Declan is laundering cash by different shell firms.
The “Charities Regulator” regulates charities in Eire. They informed John Mooney that the Given Homefullness Mission wasn’t a registered charity when he requested. They seem like taking cues from the FCA in the UK in relation to aggressive fraud regulation.