The most recent of the laws filed against the company dates from September 1. In this document, the order to cease the investment activity is issued. However, for this Sunday, September 5, the xifrainternacional.com site continues to offer “10% monthly return on the financial markets”. In this way, the corporate regulator warned against setting up an illegal recruitment activity if the promotion of that company is promoted “among pyramid schemes, where returns are guaranteed by investing in these crypto assets with the commitment to connect more people”. According to Article 316 of the Criminal Code, the criminal offence of illegal recruitment is defined when the active entity – in this case the company – collects massive sums (more than 20 persons) without providing a good or service in return. The article states that anyone who massively and habitually develops, promotes, sponsors, incites, finances, collaborates or performs any other act to collect money from the public without authorization can pay a prison sentence of 120 to 240 months. The company also said that transactions or trading involving cryptocurrencies do not currently enjoy legal protection from monetary authorities. Thus, he warned that Xifra is not subject to the company`s inspection and supervision, so it would not be allowed to carry out exclusive activities of these companies. When in July last year, the ± price of Bitcoin was at a similar level to the current one, there were no such liquidity problems and yields were delivered normally. However, Sifuentes hinted that since the beginning of 2022, there has already been talk of changing the company`s image, a decision that is nothing more than putting pressure on some subsidiaries and joining Decenota. Those most affected will be those who have doubled their investment three times, who will not be allowed to make the corresponding withdrawals in the following months, Sifuentes himself reported, adding that instead of charging a fee, they “could be part of Decenta”.
As a company registered in the public commercial register and having the SAPI modality, this does not mean that this commission grants authorization to attract resources from the public or to offer profitable investments, since SAPI is only a modality of the joint-stock company to carry out commercial activities. The authority also warned that the company is also not a fintech institution or fintech and that there is no process related to Xifra to comply with the FinTech Institutions Regulation Act. This is the answer of the financial regulator: they also refer to cryptocurrency in affiliates` sales manuals, where they talk about purchases from exchanges such as Volabit or Bitso (in Mexico), Coinbase in the United States and Binance for the rest of Latin America. Although Sifuentes assured that May payments would be processed before the end of the month, the CEO was able to verify in a group of Xifra members on Facebook that some affiliates have not yet been able to make the payments. However, in order to get commission income faster, it is necessary to increase by©recruiting more people. Indeed, Xifra does not invest more than 60% of the capital of each subsidiary it receives for each license sold. Both the suspension of activities and the fine seem questionable. The company did not comment on its website or social media. Amid the scandals, Xifra, a multi-tiered program founded in 2015, will change its name to Decenta.
Zapopan-based Jalisco has turned on red lights after announcing it will prevent investors from withdrawing their money by September while it completes its migration. In the sales documents mentioned above, they mention the tiered system and methods to attract new investors with examples such as: “Laura, for a few days I thought about you: in this investment model in which you make money without selling”. During the virtual meeting, Sifuentes attributed the postponement of payments to the wrong time the cryptocurrency market is going through. According to him©, Xifra`s debt increases when the price of Bitcoin falls, making it more difficult to deliver the promised returns. These manuals, shared by supporters of the program on Telegram, add things like: “The way to send the money is via Bitcoin, for tax reasons, otherwise you should be withheld 32% or more depending on your tax return or the country you live in.” The approach is failing for them, because in recent weeks there has been turbulence in the financial markets. © How interesting it is that if there are gains, they do not share, but if there are losses, we are all affected. Obviously, at the end of this year, it was obvious to many investors that they had fallen into fraud, but between the penalty©for disappointment and the fact that it is not easy to file a complaint, practically no one has done anything, besides, the amounts are not so high and the scammers will probably not have reached two thousand, to which is added. that they were geographically dispersed and that`s what these scammers are betting on.
Each geographical region was controlled by a group of multi-level scammers who paid some kind of franchise for the brand and the sites that allegedly showed the cryptocurrencies, also gave them the right to invite someone from the global company, at that time they invited Ante Kelava, who, by the way, covered up and then sued CoinSpace. Peñuñuris are usually very non-technical, but specialize in multi-level sales based on ambitious concepts and self-improvement. The waters are clearing for those who have set foot on Xifra: the organization does not really base its investment model on instruments committed to the cannabis, health and wellness industry as originally promised. When we tried to get into Xifra, he threw us a message in our survey warning that the registration could not be done without a partner or reference, as shown in the screenshot below: September 6th. Mexico`s National Banking and Securities Commission (CNBV), Mexico`s banking and exchange authority, ordered Xifra Business Group, a company allegedly managing investments, to suspend public fundraising and not to hold itself out as a mutual fund because it is not part of the financial system. With the advent of the COVID-19 pandemic©, the number of companies using these systems has also increased, which has particularly hurt people who know nothing about investing. According to the returns Xifra promises on social media, people can more than double their investments in a year, which could make it similar to how the Ponzi scheme works, which promises excessively high returns – to make them attractive – based not on investment, but on the resources of new investors.
