Outside a federal courthouse in Houston on Wednesday, dozens of people with signs were demanding help after they claim they were scammed by the company.
HOUSTON — The U.S. Securities and Exchange Commission is investigating a Houston crypto company called CryptoFX, LLC for allegedly running a Ponzi scheme targeting the Latino community.
According to the feds, more than 5,000 people invested in the company and activists said those targeted were mostly Latino immigrants. The company allegedly threatened some of the investors based on their immigration status.
Outside a federal courthouse in Houston on Wednesday, dozens of people with signs were demanding help after they claim they were scammed by the company.
Pedro Cornejo said he is one of the victims. He said he gave leaders with the company $42,000 to invest in cryptocurrency before they ghosted him.
“These families were specifically targeted and were asked for money upfront to invest in cryptocurrency. Unfortunately, like we have seen all over the country, this quickly fell apart,” said FIEL Executive Director Cesar Espinosa.
According to court records, the SEC is investigating the company’s leaders, Mauricio Chavez and Giorgia Benvenuto, along with the company itself.
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