Jojar Dhinsa has publicly denied scamming individuals by way of the CashFX Group Ponzi scheme.
As shared by Harry Web page from the FaceBook group, “CashFX (in affiliation with EverFX) Rip-off – Now What!?”, Dhinsa appeared on NTV Unscripted on August nineteenth.
NTV markets itself as “the main Bangladeshi TV channel”. It’s broadcast regionally throughout the UK and Europe.
Somewhat than be sincere about selling a Ponzi scheme for revenue, Dhinsa denies he scammed anybody.
So far as being arrested for fraud or scamming individuals, because it says on-line, they’ve simply made issues up.
I want I did rip-off individuals so at the least there’s some proof there.
Sadly for Dhinsa, it doesn’t take a lot to search out the proof he claims doesn’t exist.
After denying he scammed anybody, Dhinsa went on to discuss scamming individuals by way of CashFX Group;
Two years in the past I obtained concerned with a crypto multi-marketing firm, CashFX (Group).
Did a little bit of analysis. I believed I used to be serving to them out, I did assist them out. Made some cash, didn’t actually get entangled that a lot.
Now, trying again in hindsight, shouldn’t have gotten concerned. I don’t endorse them. I don’t encourage individuals to have a look at them.
However do your individual analysis. Do your individual due-diligence. And I did mine … a little bit of slap sprint method. Which is fallacious, it’s not like me.
Dhinsa doesn’t acknowledge his victims, or that CashFX Group is a Ponzi scheme – by way of which the one method to generate profits is to rip-off individuals.
Again when he joined CashFX Group in 2020, and was particularly requested about his due-diligence into the Ponzi scheme, Dhinsa sang a really totally different tune;
So the very first thing that everyone does, and that features me, (is) you go browsing and Google it, and there was a load of stuff about CFX. The fraud alert(s), this that and the opposite.
However you then gotta take a step again and (you) gotta analyze who’s saying these issues. Proper?
Mistaken. Your MLM due-diligence into CashFX Group begins and ends with “this can be a Ponzi scheme that has acquired fraud alerts from all world wide”.
It doesn’t matter who tells you this, as a result of you may confirm and make sure the data your self.
However in fact once more, that is again when Dhina noticed there was cash to steal;
And so they take a look at the posts and there have been individuals saying, y’know, it’s a rip-off, it’s this, a Ponzi scheme, it’s a pyramid scheme.
Nicely, shock, shock, each group on the planet is a pyramid, together with my very own.
This can be a frequent deflection scammers in pyramid schemes use. It’s usually primarily based on a CEO sitting on the high of a pyramid form diagram of administration and workers.
I sit on the high. I’ve obtained a Board of Administrators, administration workforce, HR, HOD, gross sales guys, gross sales reps. So each group, together with the Royal Household right here, even our British Military, is a pyramid scheme. In order that’s not a difficulty.
The analogy fails as a result of it’s the circulation of cash inside a pyramid scheme, and the way the cash is generated, that makes it unlawful.
With respect to CashFX Group, nothing is marketed or offered to retail prospects. Thus the MLM facet of CashFX Group very a lot operates as a pyramid scheme (commissions are paid on recruitment of latest traders, that are funnelled upline to recruiters and the corporate’s homeowners).
For me, the query that I requested myself, was “is it a Ponzi scheme?”, and “How do I be sure that it’s not a Ponzi scheme?”
Cuz I learn the opinions of it’s a Ponzi scheme. Y’know, you don’t generate profits out of Ponzi schemes and yada yada yada.
So I seemed on the opinions. I gave it internally to my guys to have a look at internally. Then I decided to talk to anyone in Panama, who’s most likely in one of many richest households in Panama.
And I stated to Niko, “Would you thoughts going to the workplaces for me and take some photos of every thing?”
And he went … he met individuals there. He stated, “Look, they’re rebuilding the workplaces” … and I then stated, “nice, thanks very a lot.”
We seemed on the again finish of the system, the CRM system. It seems nice.
Dhinsa claims he requested “everybody” who contacted him about his involvement in CashFX Group for proof CashFX Group was a Ponzi scheme.
BehindMLM first printed proof CashFX Group was a Ponzi scheme in July 2019.
Dhinsa doesn’t deal with this proof, or why he ignored it. Ditto the numerous securities fraud warnings CashFX had by then acquired from regulators all world wide.
As a result of for me, popularity is essential.
And it’s that popularity Dhinsa destroyed by becoming a member of, selling and finally profiting CashFX Group.
Dhinsa’s promotion of CashFX Group was notably nefarious. Dhina focused the UK’s homeless, claiming that, by recruiting them into CashFX Group, he needed to “influence 1 million lives”.
Dhinsa’s Ponzi advertising legacy would go on to be emulated by different CashFX Group scammers.
I don’t know precisely when Dhinsa left CashFX Group. He slunk away quietly when the cash dried up.
CashFX Group first started delaying withdrawal funds in early 2020. Delays endured over the following 12 months and a half, culminating in CashFX Group disabling withdrawals in late 2021.
BehindMLM marks this as CashFX Group’s collapse.
Huascar Lopez, founder and CEO of CashFX Group, left the Dominican Republic in late 2021. What started as a trip to Italy has now, retrospectively, emerged because the beginnings of an exit-scam.
Lopez now hasn’t been seen in public for months. His present location and standing are unknown.
