FIEL:Hundreds of Houston Families get Scammed out of millions right before the holidays

PRESS ADVISORY
FOR IMMEDIATE RELEASE


Contact:

Cesar Espinosa
Executive Director
CELL: 832-512-3733
E-Mail: cespinosa

Alain Cisneros (Español)
Campaigns Coordinator
Cell: 832-503-3689
Email: acisneros

Hundreds of Houston Families get Scammed out of millions right before the holidays

[Houston TX.] On Wednesday Dec 14, 2022 at 10:00am of the Houston Federal Courthouse (515 Rusk Houston, TX 77002) affected families, financial experts and fiel spokespeople will gather to discuss the current case before the SEC in regards to FX Trading and Mauricio Chavez.

To read the complain visit: https://www.sec.gov/litigation/litreleases/2022/lr25547.htm

BACKGROUND: On September 19, 2022, the Securities and Exchange Commission filed an emergency action to stop an ongoing fraudulent and unregistered crypto-asset offering targeting Latino investors, run by defendants Mauricio Chavez and Giorgio Benvenuto through a company that Chavez founded and controlled, CryptoFX, LLC. At the SEC’s request, the Court issued a temporary restraining order halting the offering and temporary orders freezing assets and granting other emergency relief. After a hearing on September 29, 2022, the Court also granted the SEC’s motion for a receiver and extended the asset freeze.

Thousands of those affected live in the Houston area and want to share their story.

First of all, we want to thank the SEC and the FBI for the investigation against Mauricio Chavez, Giorgio Benvenuto, and the company CryptoFX, LLC, for now, it is a CIVIL CASE. The families would like for more open communication with the SEC as they would like to provide more information, so at the end of the day, it can lead to criminal charges not just civil.

They will appear in front of the federal court, where Mauricio Chavez and the others involved have appeared in the future and Judge Hanen was able to hear their cry for justice.

As an immigrant family rights organization, we want to ensure that all authorities understand that it is a pyramid where there are more than two people involved who were representatives of CFX and were given the titles of leaders to defraud families in a massive way. Making a criminal and deceptive practice, promising people profits of 15 percent in which most of the alleged investment they used for their own benefit as evidenced by the civil case of the SEC.

We’d like to invite the SEC to contact us to give these families a clear expectation and explain their rights during this case, we will have meetings in the upcoming days with those affected.

We recommend that the media reviews these attached links, to see the status of the civil case with the SEC.

" We are saddened to have been approached by hundreds of families who have fallen victim in this scam right before the holidays. For the majority of these people any amount of money is simply too much to lose.Many people put up their livelihood in the hopes of making some money for themselves and their families. In recents months we have heard about other similar cases and in this particular case the total loses seem to add up to over $250 million. We are helping these families with the hopes that more people can come forward and we can bring these bad actors to justice."- Cesar Espinosa Executive Director FIEL

FIEL: Immigrant Families and Students in the Fight is an Immigrant Led Civil Rights Organization that advocates for just laws for all families, access to higher education for all people regardless of immigration status, and for the rights of all people in unjust situations.

www.fielhouston.org

Twitter: @FIELHouston


Instagram: @FIELHouston

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