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
PROTEST ON THE ONE YEAR ANNIVERSARY OF LARGE CRYPTOCURRENCY SCAM. WE NEED JUSTICE
[HOUSTON, TX]On Tuesday September 19, 2023 at 11:000am at Norma Chavez’s property (We will meet at 10239 Tiger Trail Houston, TX 77080 and will march to Norma Chavez House) CFX victims and FIEL spokespeople quill gather to commemorate 1 year of waiting for justice on this case. Victims and FIEL spokespeople will be available for comment.
A year ago the SEC’s intervention began in the pseudo investment agency led by Mauricio Chavez called CFX. He began to scam Latino people in 2021, mostly people who do not speak English in a pyramid ponzi scheme where the only winners of the supposed investments were the leaders.
Together with his family Mauricio Chavez, with special help from Norma Chavez, collected more than 300 million in an abysmal amount of 40,000 contracts in 26 states within the United States and in more than 8 countries. FIEL believes that it is the largest pyramid fraud against immigrants, who speak Spanish in the history of the United States. The majority of people are immigrants who were convinced by false narratives to trust their life savings so that Mauricio Chavez and his family could have a life of excess at the expense of other people.
Norma Chávez has remained without showing her face to the affected families and on the anniversary of the knowledge of the scam, dozens of people are protesting in front of her residence where she also runs other businesses. It is time that Norma Chávez steps forward and cooperates with the authorities in a significant way so that with her testimony she can speed up the process of recovering money and put her nephew Mauricio Chávez in his rightful place behind bars in federal prison.
In Court documents you can find about Norma Chavez’s participation in CFX:
Securities And Exchange Commission v. United States. Chavez
Docket Number: 4:22-cv-03359
Deposition of Maria Saravia “Lolys”
Norma was one of the managers in charge of the office and financial operations
Norma was the one that dictated the rules of CFX in handling money
She was in charge of customer care for the “Corporate”
Norma is the sole counter of CFX
Norma works every day Monday through Friday at CFX
CryptoFX had an accounting group managed by Norma Chavez, who I understand to be Defendant Chavez’s aunt. The company did not have a centralized accounting system. Records show that the accounting personnel recorded investments, payments made to leaders as commissions or bonuses, as well as payments of returns on the contracts on Excel spreadsheets stored in the CryptoFX Google Drive.
The out-of-state leaders brought the cash to Houston themselves or Chavez would send his driver, Man L. Wong (also known as "Chino") to pick up the cash. The out-of-state leaders also used the Leader spreadsheets provided to them by the Houston accounting team to record CryptoFX investor and sponsor transactions.
The Receiver has also described with particularity the business records that reside in the CryptopFX Google Drive. These include accounting documents such as “Daily Reports,” “Leaders Summary Balances,” and Elite Bonus documents prepared by Norma Chavez and other members of the CryptoFX accounting team. The Drive also stores the Leaders spreadsheets used by Chavez, J. Gonzalez, J. Taffinder, and Leaders, including I. Sanchez, G. Ochoa, R. Zavala, G. Longoria, G. Castaneda, F. De Maria Millan, R. Guifarro, R. Gomez, E. Escoto, R. Teran, S. Kings, J. Segura, S. Aguado, C. Bustamante, and others.
Houston Texas SEC VS CASO CFX Mauricio Chavez Securities And Exchange Commission v. Chavez
Docket Number: 4:22-cv-03359
" For many people they have invested their entire livelihoods into this lie. Now a year later many people in our community and around the country are still suffering the fall out while Mauricio Chavez and his culperates sit comfortably at home. Today we are here to Demand that Norma Chavez come forward and helps so that there is a faster resolution in this case. We must continue to push for expedience, we must continue to push for justice." Cesar Espinosa FIEL Executive Director
WE WANT YOU TO BE ABLE TO LET YOUR AFFILIATES IN THE CITY OF CHICAGO KNOW THAT THERE WILL BE PEOPLE AFFECTED BY CFX, MAURICIO CHÁVEZ AND THEIR LEADERS, DEMONSTRATING OUTSIDE THE SEC at 11:00 AM 175 W. Jackson Boulevard, Suite 1450
Chicago, IL 60604 WILL ASK THE SEC TO INVESTIGATE LOCAL LEADERS WHO WERE PART OF THE FRAUD AND CONFISCATE ANY BELONGINGS THEY MADE WITH THE MONEY THEY OBTAINED THROUGH CFX.
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FIEL: Immigrant Families and Students in the Struggle 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.
Twitter: @FIELHouston
Instagram: @FIELHouston
Facebook: facebook.com/fielhou
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FIEL Houston 