In Tony Hetherington’s recent CashFX Group article for the Financial Mail, he noted;

(CashFX Group)
is based in Panama and tries to give legitimacy by
saying funds are invested through a licensed foreign exchange broker called EverFX
, but the main way people are encouraged to make money is by introducing others.

Hetherington’s article was published on December 12th and appears online for
This Is Money
.

Curiously, if you visit CashFX Group’s website today there’s no mention of EverFX.

In an effort to suss out when CashFX Group removed reference to EverFX from their website, I hit up Google cache.

Unfortunately the cache was last updated on December 13th, by which time CashFX Group had made the change.

Fortunately CashFX Group was incompetent enough to leave mention of EverFX on the non-English versions of their website.

Here’s CashFX Group representing EverFX as their trading broker, as viewed on their website on December 14th:

So why did CashFX Group remove reference to EverFX on their primary language website?

Well, as it turns out the company lied about having EverFX as a broker partner.

When the question of having a business relationship with CashFX Group was put to EverFX, the company
denied
having a “business relationship of any kind”.

Email enquiries reveal EverFX claiming it “doesn’t provide any trading service for CashFX”.

I have to point out here that CashFX Group not having or having a broker is purely academic. The company commits securities fraud by not providing regulators and consumers with audited financial reports.

Said reports would confirm whether trades are actually taking place and, more importantly, whether trading revenue was in fact being used to pay affiliate investors.

Without those legally required reports, whether CashFX Group has a broker or not doesn’t really matter.

That said, it’s still amusing to see a Ponzi scheme caught out in its own web of lies.

Update 16th December 2020 –
CashFX Group has now removed reference to EverFX from its non-English websites.

🤖 Quick Answer

What is the relationship between CashFX Group and EverFX?
CashFX Group, a Panama-based investment scheme, initially claimed that funds were invested through EverFX, a licensed foreign exchange broker, to establish legitimacy. However, following investigative journalism by Tony Hetherington in December, CashFX Group removed all references to EverFX from their website, suggesting the broker connection was being distanced or denied.

Why did CashFX Group remove EverFX references from its website?
After Tony Hetherington's Financial Mail article exposed CashFX Group's operations, which primarily relied on recruiting new members rather than legitimate trading, the organization promptly removed mentions of EverFX. This strategic removal appears designed to distance the scheme from the broker and minimize potential regulatory scrutiny or association with fraudulent investment claims.

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