Faith Sloan confirms CashFX Group securities fraud

Serial securities law offender Faith Sloan has confirmed CashFX Group is engaged in securities fraud.

In doing so, she’s also confirmed repeated violation of her 2019 TelexFree final judgment.

Sloan admitted CashFX Group is an investment opportunity in an October 9th Facebook live event.

[10:04] CashFX is a platform where many people have made some money.

It’s not everyone. Y’know when you talk about the investors that are out there, I had a hard time getting quote unquote investors in. It was easier for networkers but for some, not so easy.

The networkers they didn’t like giving up 30%. Let’s say they want to come in for $100,000; they weren’t happy with 30% of that, or $30,000 going into the product, which to this day isn’t there yet.

[10:38] And then another 20% taken out on the withdrawal. When in essence that 200% (return) ends up being about 160%. So that’s about 60% in ten months, right.

So a lot of investors didn’t like that.

At [59:35] Sloan refers to CashFX Group as an “investment deal”.

That CashFX Group is committing securities fraud is not a revelation. BehindMLM pointed out securities fraud in our July 2019
CashFX Group review
.

What makes Sloan’s admission of interest is her 2019 TelexFree final judgment.

As a promoter of the
TelexFree
Ponzi scheme, Sloan was
sued by the SEC
for fraud in 2014.

The case played out for five years, concluding last year in a
$778,455 final judgment
.

As part of the judgment Sloan was prohibited from violating
Section 5 of the Securities Act
.

Under Section 5 of the Securities Act of 1933, all offers and sales of securities must be registered with the SEC or qualify for some exemption from the registration requirements.

As a general rule, MLM companies running passive investment schemes do not qualify for registration exemption.

Neither CashFX Group or owner/operator Huascar Lopez are registered with the SEC. In violation of her TelexFree judgment, Sloan has committed securities fraud by promoting CashFX Group since mid 2019.

If you’re wondering what prompted Sloan to confirm CashFX Group’s securities fraud, it appears two days she was terminated for cross-recruitment. Accounts set up for Sloan’s mother and daughter have also been terminated.

Sloan claims she wasn’t directly informed of the account terminations.

Instead she found out when a message, purportedly circulated in a CashFX Group WhatsApp group a few days ago, was shared with her by CashFX affiliates.

A few weeks back Sloan began promoting
QubitTech
, another passive investment MLM opportunity.

As with CashFX Group, neither QubitTech or CEO Greg Limon are registered with the SEC.

Since Sloan’s TelexFree final judgment was handed, she has and continues to make a mockery of it.

BehindMLM first documented
Sloan continuing to commit securities fraud
through
Cloud Token
, two months after the judgment order was made.

By October 2019 Cloud Token affiliates began experiencing
withdrawal problems
.

Those, like Sloa

🤖 Quick Answer

Who is Faith Sloan and what is her involvement with CashFX Group?

What admission did Faith Sloan make regarding CashFX Group?
Sloan acknowledged CashFX Group operates as an investment platform where participants generate returns. She disclosed structural issues including high commission percentages (30%) and additional fees (20%) deducted from investor capital, while the underlying investment product remained incomplete.

What regulatory violations are indicated by Sloan's statements?
Sloan's public promotion of CashFX Group as an investment opportunity constitutes securities fraud and violates her 2019 TelexFree settlement

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