UK authorities investigating the collapsed CashFX Group Ponzi scheme have completed their investigation.

Essex Police have opted to drop the case, owing to there being “no evidence anyone in the UK has committed criminal offenses”.

News of Essex Police investigating CashFX Group broke back in August. At the time Essex Police were
soliciting information from CashFX Group victims
, as part of “Operation Hent”.

As per an email sent out to those same victims earlier this week;

We are aware that a number of people in the UK have invested in the network marketing / MLM scheme, Cash FX and the money invested was paid into the worldwide scheme.

We have completed numerous enquiries and at this time we are not aware, nor is there any prima facie evidence to support allegations that anyone in the UK has committed criminal offenses, however we would suggest that certain ethics within the scheme are questionable, including the business model.

Essex Police’s investigation appears to have been limited to operation of CashFX Group.

The network marketing / MLM scheme is located outside of the UK and the process is cyber enabled, this presents cross bounder [sic] jurisdiction issues.

While it’s true CashFX Group had no physical operations in the UK, when it launched back in 2019, CashFX Group
falsely claimed
it was “regulated by (the) Financial Conduct Authority of London” (FCA).

The FCA would go on to issue a
CashFX Group securities fraud warning
in December 2019. Beyond that, the FCA
categorically refused to investigate CashFX
Group in 2021.

CashFX Group was also openly promoted across the UK by local promoters;
James Curtis
,
Richard Maude
Martin Orena, Donal McCrossan, Emmanuel Kuye, Roy J. Maurice, Lee Oshea, Brian Chittick, Neil Slinn and
Jojar Dhinsa
come to mind.

In the US promoters of Ponzi schemes face civil and criminal wire fraud, securities fraud and money laundering charges.

Speaking of the US, Essex Police suggest they are deferring to US authorities.

We have liaised with international Law Enforcement partners in the US, they have an interest in the working mechanics of the scheme and certain enablers with significant control of the company.

Nothing further with respect to a US investigation into CashFX Group is disclosed. Regardless it appears to be a repeat of OneCoin.

Following their own
criminal investigation
, UK authorities shamelessly announced they were
leaving it up to the US to clean up OneCoin
in 2019.

Even then things haven’t gone smoothly. Recently the UK
refused to extradite two OneCoin money launderers to the US
.

This followed the
seizure and return of £30 million in stolen money
to one of the wanted suspects in 2017.

Opting likewise to turn a blind eye to CashFX Group related fraud in the UK, Essex Police close their email by stating;

Our position in the UK will remain the same unless we receive further information or evidence of criminal offences being committed in the UK.

To the continued detr

🤖 Quick Answer

What was the outcome of the UK investigation into CashFX Group?
Essex Police concluded their investigation into the collapsed CashFX Group Ponzi scheme, determining there was insufficient evidence of criminal offenses committed within the UK. Despite receiving reports from affected investors, authorities found no prima facie evidence supporting allegations against UK-based individuals involved in the scheme.

Why did Essex Police decide to close the CashFX Group case?
Essex Police dropped the investigation due to lack of evidence that anyone in the United Kingdom had committed criminal offenses. Although numerous inquiries were conducted and victim testimonies were gathered during Operation Hent, no actionable evidence emerged to prosecute UK-based perpetrators of the MLM scheme.

How many UK investors were affected by the CashFX Group collapse?
The investigation revealed that numerous people in the UK had invested in CashFX Group's network marketing scheme, with their funds directed into

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