Jonathan Yemelian Sifuentes, the founder of Xifra Lifestyle, was detained earlier this week by Mexican law enforcement. He was reportedly apprehended with a group of nine bodyguards, carrying firearms and substantial amounts of cash.
Sifuentes and his associates face allegations of threatening police officers and attempting to bribe officials. However, local court proceedings faltered when authorities could not substantiate the charges. A judge at the Criminal Justice Center dismissed the case, leading to Sifuentes and his group's release. Their present whereabouts are not publicly known.
Mexican authorities indicated a separate inquiry into Xifra and Sifuentes is underway, potentially involving U.S. agencies. Local reports suggest Sifuentes’s case file includes an active investigation by the Arizona Corporation Commission. This U.S. probe is examining allegations of fraud related to a cryptocurrency pyramid scheme.
This situation follows a securities fraud warning issued by Mexico's Comisión Nacional Bancaria y de Valores in September. Despite these actions and alleged fraud in both the U.S. and Mexico, Xifra affiliates maintain the company's operations are legitimate.
A review of Xifra Lifestyle in September 2020 found the company was then claiming George Goodman as its CEO. The business model promoted monthly returns as high as $8,000. Without any evidence of a verifiable external revenue stream, Xifra Lifestyle was identified as a Ponzi scheme. Data from Alexa shows the United States as the primary source of traffic to Xifra Lifestyle’s website, accounting for 21% of visitors.