“Who is Latino who would like to become a millionaire?”
That is how Mauricio Chavez introduces himself to a room full of people, including a group from Chicago, at a meeting in Houston which was posted on YouTube last August.
Chavez is the CEO of a company called CryptoFX, which in recent years has solicited money from people in Latino communities to invest in crypto currency in return for potential riches. “We already have more than 20 people becoming millionaires,” Chavez tells his audience in the video. “Over five thousand people …. literally mak[ing] over $500,000 …. And there are many, many, many, many – literally paying off all their debts.”
That video is now an exhibit in a lawsuit, filed by the U.S. Securities and Exchange Commission last September, accusing CryptoFX of operating as “a Ponzi scheme” which – according to a…
