Welcome to the CryptoFX, LLC Receiver Website
On September 19, 2022, the Securities and Exchange Commission (“SEC”) filed a complaint against Mauricio Chavez, Giorgio Benvenuto, CryptoFX, LLC and CBT Group LLC (the “Defendants”) in the United States District Court for the Southern District of Texas, S.E.C. v. Mauricio Chavez, et al., Case No. 4:22-cv-03359 (SDTX).
Per the SEC’s press release,
On September 19, 2022, the Securities and Exchange Commission filed an emergency action to stop an on-going fraudulent and unregistered crypto asset offering targeting Latino investors, run by defendants Mauricio Chavez and Giorgio Benvenuto through a company Chavez founded and controlled, CryptoFX, LLC. . . . The SEC alleges that Chavez was actually running a Ponzi scheme; rather than use investor funds for crypto trading, Chavez used more than 90% of investor funds to pay fake returns to investors, support his lifestyle, and purchase and develop real estate that he and Benvenuto controlled. For his part, Benvenuto allegedly solicited a large investor into the scheme and diverted investor funds to himself and a company that he and Chavez owned, CBT Group, LLC. In total, the SEC alleges that Chavez and Benvenuto made approximately $2.7 million in Ponzi payments while diverting almost $8 million for their own use, including nearly $1.5 million that Chavez spent on cars, credit card payments, jewelry, adult entertainment, and a house in his wife’s name.
The full SEC press release and Complaint are available on the SEC’s website.
On September 29, 2022, Judge Andrew S. Hanen appointed John Lewis, Jr. as the Receiver for the defendants and relief defendant CBT Group, LLC and froze their assets.
The Receiver’s primary job is to recover money and assets for the benefit of defrauded investors.
The Receiver and his team have secured the primary business location of CryptoFX at 1124 Blalock Rd. in Houston, TX and have shut down its operations.
Our investigation is in the early stages, and we ask for patience as the Receiver and his team complete their initial assessment and secure the receivership assets.
This website will serve as a source of information on the Receiver’s progress and to provide information to harmed investors. We will post additional information as it becomes available as well as create a form to file a claim.
A dedicated phone line (713) 546-5653 and email address [email protected] have been set up to contact the Receiver’s team.