Patricia Ibarra Duped in Latest Crypto Scam: Loses $27,000
• Patricia Ibarra is the latest victim of a crypto scam, losing as much as $27,000 to Crypto FX LLC.
• The firm specifically targeted members of the Latino community in Chicago, Glendale Heights, and Addison.
• Mauricio Chavez – one of the people behind the company – was charged by the SEC with violating antifraud provisions.
Patricia Ibarra is Victim of Crypto Scam
Patricia Ibarra is the most recent victim of a crypto scam. She lost as much as $27,000 to the firm called Crypto FX LLC which specifically targeted members of the Latino community in Illinois alone. Mauricio Chavez, one of the people behind this company was charged by Securities and Exchange Commission (SEC) for violating antifraud provisions.
Crypto FX Was Created Three Years Ago
Crypto FX was created three years ago in 2020 and it hosted several classes for the Latino community so they could learn about crypto and understand proper investment strategies. Students were charged anywhere between $499 and $1,499 for these classes. Chavez had no merit in financial education but he made false claims that his courses birthed several millionaires.
Getting Other People Involved
Ibarra got some of her own friends and family involved in this scheme which means she feels guilty along with anger for being duped. Her son initially warned her about this platform but after talking to several friends she gave in and invested after six months despite knowing it might be a scam.
Association for Justice Against CFX
Several people have fallen victim to this company including 7,000 individuals from Illinois alone which gathered at an event organized by Association for Justice Against CFX demanding their money back from Mauricio Chavez who was running this fraudulent venture without any license or degree related to finance or investments sector.
The Saddest Part Is Unconsciously We Hurt Our Own Families
Ibarra discussed getting her friends and families involved saying “The saddest part is unconsciously we hurt our own families” They thought this was a blessing, a great opportunity to continue forward but instead they were scammed out their hard earned money