The renowned CashFX scam was run by Justin Halladay. He is on the run right now and lives in the Dominican Republic.
His company tricked hundreds or even thousands of people all over the world. It was a Ponzi plan, and in the beginning, there was no information about who owned it or who ran it. The company came out in 2019 and went out of business in 2021.
All this time, Justin Halladay spread the word about the plan and made sure that as many people as possible knew about it.
In 2019, the company said that Huascar Lopez had started the business and was its CEO.
Justin Halladay, on the other hand, was the top investor in the Ponzi scheme.
His leaving the United States was one of the first clear signs that CashFX would fail in 2021.
Alexa says that the United States was the third biggest source of traffic for the scam. But the number was much higher because the company told its customers to hide their IPs by using VPNs.
Justin Halladay has pulled other cons before CashFX. It seems that he used to run Cloud coin, a fake cryptocurrency coin that he used to scam many people with.
Several victim reports and other sources say that Justin and Luigi Bruni may have taken millions of dollars from CashFX Group clients.
But Justin is wrong if he thinks that leaving the US to live in the Dominican Republic will keep US officials from getting a hold of him. Because the US and the Dominican Republic have a deal to send people back and forth.
Criminals and scammers often run away to another country to avoid going to jail. For example, Samir Azizi Dubai was caught by US police while he was trying to get to Dubai. In Europe, the scammer was charged with several crimes.
From the posts he made on social media, we know that he is hiding out in Las Terranas.
How Justin Halladay Scammed People with CashFX Group?
CashFX was started in 2019 by Justin Halladay and Huascar Lopez. The business didn’t sell anything. Instead, it sold both its partner membership and its MLM plan to other companies.
The company said that “Trade Academy Education Packages” were available to people who invested in its affiliates.
Also, the company said that investors could get a 400% return on their money, and the most anyone could get was 15% a week.
This is how it was put together:
| $300 Invested Amount | 300 Package |
| $500 Invested Amount | 500 Package |
| $1000 Invested Amount | 1K Package |
| $2000 Invested Amount | 2K Package |
| $5000 Invested Amount | 5K Package |
| $10,000 Invested Amount | 10K Package |
| $20,000 Invested Amount | 20K Package |
| $30,000 Invested Amount | 30K Package |
| $50,000 Invested Amount | 50K Package |
| $100,000 Invested Amount | 100K Package |
You can see the investment deals you could buy to get their “Affiliate Returns” in the table above.
The company said that its partner returns would give a 200% ROI and that its MLM returns would give a 400% ROI.
The claims that Justin Halladay’s company made were very profitable. The company said that your investment package would end when you made either 200% affiliate returns or 400% MLM commissions.
The company made you buy a new package if you wanted to get another return.
How CashFX works as an MLM?
At CashFX Group, you could reach one of 7 ranks:
| Rank | Requirement |
| Affiliate | Sign up and buy a CashFX package |
| Executive | Maintain a 1K or higher package, recruit and maintain 3 active members and produce 7000 group volume |
| Manager | Maintain a 1K or higher package, recruit and maintain 2 Executive or higher members, produce 25,000 group volume |
| Director | Maintain a 1K or higher package, recruit and maintain 2 Manager or higher members, produce 100,000 group volume |
| President Club | Maintain a 1K or higher package, recruit and maintain 3 Director or higher members, produce 500,000 group volume |
| Ambassador | Maintain a 1K or higher package, recruit and maintain 3 President Club or higher members, produce 2,000,000 group volume |
| Global Ambassador | Maintain a 1K or higher package, recruit and maintain 2 Ambassador or higher members, produce 5,000,000 group volume |
At Justin Halladay’s company, every investment package had a personal volume that was half of its investment need. So, something like this happened:
| 300 Investment Package | 150 Personal Volume |
| 500 Investment Package | 250 Personal Volume |
| 1K Investment Package | 500 Personal Volume |
| 2K Investment Package | 1000 Personal Volume |
| 5K Investment Package | 2500 Personal Volume |
| 10K Investment Package | 5000 Personal Volume |
| 20K Investment Package | 10,000 Personal Volume |
| 30K Investment Package | 15,000 Personal Volume |
| 50K Investment Package | 25,000 Personal Volume |
| 100K Investment Package | 50,000 Personal Volume |
Commission at CashFX
Justin’s company said it would give you a 50% cut of the money made by friends you brought in. You would get 50% of the sales you make for this company on your own. So, if you sold a 1K package, it would make 500 PV and give you $250.
Each level of a pyramid plan is set up so that the person at the top makes the most money. CashFX wasn’t any different.
It had a clear-level framework to make it sound like a good deal.
It’s a pretty typical plan. You start at level 0, and the people you hire would be at level 1 for you. People who sign up through your level 1 agent would be on level 2, and so on.
Almost all MLM scams, like OmegaPro and Yolllo, are set up this way.
In this scam by Justin Halladay, the level-based revenue plan was:
| Rank | Commissions |
| Affiliate | 10% on level 1 – 4 |
| Executive | 10% on level 1 – 4 and 20% on level 5 and 6 |
| Manager | 10% on level 1 – 4, 20% on level 5 & 6, 5% on levels 7 and 8 |
| Director | 10% on level 1 – 4, 20% on levels 5 & 6, 5% on levels 7 – 9 |
| President Club | 10% on level 1 – 4, 20% on levels 5 & 6, 5% on levels 7 – 10, 1% from level 11 |
| Ambassador | 10% on level 1 – 4, 20% on levels 5 & 6, 5% on levels 7 – 10, 1.5% from level 11 |
| Global Ambassador | 10% on level 1 – 4, 20% on levels 7 & 8, 5% on levels 7 – 10 and 2% from level 11 |
How did this scam make Justin Halladay money?
CashFX made a lot of claims about how much money it would give back, but the truth is that it was a Ponzi scheme.
A Ponzi plan is a scam in which money from new investors is used to pay off old investors in a business that doesn’t exist.
CashFX has never made or sold anything on its own. It used the money it got from its new investors to pay its older investors. In the end, it took longer to find people to hire, and the company couldn’t pay its backers.
This is how every Ponzi scam works. This is why you should be very wary of any new business plan that promises returns that are too good to be true.
LyoPay, an online Ponzi scheme that looks like a cryptocurrency business, is a similar scam. Luiz Goes is promoting that scam, and it uses the same methods that Jusin Halladay used to market CashFX.
MLM scams usually work because they take advantage of people who are weak and make false claims to customers. On paper, they make their pay plan look very good and make it seem like the company will never fail.
People end up putting a lot of money into investments in the hopes of getting double or, in this case, four times what they put in. But the results are never that great.
Most of the time, after one or two payments, the company stops paying its owners. Many of the people who put money into the company never get any money back from it. In the next part of this article, you’ll learn how much harm Justin Halladay’s scam has caused.
What do Justin Halladay’s victims have to say about him online?
Justin Halladay and his company have taken money from thousands of clients all over the world over the years. Here are a few of their issues, which will give you an idea of what they went through:
“Absolute Scam”
Andrew says CashFX is a total rip-off. Its “leaders” are already gone and on to the next way to make money. Andrew says that the people in charge of the company were all thieves and that they will have to pay for their actions someday.
People can’t get their money back from Justin Halladay’s company.
In this review, the person says that Justin Halladay’s business is a big scam. The person says that at first, he could get back half of what he had put in. But even though his investment grew by 240%, he couldn’t take any money out.
The critic says that the company is a big scam.
“CashFX is a total rip-off.”
Chuck says that the company is not what it seems to be. He has been waiting for a refund for more than a year, but it hasn’t come yet.
Chuck points out that there’s no way to know when or if there will be more payouts in the future. Chuck says that the company has good ads, but it doesn’t do what it says it will do. Like other CashFX reviews, he says it’s a total scam.
James Halladay’s company didn’t pay out even a penny.
James says that his boss decided that all future bonuses and awards should come from Justin Halladay’s company. James says that it was a terrible thing to do. He decided not to join after he did some study on his own.
Even though James didn’t get a bonus, the rest of the team went along with the plan. None of them got any money.
James makes it clear that he feels sorry for them. He says to stay away from scams that look too good to be true.
The fake reviews of Justin Halladay are called out by a reviewer
Zac tells other users not to read the fake 5-star reviews of CashFX. He says, “Don’t be fooled, this business is a SCAM.”
Zac points out that even though the weekly returns look good on paper, you would never see a single cent. You also wouldn’t be able to take money out. He said that they should leave Justin Halladay’s business.
Another CashFX review that shows how the scam works
Johnny says that a year ago, his friend told him about this company. He heard the sales pitch and said that a trading company could not possibly offer such profits.
The business said that it made 1% per day. They even gave him a sheet of numbers to “prove” that they were making money every day. Justin had done a good job of putting together the company’s marketing pitch.
Johnny said it wasn’t possible because no one can win every day. In answer, the CashFX marketers told him that they do lose every day, but their wins are bigger, so there is always a net gain.
So, Johny put $500 into it to see how it worked. He had to be making money every day until he doubled the amount.
But when he tried to take money out, it never showed up. It showed up as “pending” on CashFX.
Johny feels bad for the people who still fall for this scam. Also, he says that Justin Halladay’s marketing is adding fake reviews to CashFX.
What happened to Justin Halladay?
It looks like Justin has started to start new scams with the money he made from CashFX. He is now advertising himself as the President of JJ3B LLC.
Also, his LinkedIn page doesn’t say anything about him being a part of the well-known CashFX scam.
Instead, he says that he started and is the President of Children 4 Christ. He seems to be selling his new scams by using religion, which is not a good sign.
His online claims say that JJ3B LLC, his new business, is a blockchain company.
Conclusion
Justin Halladay used CashFX to trick people out of a lot of money. The business has been around since 2019 and has been able to steal from thousands of people.
Now, he has fled to the Dominican Republic to get away from US police.
A lot of scam artists use this method to stay out of the hands of the law. For instance, Kalpesh Patel is a scammer who has caused $600 million in losses.
After scamming people in several countries, he ran away to Dubai.
Lee Oakey is another scammer like him. He was in charge of the well-known Ponzi scheme USI Tech.
If CashFX and Justin Halladay have hurt you, please share this story with other people. It would help get the word out about this scammer.
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