Raja Riaz, a career con artist, operates the multi-level marketing ponzi business known as CashWorth.
Because of his participation in the well-known con B4U Global, he was subjected to a great deal of unfavorable attention in the past. However, this did not prevent him from initiating more pyramid schemes including multi-level marketing.
Be sure to read this review before investing in CashWorth if you are considering making a purchase from them. It will help you understand why you should steer clear of making any investments in this potentially fraudulent scheme.
I’m going to go through all of the warning signs that are there in this plan since there are a lot of them.
But before we get into that, let’s start by examining the promises made by this company and figuring out how they attract investors:
What is CashWorth stand for?
To put it simply, your net worth is equal to the value of all of your assets. Your net worth is equal to the difference between your whole net financial income and your total net financial expenses. When all of Zaviera Maxwell’s professional assets are taken into consideration, the sum total of her professional assets is equivalent to her net worth.
If you’ve been hearing a lot about Zaviera Maxwell lately, you might be interested in learning how much money she has in the bank. On our website, you will find all that you require regardless of the circumstances that surround your inquiry.
It is currently unknown how much money Zaviera Maxwell has in the bank, however, it is anticipated that her father will have somewhere in the neighborhood of $8 million by the year 2021. Every year, he brings in between $2 and $3 million dollars in earnings, on average. It has been reported that her mother has a net worth of $4 million.
Recent events saw him enter into a number of new music contracts with well-established record labels that have a strong track record in the business. In addition to the revenue he generates from the sale of albums, Fetty also receives money from live appearances. Because of these activities, unquestionably there will be a rise in the individual’s available financial resources. Zaviera, who is the daughter of two affluent parents, enjoys a life of luxury, which she is able to afford because of her parent’s fortune.
The Alleged CashWorth Scam
Investors have stated that after investing considerable sums of money in CashWorth, they have not gotten the profits that were promised to them. The platform was blamed by many investors for causing them to lose their entire life savings after they invested in it.
After Raja Riaz vanished, investors were unable to retrieve their assets, which brought to light the allegations that he had been running a scam. After some time had passed, it was found out that Riaz had allegedly taken the money from the investors and used it for his own personal advantage.
Additionally, the CashWorth website was taken offline, and all of the social media profiles that were connected to the platform were deactivated. Because of this, investors were unable to get in touch with Riaz or have access to their investments.
Legal Action Against Raja Riaz
Complaints regarding the purported CashWorth Ponzi scheme were sent to the relevant authorities, which resulted in the opening of an inquiry into the matter. In the end, authorities tracked down and detained Raja Riaz, who was then charged with multiple counts of money laundering, wire fraud, and securities fraud.
Early in 2023, Riaz went on trial, and the jury ultimately decided that he was responsible for all of the charges against him. He was forced to make reparations to his victims in addition to receiving a term of thirty years in jail for his crimes.
Lessons Learned
The CashWorth scandal is a prime example of the risks associated with putting money into the cryptocurrency market. Although cryptocurrencies have the potential to provide big returns, they also attract con artists who are attempting to take advantage of investors who are not paying close enough attention.
The phrase “high returns with little risk” should always raise red flags for potential investors because it describes a type of investment that should never be trusted. Before putting their money into any investment opportunity, they need to do their homework and look into the people who are behind it.
In addition, investors should exercise caution when interacting with social media accounts that advertise investment opportunities. There are a lot of people out there who commit fraud and utilize phony accounts to give the impression that they are legitimate and attract new investors.
Conclusion
According to allegations, CashWorth was a fraudulent scheme that had spent years misleading investors. Raja Riaz, the company’s founder, was found guilty of securities fraud, wire fraud, and money laundering and received a sentence of thirty years in prison as a result of his convictions.
The situation with CashWorth demonstrates why investors need to exercise extreme caution before putting their money into the cryptocurrency market. Before putting your money into any investment opportunity, it is critical to carry out the appropriate amount of research and study the parties involved.
Additionally, investors should be aware of social media accounts that offer investment opportunities and constantly be mindful of the hazards connected with investing in cryptocurrencies. Investors should also avoid social media accounts that advertise investment opportunities.
