Huascar Jose Lopez Castillo
Last changed 2026-10-27 · Fact-check review — Fact-check review (verdict: revise): the reviewer checked the page's claims against its sources; the trust score did not change. Version history →
Why this score
| Every page starts at | 65 |
| The subject's own conduct | -98 |
| Concerns that are not fraud | -6 |
| Problems around it, caused by others | -0.8 |
| Long-running | +10 |
| Regulated | +5 |
| Sum | -25 |
- No established finding that it defrauded anyone, so it stays out of the red band (26 or above).
Score: 26/100 (kept between 0 and 100)
How scoring works →Page reliability: Fact-checked 2026-10-27 · 9 of 12 claims confirmed · 3 need better sources
anchored·3H8RAk…TSiaSummary
Huascar Jose Lopez Castillo is a Dominican Republic national residing in Brazil and the alleged founder and CEO of Cash FX Group S.A. On September 24, 2026, the U.S. Commodity Futures Trading Commission filed a civil enforcement complaint against him in the U.S. District Court for the Middle District of Florida, alleging he orchestrated a fraudulent multilevel marketing Ponzi scheme that solicited over $950 million from approximately 400,000 accounts worldwide between June 2019 and December 2023. The CFTC further alleges Lopez Castillo personally misappropriated at least $96 million from the scheme; confirmed investor losses total at least $406 million. As of the date of this record, the complaint is an unproven allegation — no conviction, judgment, or admission has been entered.
Connected Entities
1 entityNo connected entities recorded yet — this investigation is not currently linked to any other page in the index.
Timeline(12 events)
1 May 2019
Lopez Castillo allegedly recruits Ronald Pope to assist in establishing the scheme infrastructure.
BehindMLM / CFTC complaint reporting5 July 2019
Cash FX Group S.A. incorporated in Panama; public investment solicitation begins.
BehindMLM / CFTC complaint reporting1 August 2019
Justin Halladay recruited as a promoter; scheme leadership meets in Orlando to plan launch.
BehindMLM / CFTC complaint reporting1 December 2019
UK Financial Conduct Authority issues the first regulatory warning against Cash FX Group, noting the firm falsely claimed FCA authorisation.
BehindMLM: Cash FX Group Securities Fraud Warning Issued in UK1 May 2021
Withdrawal delays begin to emerge among Cash FX participants, documented by industry observers.
BehindMLM10 June 2021
Monetary Authority of Singapore issues warning that Cash FX Group is not authorised to provide financial services in Singapore.
InvestmentNews / CFTC complaint reporting1 October 2021
Australian Securities and Investments Commission (ASIC) issues a warning about Cash FX Group.
Finance Magnates1 October 2022
Cash FX Group S.A. legally dissolved in Panama, though the scheme allegedly continued accepting deposits.
InvestmentNews / CFTC complaint reporting1 May 2023
Last documented investor deposit into the Cash FX scheme.
BehindMLM / CFTC complaint reporting24 September 2026
CFTC files civil enforcement complaint against Lopez Castillo, Cash FX Group S.A., The Conversion Pros Inc., Ronald Pope, and Justin Halladay in the U.S. District Court for the Middle District of Florida (case 3:2026cv02573).
CFTC Press Release 9304-26Decision Log
- slot 462053951 · hash GyPJ3TA4yPGgEnpfZK1p9zvLGtCVbQFkNZfgEnM1eKTS
- slot 462053945 · hash 4H6ctFWZnyF2jZWb43PdbFeN22xRSEY97LkB1WQKNRRX
- slot 455362166 · hash 3WheHmYFv4YrXkQXo8A8nAPDuF5vHFUwdkr8n2CtdjT6
- slot 452026420 · hash Dv3bh2HN5Fgwf3QKgmK7sVW7VuY1EpatiXDGKwkJggUH
This investigation is cryptographically anchored to the Solana blockchain (4 decisions). 11 of 13 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 9/30/2026, 5:03:43 PM
last updated: 10/27/2026, 11:29:35 AM
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