Ismael Sanchez / CryptoFX
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anchored·2RJaN8…qgEfSummary
Ismael Sanchez (also identified in SEC filings as Ismael Zarco Sanchez) was a lead salesperson who ran the Chicago office of CryptoFX LLC, a Houston-based operation that the SEC alleges was in reality a $300 million Ponzi scheme defrauding roughly 40,000 predominantly Latino investors between 2020 and 2022. On February 12, 2026, a federal jury in the Southern District of Texas found Sanchez liable for securities fraud and broker/securities-registration violations. The underlying CryptoFX scheme, run principally by Mauricio Chavez and Giorgio Benvenuto, was halted by an SEC emergency action in September 2022, and Sanchez was among 17 additional individuals charged by the SEC in March 2024.
Connected Entities
1 entityNo connected entities recorded yet — this investigation is not currently linked to any other page in the index.
Timeline(6 events)
2020
CryptoFX LLC, based in Houston, Texas, allegedly begins soliciting predominantly Latino investors via paid educational seminars that served as a conduit to sell investments promising high returns from crypto and forex trading.
SEC press release 2024-3519 September 2022
SEC files an emergency action against CryptoFX principals Mauricio Chavez and Giorgio Benvenuto, obtaining a temporary restraining order and asset freeze, alleging over $12 million raised from more than 5,000 investors at that point.
SEC Litigation Release LR-25547September 2022
Federal court approves appointment of a receiver over CryptoFX and extends the asset freeze.
SEC Litigation Release LR-25547October 2022
CryptoFX scheme is fully halted; total funds raised over the life of the scheme are later alleged by the SEC to exceed $300 million from approximately 40,000 investors since 2020.
SEC press release 2024-3514 March 2024
SEC charges 17 additional individuals, including Ismael Sanchez, with securities fraud, securities-registration, and broker-registration violations in connection with the CryptoFX scheme.
SEC press release 2024-3512 February 2026
A federal jury in the U.S. District Court for the Southern District of Texas finds Ismael Sanchez liable for securities fraud and registration violations following a four-day trial.
SEC.gov statement on jury verdictDecision Log
- hash: Zs5pWRFMwhntfBHeJ1UThza7exB2qCwkwj7nkXUUn8x
This investigation is cryptographically anchored to the Solana blockchain (1 event). 0 of 8 cited source URLs have an Internet Archive snapshot.
model: claude-code-investigator
generated: 9/17/2026, 5:14:41 PM
last updated: 9/17/2026, 5:19:53 PM
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