The Securities and Exchange Commission (CVM) issued a warning against the irregular activities of the companies CFI Financial Group Holding Ltd and CFI International Ltd, both involved in the offering of crypto assets. According to the regulatory agency, these companies do not have authorization to mediate securities or raise funds from investors for that purpose.
Even without the proper permission, the companies promote themselves internationally, claiming sponsorships from institutions and well-known figures, such as the Department of Culture and Tourism of Abu Dhabi, the basketball team of Lebanon, the football club Milan, and the driver Lewis Hamilton, who is cited as the brand ambassador.
The Superintendence of Market Relations and Intermediaries (SMI) of the CVM identified indications that the companies are trying to attract Brazilian investors through the websites cfifinancial.com and cfi.trade/pt/br, with the latter being the main channel for directing users.
The companies claim to be part of the CFI Financial Group, a supposed conglomerate with over 25 years of operation, based in Mauritius and founded by Hisham Mansour and Eduardo Fakhoury. They also claim to hold 12 valid certificates and licenses in countries such as the United Kingdom, United Arab Emirates, Cyprus, Jordan, Seychelles, among others.
Based on CVM Declaratory Act No. 23,344, the Commission determined the immediate suspension of any public offering of securities intermediation carried out by the companies or their representatives, including on digital platforms such as websites, apps, and social networks. The CVM justified the decision based on the companies not fitting into the securities distribution system provided for in Law No. 6,385/76.
If the determination is not complied with, the companies and their responsible parties will be subject to a daily fine of R$ 1,000.
Finally, the CVM warns investors: if they receive investment proposals from these companies, they should report the case immediately to the Citizen Service (SAC) of the CVM, providing details of the offer and identification of those involved so that measures can be taken swiftly.