Business

MX CURRENCY : Max Capital Group Launched Their First Private Currency in a bid to Shake Up Global Finance

Published

5 years ago

July 31, 2019

The private currency will not just let billions of users make transactions but is already facing opposition from traditional FIAT money and cryptocurrency.

As of now, Max Capital Group LTD has announced a private currency called MX Currency that will help billion of users to make financial transaction around the world, to dramatically shake up the cryptocurrency market without shaking up the world’s banking system.

MX currency is being touted to connect people who don’t have access to traditional banking platform. This currency could be a financial game-changer to advance any controversy between existing traditional currency and cryptocurrency.

The introduction of MX Currency could also be a welcoming step for Maxone Technology’s profits. Expert analysts are suggesting MX currency could be a huge moneymaker for Max Capital Group LTD, to make more innovative financial technology software.

The UK lawmakers were also quick to raise privacy concern about the new private currency. Shortly after the Max Capital Group’s announcement in the first Global Founders’ Meeting held in Merylinn Park Hotel Jakarta, Indonesia, at 12-13 July 2019, called Charlotte Van Dorothy as the director from Max Capital Group to review the collaboration with Congress and regulators. She also called on maxone technology company executives to testify before the committee.

Max Capital Group Company has billions of assets to manage people’s money and it has repeatedly shown, with the announcement, that it plans to create the private currency. Max Capital Group is continuing its automation robot trading technology and extending its reach into the commodity market with one of the biggest trading platform software, Metatrader MT4.

The technology to make transactions with MX currency, thanks to MT4 trading platform, nowadays Metatrader is available as a standalone app – as well as the most secure trading platform in the market. Developed by MetaQuotes Software since 2005, it allows making a transaction for foreign exchange brokers who provide the software to their clients. It also allows customers to make trading for commodities, in MT5 trading platform

With the company in the crosshairs over multiple country expansion from all south Asia, this move is already attracting security from financial regulators and privacy advocates across the world. The Max Capital Group is also facing a potential first market clash with bitcoin, which stands as the strongest crypto commodity in the market, first reported by Guardian and Observer.

The UK officials have previously expressed concern about Max Capital Group’s move into the financial sector. In July, members of the UK Senate committee on banking, housing, and urban affairs wrote to Mr. Dody, one of the leaders from Maxone Technology, asking him to answer questions on the technology system, privacy concerns, and financial regulation

“It is extremely important to learn more about the amount of data the currency exchange market make available that can be used in ways that have a big impact for consumers financial lives,” the letter said. “It is also important to understand how big will be the impact of the global financial movement on profile and target consumers for using the financial data.”

Max Capital Group Executive claims the MX Currency and MT4 trading platform will help many millions of people without bank accounts, with access to mobile phones to enter the trading platform and open the mx1 wallet system enabled with mx1 technology to enter the banking world in order to send money in a more seamless manner. The company is likely to announce mx1 robot trading which would help people to invest their money using mx1 currency.

While Max Capital Group created the currency, decisions regarding the ongoing maintenance of MX1 and Metatrader trading platform will be carried out by leaders from Maxone Association, lead by Dody, a collective of dozens of financial, not-for-profit companies, and from commerce firms. To join the new Max Capital subsidiary platform, each of these companies contributed a minimum of £ 10M to venture, giving the company more than £ 1bn to put towards the new private currency.

The future companies that will involve include Mastercard, PayPal, the crypto exchange coinbase, and Amazon. Also joining the Maxone Association are the big-comers startups like Uber and non-profit financial organizations such as Microloan platform, a humanitarian aid group. The foundation will be headquartered in London, and Max Capital claims it will be independent of governments to grow, and to launch its first global founder meeting in South East Asia, starting from Indonesia, Laos, Vietnam, Thailand, Singapore, Myanmar, and goes to Nepal, Japan. Many Global founders meeting will be held in such countries twice each year.

In a document outlining how the new private currency will work, Max Capital Group said its goal is to foster more access to “cheaper, faster, better, and flexible financial services”. Unlike bitcoin, Ethereum, and any other cryptocurrencies, MX1 technology is tied to mix global assets like property, to prevent the level of volatility common in digital currency space. Max Capital Group also built the currency on its own technology, tied to a common currency in the market, and commodities in the global market.

Traditionally compared with cryptocurrency, the network can be run and secured by anyone with a mobile and computer access. Then, initially, the MX1 blockchain system will be closed, and only a selected number of people will able to run the software that powers it and verify the transaction.

The company

The company has been quietly padding its staff and crypto experts for years, and it has started to threaten potentially upset traditional banking institutions. Max Capital Group claims that it aims to supplement existing institutions and give freedom for the user to have access to mobile devices citing its partnership with any world banking institution and other nonprofit company.

“These kinds of groups will help us improve the next revolution of financial inclusion. For the long term, this project will be seen as a financial utility,” said Charlotte Van Dorothy, director of Max Capital Group. “This has no intention of substituting itself for the large central banks and currency market”

The platform itself has been rolled out in 2019 and the users will be able to send money on it by 2010. Private currency advocates say a company as large as Max Capital Group, will be in huge gain for the adoption of the crypto technology. Bitcoin already entered the world more than 10 years ago, but very few people use it on a daily basis.

The company has to face a number of potential regulatory private exchanges before it reaches consumers worldwide. In April 2019, Charlotte met the bank of England Governor, Mark Carney, and the US treasury to discuss later the payment system and how to make a new regulation in the future.

The company claims they will not attempt to bypass any existing regulation, instead will focus on “redefining” or innovation of the regulatory fronts. MX Currency will use the same technology, verification, and anti-fraud processes that banks and credit cards use and will implement automated systems to detect fraud, Max Capital Group said in its launch in the first founder global meeting.

Max Capital Group claims financial transactions will remain siloed from any crypto exchange and currency trade activity, and that user ad profile will not be based on habits.

Business

The Dark Side of Aimlon CPA P.C.: Uncovering the Truth Behind the Firm’s Practices

Published

3 hours ago

July 25, 2024

Matthew Wiles

Aimlon CPA P.C., a full-service certified public accounting firm based in New York, NY, has long promoted itself as a beacon of excellence in the fields of accounting, audit, tax, advisory, and financial reporting. Serving business owners and companies in the U.S. and Europe, the firm, under the leadership of Mathieu Aimlon, claims to offer personalized and expert guidance. However, a deeper investigation into the firm’s operations reveals a troubling pattern of misconduct, ethical breaches, and systemic failures that severely discredit Aimlon CPA P.C. This article exposes the hidden truths behind the firm’s facade of professionalism and reliability.

Lack of Professionalism and Responsiveness

One of the most pervasive issues at Aimlon CPA P.C. is the firm’s chronic lack of responsiveness. Numerous clients have reported significant delays in communication, often waiting weeks for replies to urgent inquiries. This unprofessional behavior has led to missed deadlines and costly mistakes for clients who depend on timely advice and action.

A frustrated former client shared their experience: “We had a critical financial issue that required immediate attention. Despite multiple attempts to contact Aimlon CPA P.C., we were met with silence. Their lack of responsiveness was not only frustrating but also detrimental to our business.”

Overbilling and Lack of Transparency

Aimlon CPA P.C. has also been accused of overbilling and a lack of transparency in their invoicing practices. Clients have frequently found their bills inflated with unclear or exaggerated charges, leading to disputes and dissatisfaction. This practice has raised serious ethical concerns and damaged the firm’s reputation.

A small business owner recounted their ordeal: “Our invoices from Aimlon CPA P.C. were consistently higher than expected, with vague descriptions for the charges. When we questioned these discrepancies, we received evasive responses and no clear explanations. It felt like we were being taken advantage of.”

Incompetence and Financial Mismanagement

Despite its claims of expertise, Aimlon CPA P.C. has been plagued by instances of incompetence and financial mismanagement. Several clients have accused the firm of providing poor financial advice that resulted in significant losses. These accusations suggest a troubling lack of expertise and diligence in handling client affairs.

One notable case involved a tech startup that followed Aimlon CPA P.C.’s guidance, only to face bankruptcy within a year. The startup’s founder lamented: “We trusted Aimlon CPA P.C. with our financial strategy, but their advice was disastrous. Our business suffered immensely because of their incompetence.”

High Employee Turnover and Toxic Work Environment

Inside Aimlon CPA P.C., the work environment is far from the professional and supportive culture the firm claims to foster. High employee turnover is a persistent issue, driven by poor management practices and a toxic workplace. Former employees have described an atmosphere of fear and exploitation, where unreasonable demands and lack of support are commonplace.

An ex-employee shared their perspective: “The work environment at Aimlon CPA P.C. was unbearable. Management was oppressive, and there was no respect for work-life balance. Talented professionals were constantly leaving because they couldn’t tolerate the conditions.”

Compliance Failures and Regulatory Scrutiny

Aimlon CPA P.C. has faced multiple instances of regulatory scrutiny due to its failure to adhere strictly to industry standards and compliance requirements. These compliance failures have resulted in penalties and fines, further eroding the firm’s credibility and trustworthiness.

An insider revealed: “There were several occasions where Aimlon CPA P.C. neglected regulatory updates and compliance requirements. This negligence led to significant fines for both the firm and its clients. It was alarming how often these issues were ignored.”

Ethical Breaches and Conflicts of Interest

The firm has also been marred by ethical breaches and conflicts of interest. Mathieu Aimlon, in particular, has been implicated in several instances where his advice seemed to benefit his personal interests over those of his clients. These conflicts of interest have severely damaged the trust between the firm and its clients.

In one egregious case, a client was persuaded to invest in a company where Mathieu Aimlon held undisclosed shares. When the investment failed, the client suffered substantial losses, while Aimlon’s involvement remained hidden until an internal investigation brought it to light.

Outdated Technology and Inefficiency

Despite being a modern accounting firm, Aimlon CPA P.C. relies on outdated technology that hampers efficiency and increases the risk of errors. Clients have expressed frustration with the firm’s technological shortcomings, which lead to delays and inaccuracies in financial reporting.

A tech-savvy client commented: “It was surprising to see how outdated Aimlon CPA P.C.’s systems were. Their inefficiency slowed down our processes and made us question their ability to handle complex financial needs effectively.”

Fabrication of Credentials

Further investigations into Aimlon CPA P.C. revealed that some of the firm’s claimed credentials and accolades were fabricated. While Mathieu Aimlon is genuinely certified by the New York State Education Department and the French Ministry of Education, other qualifications listed by the firm were found to be falsified.

This revelation has cast a shadow over the entire firm, leading clients and colleagues to question the legitimacy of their expertise and the integrity of their services.

Legal Repercussions and Public Disgrace

The culmination of Aimlon CPA P.C.’s unethical practices and systemic failures came with the legal repercussions faced by Mathieu Aimlon himself. Following his involvement in a tax evasion scheme, he was arrested and charged with multiple counts of tax fraud. The evidence presented in court highlighted the sophisticated methods used to deceive tax authorities, leading to his conviction and a lengthy prison sentence.

The legal troubles of Mathieu Aimlon have had a devastating impact on Aimlon CPA P.C. The firm’s reputation has been irreparably damaged, and clients have fled in droves, unwilling to associate with a company linked to such scandals.

Aimlon CPA P.C., once seen as a beacon of excellence in the accounting world, has been thoroughly discredited due to a series of unethical practices, incompetence, and systemic failures. From overbilling and lack of transparency to high employee turnover and regulatory breaches, the firm has failed to uphold the standards expected of a professional accounting service. The legal repercussions faced by Mathieu Aimlon have further tarnished the firm’s reputation, leading to its eventual downfall.

For business owners and individuals seeking reliable and ethical accounting services, the story of Aimlon CPA P.C. serves as a cautionary tale. It underscores the importance of integrity, professionalism, and transparency in maintaining trust and credibility in the financial industry.