Two salespersons for CryptoFX, LLC are now barred from the securities industry after separate SEC orders this month. Elizabeth Escoto, a 53-year-old resident of Kenner, Louisiana, was barred on November 5, 2026. Reyna Guiffaro received the same sanction on November 4. Both sold unregistered CryptoFX "Venture Agreements" to investors while acting as unregistered brokers.
What happened in the orders
According to the SEC, Escoto offered and sold securities in the form of Venture Agreements for CryptoFX between May 2022 and October 2022. She also supervised other CryptoFX salespersons. Escoto has never been registered with the Commission as a broker or associated with a registered broker-dealer.
Guiffaro’s order covers the same conduct. The SEC found that she sold unregistered CryptoFX Venture Agreements and acted as an unregistered broker while receiving transaction-based compensation.
The underlying CryptoFX enforcement case
Both orders grow out of an SEC civil action in federal court in Houston. On October 26, 2026, a final judgment was entered by consent against Escoto in SEC v. Ismael Zarco Sanchez, et al., Civil Action No. 4:24-cv-939 in the Southern District of Texas. That judgment permanently enjoins her from violating Sections 5(a) and 5(c) of the Securities Act and Section 15(a) of the Exchange Act. The SEC has alleged that CryptoFX promised investors returns from crypto-asset and foreign-exchange trading.
Key facts in the case
| Item | Elizabeth Escoto | Reyna Guiffaro |
|---|---|---|
| Order date | Nov. 5, 2026 | Nov. 4, 2026 |
| SEC release no. | 34-106830 | 34-106817 |
| Role | Salesperson; supervised other salespersons | Salesperson |
| Products sold | CryptoFX Venture Agreements | CryptoFX Venture Agreements |
| Compensation | Commissions and bonuses | Transaction-based compensation |
| Registration status | Never registered; no broker-dealer association | Not a registered broker |
| Sanctions | Industry bar; reapply after two years | Industry bar; reapply after two years |
CryptoFX, LLC was not registered with the SEC in any capacity. The orders bar both women from associating with any broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical rating organization. Each may apply for reentry after two years.
Red flags investors should recognize
The CryptoFX pattern is familiar to securities regulators. An unregistered seller promotes an unregistered product with a contract-like name, in this case a "Venture Agreement." The seller’s income depends on commissions tied to new sales. The promised returns come from trading that investors cannot verify.
Unregistered selling operations often spread through community networks, relying on trust rather than credentials. Anyone can check a seller in minutes through FINRA BrokerCheck.
What investors can do now
Investors who bought CryptoFX Venture Agreements should gather purchase records, payment confirmations, and communications with the salespersons. A bar removes the seller from the industry, but it does not by itself return money to investors. A securities attorney can review whether arbitration, a receivership claim, or another path fits your situation.
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This article is for general information only and does not constitute legal or investment advice. It summarizes public SEC orders and allegations; both respondents settled without admitting the findings.
