February 28, 2021

Mining City securities fraud warning issued in Philippines

Spread the love
  • 2
    Shares

Mining City has received a securities fraud warning from the Philippines SEC.

The Philippines SEC has identified Mining City as a “security in the form of (an) investment contract”.

According to the regulator, Mining City

is NOT REGISTERED with the Commission and OPERATES WITHOUT THE NECESSARY LICENSE AND/OR AUTHORITY to solicit, accept or take investments/placements from the public nor to issue investment contracts and other forms of securities.

As it is practically everywhere else in the world, offering unregistered securities is illegal in the Philippines.

The Philippines September 10th warning applies to

  • Mining City;
  • Mining City CEO Gregory Rogowski;
  • Mining City Philippine Team Leader Anthony Aguilar (right); and
  • Mining City Philippines Facebook page admin Jhon Rey Grey.

In light of Mining City and its promoters committing securities fraud, the Philippines SEC has advised the public, not to invest or stop investing in any scheme offered by Mining City.

The Philippines SEC agrees, noting

Mining City clearly shows indication of  possible Ponzi scheme, where monies from new investors re used in paying “fake profits” to prior investors and is designed mainly to favor its top recruiters

Seeing as Mining City is operated by Gregory Rogowski and Eyal Avramovich, the Philippines SEC is focusing on local promoters.

Continued promotion of Mining City within the Philippines can be penalized with a maximum P5 million fine ($103,227), or a twenty-one year prison sentence.

The SEC also warns anyone caught will also be reported to Philippine tax authorities.

Yikes…

Anyway doesn’t look good…

You can read more about crypto MLM here.

Now before you go…

Stay tuned for more in the future.

If you want to learn how you can take ANY business and scale it to your dreams and goals?

Partner up with us by clicking the banner below:

We will show you EXACTLY how to build a business online and customize a plan just for you.

We will help you choose a nice, setup your online business and offers that you can promote.

You can even use a network marketing company if you wish the sky is the limit.

On top of that you will get ONE on ONE mentoring to make sure you are doing things right.

Follow me on Social media below:

Follow Me On Facebook Here.

Subscribe To My YouTube Channel Here.

Follow Me On Instagram Here.

Follow Me On Twitter Here.

Think Rich and see you at the Top!

P.S.  If you are tired of failing ANY business, click here and check this out to take your game to the next level.

  •  
  •  
  • 1
  •  
  • 1
  •  
  •  
  •  
  •  
  •  
  •  

Leave a Reply

Your email address will not be published. Required fields are marked *