Press Release from SEC
The Enforcement and Investor Protection Department of the Securities and Exchange Commission (SEC) has issued an advisory against
The SEC Davao Extension office confirms that HEROMINING/HERO MINING/HERO MINING INTERNATIONAL GROUP has operations within SEC-Davao’s Area of Responsibility (Davao Region, SOCCSKSARGEN, Cotabato City and the Maguindanao Provinces).
Based on the Commission’s database, HEROMINING/HERO MINING/HERO MINING INTERNATIONAL GROUP, is NOT REGISTERED as a corporation or partnership 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 defined under Section 3 of the Securities Regulation Code (SRC).
Further, the scheme employed by HEROMINING/HERO MINING/HERO MINING INTERNATIONAL GROUP, shows indication of a possible “PONZI SCHEME” where monies from new investors are used in paying “fake profits” to prior investors and is designed mainly to favor its top recruiters and prior risk takers and is detrimental to subsequent members in case of scarcity of new investors.
We are reminding the public to exercise caution when dealing with individuals or groups soliciting investments for and on their behalf. Should you have any information regarding the operation of , and its representatives or agents, please send your report through email at
[email protected]We hope you can help us share this information to warn the investing public.
Thank you and more power.
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