HEROMINING/HERO MINING/HERO MINING INTERNATIONAL GROUP is NOT registered with the Commission and operates without the necessary license and/or authority
Date Posted: 30 November 2022
This ADVISORY is prompted by reports and information gathered by the
Commission that individuals or group of persons representing HEROMINING/HERO
MINING/HERO MINING INTERNATIONAL GROUP, are enticing the public, through
social media platform or through their own independent websites, to invest in said
entity. As posted on their website, you can invest by registering first, then you can
choose from any of the Seven (7) types of RIGS EQUIPMENT/MACHINE which are
Storm B-13 worth $10 valid for 20 days, S18J-3003 worth $30 valid for 60 days,
M2-14T worth $40 valid for 200 days, MST-3004 worth $40 valid for 120 days,
1246-30T worth $493 valid for 365 days, M20S-98T worth $691 valid for 365
days and JHS-32 worth $789 valid for 365 days. The investor can earn from
Php1,000 up to Php144,905. And also, investor can earn 60% from the profit of
their succesful recruit or invited friends. Lastly, the investor can also earn through
staking for 1 week up to 3months ranging from 10% up to 240%.
Briefly, an “investment contract” exists when there is an investment or placement
of money in a common enterprise with a reasonable expectation of profits to be derived
from the efforts of others which is prominent in the scheme of HEROMINING/HERO
MINING/HERO MINING INTERNATIONAL GROUP.
As such, the Securities Regulation Code (SRC) requires that said offer and sale of
securities must be duly registered with the Commission and that the concerned entity
and/or its agents should have the appropriate registration and/or license to sell such
securities to the public.
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.
The offering and selling of securities in the form of investment contracts using
the “Ponzi Scheme” which is fraudulent and unsustainable, is NOT a registrable
security. The Commission will not issue a License to Sell Securities to the Public to
persons or entities that are engaged in this business or scheme.
In view thereof, the public is hereby advised to STOP INVESTING in the
investment scheme being offered by HEROMINING/HERO MINING/HERO MINING
INTERNATIONAL GROUP, and its representatives.
Those who act as salesmen, brokers, dealers or agents of HEROMINING/HERO
MINING/HERO MINING INTERNATIONAL GROUP, in selling or convincing people to
invest in the investment scheme being offered by the said entity including soliciting
investments or recruiting investors through the internet may be held criminally liable
under Section 28 of the SRC and penalized with a maximum fine of Five Million Pesos
(Php5,000,000.00) or imprisonment of Twenty One (21) years or both pursuant
to Section 73 of the SRC (SEC vs. Oudine Santos, G.R. No. 195542, 19 March 2014).