December 18, 2020 by Brian Priest Welcome to My Mining City Review. As Fraud Warnings continue and their vault crashes. Recruitment stalls and the Mining City Company introduces New Altcoin Electric Cash.
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Hello Everyone and welcome to my Mining City Review. The Mining City company has been having trouble from the start it seems. There have been issue with their vault collapsing, fraud warnings, and more.
And along with all the chaos comes attention. So I decided to dig into the Mining City Company and see what I could dig up.
As a matter of fact you may have heard about the Mining City Company and their investment and opportunities through a friend or an acquaintance. And you came here find out if it is a legit deal? Or is it just another scam designed to take your money? So we are going to give you all the latest information about the Mining City Company. As well as connect you to any information that would be helpful to you in deciding your future with the Mining City Company.
So stay with me until the end and pay close attention as we go through this Mining City Review.
What Is Mining City?
Mining City is a Bitcoin mining and investment platform that helps investors mine the digital currency. And at the same time, adding value to their original investments by expanding their network and growing the community. And the Mining City company claims to provide a community for investors that is focused on profitability as well the investors safety.
Bitcoin is usually obtained either through buying or mining the cryptocurrency. However mining can be a pretty complex process that involves multiple factors. And this where Mining City helps. The Mining City company platform handles all the complexity of mining Bitcoin on behalf of investors. And provides the technology and mining equipment that is needed to provide the assistance to investors which also help to minimize management costs.
Investors must purchase mining packages to meet the necessary requirements for mining assistance. And each of these mining packages has a Hashrate index. And investors receive daily Bitcoin payouts based on the HashRate index of the purchased package. In addition to that the Mining City company allows investors to receive interest from their mining for over two years.
But wait there’s more
The Mining City company is also the strategic partner of BTC.COM which is known as the largest Bitcoin pool in the world. In addition to that it is rumored that the Mining City Company has signed an investment document with the Kazakhstan government in the allocation of five-year land to build a mining coin factory along with electricity price incentives as well.
Ok so let’s dig in and see what we can discover about the Mining City Company inside of our review.
Hey though before we start…
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Now let’s get started and see what we can dig up in our Mining City Review.
Mining City Review -(The Company)
The Mining City has been around for a little while now and there several great company overviews written about the Mining City Company. For more background information on the company google Mining City Review: and Mining City Review 2.0: for those reviews. And that should pretty well bring you up to speed to the point at which we are right now.
And in addition to that if you want to find out more about Mining City’s New Altcoin Electric Cash Click this link.
Fraud Warnings – Mining City Review
The Mining Company has been having trouble from the start it seems. They’ve suffered a couple of huge vault crashes. Which means the value of it dropped by 30% the first time. And now on the heels of a fraud warning issued by Canada after they were added to Canada’s warning list, the companies altcoin, BTCV, is crashing as well.
And in a statement released by Canadian regulators it is stated that:
“Mining City, offering investment services on its website, is not registered in Ontario to engage in the business of trading in securities.”
And this is the second fraud warning the Mining City company has received.
Fraud Warning # 1 – Mining City Review
The Mining City company received it’s first fraud warning from the Philippine SEC in September 2020.
And in their statement the SEC in the Philippines says, 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.”
That just goes to show that these cryptocurrency companies need to be careful and start operating within the rules set by these financial regulators.
Offering illegal securities in the Philippines is illegal. And in every other country as well.
The warning was issued on September 10th, 2020 and applies to Mining City, Mining City’s CEO Gregory Rogowski, Mining City’s Philippine Team Leader Anthony Aguilar, and Mining City’s Philippines Facebook page admin John Rey Grey as well.
In addition to that the SEC has issued an advisory that warns people not to invest with Mining City. Or to stop investing in any scheme that the Mining City company offers.
And…
Another thing the SEC said was this:
“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.”
And just to keep you informed any continued promotion of the Mining City company in the Philippines can be penalized with a maximum of P5 million fine ($103,227) or 21 years in prison sentence. And in addition to that the SEC will report them to the Philippine tax authorities as well.
Fake Registration and Shell Companies – Mining City Review
Then in October 19, 2020 the Mining City Company CEO Gregory Rogowski released a webinar video that claims the company finally got their license with the Philippine SEC. But even after the company released the webinar the Philippines SEC has confirmed that Mining City has still not registered. However the only thing I believe they can do is crack down on local promotions and promoters.
Shell Companies
Mining City has a bunch of shell companies. However the Mining City company is owned by Eyal Avramovich. In addition to that he owns Mine Best as well which is just a spin off of the Mining City. And from what I can tell it looks like Eyal Avramovich put Gregory Rogowski in charge of Mining City…
In the webinar that was held on October 19th which was hosted by Avramovich, Rogowski and a translator, (probably for Mining City affiliate investors), Avramovich and the crew mainly talked about “haters” and how they are to blame for the decline of BTC. However the Philippines SEC securities fraud warning was addressed by Rogowsk who offered these statements in reguards to the warning.
[6:07]” It originated in the Philippines, where the authorities, the Philippines’ SEC issued a warning against Mining City, saying that we operated without a license. And this was an eye-opener. It just blew our minds. Suddenly we knew what we had to do.”
In addition to that Rodowski claims he didn’t know about this securities fraud, but said the following during the webinar:
“You see, we didn’t really need the license for legal reasons, we could have protested the article… but then we understood what we had to do. We applied for the license.“
I’m not real sure how they didn’t see that when it was so obvious to so may others.
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Ok now let’s keep moving. That was so awesome wasn’t it!
Blocked in the United States
So as of right now the Mining City company website “miningcity.com” is being blocked to all US traffic. And it has been that way for a while now. And that is most likely due to the fact that the United States SEC doesn’t play games. They’ll just shut you down and slap you with huge fine and maybe even jail time if you get to out there. Remember Bernie Madoff? On June 29, 2009, Judge Chin sentenced Madoff to the maximum sentence of 150 years in federal prison.
Now the Philippines SEC made it clear that they did a through investigation of the Mining City company before banning it from the country.
And besides that the Philippines is not the only countrythat Mining Cshould be registering with. They should be registering in every country they have affiliates in.
News Flash
So the next thing you know Gregory Rogowski drops the biggest piece of information about the company ownership.
[7:04] “Many of you may have already seen this document. We have a confirmation that we have a license for Mining City and for Prophetek and for what we are doing, issued by SEC (in) the Philippines.”
Prophetek is a shell company which is owned by Rogowski that provides a smokescreen behind around the Mining City company ownership. And On paper Prophetek owns the Mining City .
SEC Response
Now an anonymous source decided to contact the Philippines SEC about Rogowski’s claims and this was the response:
“We wish to inform you that Mining City has not registered with the Commission and does not have THE NECESSARY LICENSE AND/OR AUTHORITY to solicit, accept or take investment/placements from the public nor to issue investment contracts and other forms of securities.”
In addition to that Oliver Leonardo who is the Officer-in Charge of the SEC’s Enforcement and Investor Protection Department also stated;
“However, these fraudsters have failed to consider the governing laws which vary from different countries that have adopted dynamically based on demands of the society including the Philippine Securities Laws which deal with such aspects and imposes a heavy penalty for its noncompliance and/or violations.”
“Although prosecuting MINING CITY involves intricate matters which requires ample time for proper coordination with the other concerned government agencies, the Commission assures the public that MINING CITY’s members and/or representatives that are still actively offering, endorsing, selling and recruiting others to join said illegal scheme despite our prevailing Advisory will be dealt with accordingly.”
“We are in the process of gathering information of these representatives to formally file a complaint.”
“For the time being, we would appreciate it if you could help us educate and warn the investing public on MINING CITY for them not to be preyed by unscrupulous individuals and/or entities making exaggerated and unfounded claims of earning fabulous profits using its illegal scheme.”
And..
Just to make it known the Mining City company has no executive presence in the Philippines. Because both Avramovich and Rogowski are based out of Europe.
And After lying about Mining City having registered with the SEC Rogowski made the following statement:
[7:26] “This week (the) SEC takes down the warning about Mining City and we are going to promote the fact that we are the only first historically company in the mining industry that operates in what we do with a legal license.” But Seven days later the Philippines SEC warning is STILL online.
And Rogowski is also claiming that the Mining City company has “entered licensing processes” in South Korea. When in all reality what he means is he will be setting up more shell companies. Because it looks like that’s what he said:
[8:18] “by the end of November we will be applying for license. And as time progresses we will be applying for licenses wherever we need it. In (the) United States, in Europe, wherever this is required.”
Now in all honesty the webinar was VERY convincing. And even had people excited. But you can’t get excited until you see the PROOF. And As of right now BTCV has taken a nose dive. And is doing terrible…
Now to wrap things up!
I really hope Mining City can pull through. Because I know some good leaders in this company that are saying it’s a great company. And to be honest the idea and strategy are awesome.
Bit I don’t go by great and awesome. I have go on what is legal.
If you say something and it’s a complete lie. You completely lose your credibility. And that’s a hard thing to regain sometimes.
As of right now and probably until this company completely crashes it will operate as a ponzi scheme by offering illegal securities.
I will keep you in the loop if I find out MAYBE just MAYBE they pulled it off and got a real registration’s in ALL of the countries they are operating in but I doubt it…
Thanks for stopping by and I hope you enjoyed my Mining City Review and if you have any questions or comments, please feel free to comments section below. And i will get back to as soon as I am able.
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Brian Priest.
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