SKP Mine Ponzi fraud warning from Philippines
SKP Mine, aka SK Pools Mining Corporation, has received a securities fraud warning from the Philippines.
As per the Philippine SEC’s January 31st warning;
SK POOLS MINING CORPORATION is NOT registered with the Commission as a corporation or as a partnership and does not have the authority or license to offer and/or sell securities to the public.
This is the equivalent of a securities fraud warning in other jurisdictions.
The SEC also notes that SKP Mine is providing consumers with a bogus SEC certificate:
The SEC goes on to warn consumers that SKP Mine “has the characteristics of a Ponzi scheme”.
Further, the scheme employed by SK POOLS MINING CORPORATION has the characteristics of a “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.
This is in line with BehindMLM’s SKP Mine review, published in November 2023.
SKP Mine is a “click a button” app Ponzi run by Chinese scammers. BehindMLM has documented over a hundred of the scams to date, targeting various jurisdictions.
Back in October 2023, the Philippines was the top source of traffic to SKP Mine’s website. Traffic data after October is unavailable.
The SEC warns that promoters of SKP Mine in the Philippines run the risk of a twenty-one year prison sentence or 5 million PHP fine (~$89,000 USD).
Update 4th March 2024 – SKP Mine has collapsed. As at the time of this update SKP Mine’s website is no longer accessible.
Behind Asia’s cyber Slavery from DW (Germany PBS) is worth a watch for insight into the “click a button” app Ponzi factories.
The scams are set up by Chinese (templated so not much effort required), but the people who man the bogus tech support on Telegram or whatever are human trafficked slaves.
The “click a button” app Ponzis are part of a larger organized crime network run by Chinese scammers from SEA. As long as they’re paid off, or mainland China doesn’t come knocking, local governments and authorities turn a blind eye.
Can you please provide a very detailed information how this company is scam. The people behind it, exact location. How it actually works in series manner.
Information on its linked sites. How it became a ‘Ponzi Scheme”. How many people are involved in it, who benefits and who became the victims.
I’m also searching go this ….
Sure. Read the review. As for the rest of the crystal ball stuff, you’ll have to ask the Chinese scammers running SKP Mine.
Good luck with that.
This company is a scamm indeed, there are so many Pilipino’s who invested in this company with big investments!
I hope the Chinese government will catch all of them and punished them accordingly to what they did, or turn them to the Philippines in Mindanao and we will skin them alive.
SKP Mine’s website is offline, confirmed.