Texas Commissioner stops cryptocurrency mining scam Wireless Management

Texas Securities Commissioner Travis J. Iles has entered an emergency cease and desist order against Wireless Management, LLC, and its principal, William S. Rogers. It accuses the parties of promoting investments tied to a technology leveraging a decentralized network of global hotspots that permits cryptocurrency mining while providing wireless access for others.

Although Wireless Management and Rogers are located in Florida, they are accused of publishing online advertisements that encourage Texans to purchase their investments. The advertisements allegedly tout a turnkey package in hardware that “mines crypto currency [sic] and makes… great income every month.” The advertisements also claim the turnkey package generates passive monthly income for five years.

According to the order, the turnkey package is based on Helium. Helium refers to a blockchain network and a token that trades under the symbol HNT. Users earn HNT by installing and maintaining hotspots—devices that are a combination of a miner and a gateway that helps provide wireless coverage for connected devices over a certain radius. As these hotspots solve proof-of-coverage tests, owners are rewarded with HNT.

HNT has a current circulating supply of more than 108 million HNT and a current market capitalization of approximately $3.2 billion. According to the order, the price of HNT is volatile—HNT was priced at around $1.30 per token on January 1, 2021, peaked at around $52.99 on November 15, 2021, and is priced at around $29.00 as of January 19, 2022.

The order does not accuse Helium Systems, Inc., the developer of HNT, or any employee of the company of dealing in securities in Texas or violating state securities laws. The order only names Wireless Management and Rogers and accuses them of illegally and fraudulently issuing investments independent of Helium Systems, Inc.

Wireless Management and Rogers are allegedly telling potential investors they have secured hotspots and “top tier locations” for mining HNT. In return for an initial capital investment, Wireless Management and Rogers are allegedly telling investors they will receive passive income in the form of HNT mined by a hotspot placed at one of these locations. The HNT earned through mining will reportedly be evenly split—investors receive half of the rewards and Wireless Management receives half of the rewards.

According to the order, when the Enforcement Division began investigating Wireless Management and Rogers, the Enforcement Division afforded Wireless Management and Rogers the opportunity to become compliant with the law. Although they promised to become compliant, Wireless Management and Rogers nevertheless continued to illegally and fraudulently offer securities in Texas. Commissioner Iles entered the order after determining their conduct now threatens immediate and irreparable public harm.

Wireless Management and Rogers are not registered to sell securities in Texas, Wireless Management has not registered the turnkey investment with the Securities Board, and the agency has not permitted the investments for sale in Texas.

In addition to violating state registration laws, the order accuses Wireless Management and Rogers of concealing material risks associated with the turnkey investment and deceiving investors about their technical knowledge.

15 Replies to “Texas Commissioner stops cryptocurrency mining scam Wireless Management”

  1. El software de monitoreo remoto de teléfonos móviles puede obtener datos en tiempo real del teléfono móvil de destino sin ser descubierto, y puede ayudar a monitorear el contenido de la conversación.

  2. Anstatt einen solchen bargeldintensiven Kauf zu tätigen, stimmte MGM jedoch zu, Primadonna für 276 Millionen Dollar an Aktien plus 336 Millionen Dollar an Schulden zu kaufen. Die japanische Firma Universal Distributing besaß das Grundstück und hatte ein Joint Venture mit
    den Promus Companies zum Bau eines Hotelcasinos diskutiert,
    konnte aber keine Einigung erzielen. Stattdessen ist es über
    Fußgängerbrücken mit den benachbarten Casinos im Süden (Excalibur, über die Tropicana Avenue) und im Osten (MGM Grand) verbunden.
    Gelegen am lebhaften Las Vegas Strip in Paradise,
    Nevada, gehört es zu MGM Resorts International und bietet eine faszinierende Mischung aus
    Unterhaltung, Gastronomie und Casino-Flair.
    Das Hotel verfügt auch über fast ein Dutzend Bars und Nachtclubs, die eine
    weitgehend jugendliche Zielgruppe ansprechen, darunter
    Nine Fine Irishmen, die Bar am Times Square (eine Piano-Bar) und die Center Bar, die sich
    im Zentrum des Hauptcasinos befindet. Juni 2014 endgültig
    geschlossen und erfolgreich unterteilt, um Shake Shack und Tom’s
    Urban unterzubringen, die Ende Dezember 2014 eröffnet wurden. Oktober 2010 eröffnete das Hotel die Anlage nach einem umfangreichen Umbau wieder und nannte sie „Sporting House“.
    Bis Juni 2010 befand sich im Hotel eine ESPN-Zone, die von der Straße und vom Casino aus erreichbar
    war. Das Theater ist als Kabarett eingerichtet, mit Sofas und Barhockern als Ergänzung zu den Standard-Theatersitzen.

    References:
    https://online-spielhallen.de/posido-casino-auszahlung-dein-leitfaden-fur-reibungslose-gewinnauszahlungen/

Leave a Reply

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