Despite Claims by Now Mining, Genesis Mining Is Not in A Partnership With Them
Now Mining developed and launched their platform last year, when they advertised their project as being the “official marketing arm of Genesis Mining.” However, even with this alleged connection, Now Mining did not survive for long, and eventually came tumbling down. In order to keep trying to succeed with their goals, the platform has been revamped as VIP Mining, which is being led by Luis Ortega.
Since the company has decided to relaunch their project, they have been noticeably silent about their alleged partnership with Genesis Mining. Still, Genesis Mining made the effort to contact BehindMLM.com, which recently reported on Now Mining.
The email from Chief Compliance Officer Shah Hafizi writes:
“I write to inform you that Luis Ortega’s claim that he has had a partnership with Genesis Mining is false and misleading to the public. We have never had a partnership or even communications with Mr. Ortega. Unfortunately, Mr. Ortega is one of many who have made false claims of mining capacity by unlawfully using the Genesis Mining trademark.”
The fact that Hafizi wrote this raises a few issues. The first subject is that of why Ortega lied about the collaboration in the first place. Second of all, there has to be a source of ROI payments, if Now Mining was not engaging in cloud mining. According to Hafizi, the Genesis Mining officials have already “notified several regulatory authorities of Mr. Ortega’s fraudulent scheme.”
In effort to answer these inquiring, a Now Mining review by BehindMLM established that the company probably used funds that were newly invested in the company for the daily ROI, which is only supported by Genesis Mining’s denial. Unfortunately for VIP Mining, this whole situation paints them as a Ponzi scheme, especially considering the lack of cloud mining.