Mined securities fraud warning from Uruguay

Uruguay's financial watchdog just called out Mined Academy for operating without a license. The Central Bank of Uruguay (BCU) issued a formal securities fraud warning on June 13th against the company, which markets forex training and recruitment schemes across Latin America under the brand name "MINED Academy."

The warning is blunt: Mined Academy has no registration with the BCU and holds zero authorization to operate from Uruguay's Superintendence of Financial Services. That amounts to a securities fraud violation in Uruguay's jurisdiction.

Mined Academy functions as the training arm of Mined, a multilevel marketing company launched by Daniel Cueva Rodriguez in mid-2021. The business model mirrors Rodriguez's earlier venture, IM Mastery Academy, which also mixed forex education with pyramid-style recruitment tactics.

The BCU's alert likely stems from income claims Mined uses to recruit members. Marketing materials typically promise earnings that lack substantiation, a common red flag in MLM operations that regulators flag as fraudulent. While the structure itself doesn't obviously constitute securities fraud at first glance, the combination of unverified income promises and pyramid recruitment tactics triggers regulatory action in most jurisdictions.

Mined Academy targets Spanish-speaking markets aggressively. SimilarWeb data shows Mexico drives 40 percent of traffic to the company's website, followed by Peru at 22 percent, Argentina at 13 percent, and El Salvador at 6 percent. None of these countries list Mined Academy as a registered financial services provider.

The company's expansion across four major markets without regulatory approval in any of them signals a calculated strategy to operate in jurisdictions with lighter enforcement. Uruguay's public warning represents one of the few instances where regulators have formally documented the company's unlicensed status.

Securities fraud warnings in MLM cases typically precede larger regulatory crackdowns. Authorities often use public notices to alert consumers and gather evidence of deceptive practices. The fact that the BCU issued this warning suggests the regulator views Mined Academy as a material threat to consumers in its jurisdiction and throughout the region.

For people recruited into Mined Academy, the Central Bank's warning raises serious questions about what happens to the money they pay for training courses and recruitment bonuses. Without regulatory oversight, there's nothing stopping the company from redirecting funds or dissolving operations entirely.

Mined Academy's playbook closely mirrors other forex training MLMs that have faced regulatory action. The model depends on constant recruitment to generate returns for earlier members, a structure that inevitably collapses once new member recruitment slows. The BCU's warning represents an early signal that regulators are watching.

🤖 Quick Answer

What regulatory action did Uruguay's Central Bank take against Mined Academy?

What services does Mined Academy offer to its clients?
Mined Academy markets forex training programs and recruitment schemes throughout Latin America. Operating as the training division of Mined, a multilevel marketing company established by Daniel Cueva Rodriguez in 2021, it provides educational content related to foreign exchange trading and investment opportunities.

What is the connection between Mined Academy and IM Mastery Academy?
Both entities are associated with Daniel Cueva Rodriguez. IM Mastery Academy preceded Mined Academy and similarly

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