multi-level marketing company scam

Viet Lien Ket Company defrauded over 2.000 billion VND.

The prosecuting authorities determined that Le Xuan Giang and his accomplices defrauded and enticed nearly 67.000 people into paying nearly 2.100 trillion VND to Lien Ket Viet Company.

The scheme of the Chairman of the Board of Directors of 2 multi-level marketing companies defrauded over 600 people, appropriating 61 billion VND.

Lam Huu Son and his three accomplices used the tactic of offering four high-interest rate packages (from 36 to 45,6% per year) to raise capital contributions of 30 million VND or more, defrauding over 600 customers and appropriating 61 billion VND.

25 multi-level marketing companies that violated regulations were shut down.

Due to violations of regulations on multi-level marketing activities, 25 multi-level marketing businesses have had their operating licenses revoked by the authorities.

The tragic story of a 17-year-old boy who was tricked into a fraudulent multi-level marketing scheme.

Through a friend's introduction, a 17-year-old victim from Yen Bai province came to Hanoi to find work. However, shortly after being offered a job that would allow her to buy a Honda SH scooter within three months, she was forced by a group of thugs on Yen Hoa Street to sign a loan agreement for 7 million VND with an interest rate of 42.000 VND per day (220% per year).

Files of numerous multi-level marketing companies have been transferred to the Ministry of Public Security.

Sources from the Ministry of Industry and Trade indicate that, along with issuing conclusions on the operations of the inspected multi-level marketing companies, the Ministry has shared all information regarding the activities and violations of these multi-level marketing businesses with representatives of the Economic Police Department (C46) of the Ministry of Public Security.

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