The perpetrators who referred victims to buy high-priced phones were paid 50.000 VND per day for watching advertisements, leading many to believe this was a legitimate way to make money.
The Phu Tho Provincial Police have just dismantled an illegal multi-level marketing scheme that attracted nearly 2.000 investors with transaction amounts reaching billions of VND.
The Phu Tho Provincial Police have just dismantled an illegal multi-level marketing scheme involving cryptocurrency investment (TCIS), arresting the ringleader and recovering over 30 billion VND.
Police have identified a criminal group operating on a multi-level marketing scheme on an exceptionally large scale, involving 9.000 people and operating across borders.
Many people gathered in front of the "Trieu Nu Cuoi" (Million Smiles) store in Con Cuong district town (Nghe An province), owned by fraudster Ho Quoc Than, to demand their rights.
From June 2019 to the present, the General Director of Tam Loc Phat and his accomplices used sophisticated methods to raise over 5.100 billion VND from investors, and embezzled 1.000 billion VND.
This information was shared by the Director of the Department of Industry and Trade of Bac Giang province at a conference on disseminating legal information and information on multi-level marketing in the area.
Vinalink, Oriflame, Seacret, and many other multi-level marketing (MLM) companies will be inspected this year regarding their compliance with laws on multi-level marketing business operations.
The completion of the legal framework for managing multi-level marketing aims to promote healthy development and enhance the transparency of multi-level marketing activities.
From 10-11 am on December 30th, VTC News online newspaper will host a panel discussion on the topic: "The process of perfecting the legal framework for managing multi-level marketing in Vietnam."
Netizens are seething with outrage after watching a scene where a woman is beaten with sticks by several people right on stage, while being berated by a "big boss."
After the website http://www.busstrade.com crashed, thousands of investors on the Busstrade cryptocurrency exchange lost everything.
The Ministry of Public Security warns that Binary Option (BO) trading platforms show signs of organizing illegal multi-level marketing schemes, fraud, and misappropriation of assets.
Instead of being used for reinvestment, the invested or contributed funds are used to pay previous investors, essentially resulting in no profitable investment activity.
Instead of seeing huge profits, investors were left in a panic when the Coolcat exchange suddenly collapsed, wiping out hundreds of billions of dong.
Experts point out the telltale signs of multi-level marketing scams, aiming to help people identify them and protect themselves.
The interests of multi-level marketing businesses and consumers are being protected more transparently.
By the end of 2020, there were 22 businesses operating legally with multi-level marketing licenses, achieving revenues of over 15.400 billion VND.
VTC News online newspaper, in collaboration with the Competition and Consumer Protection Department, organized a seminar titled "Overview of the Multi-Level Marketing Industry in Vietnam".
The multi-level marketing industry in Vietnam is gradually stabilizing, with steady revenue growth and businesses making significant contributions to the national budget and the community.
At 10:4 AM on April 19th, VTC News online newspaper will host a panel discussion on the topic "An Overview of the Multi-Level Marketing Industry in Vietnam".
The Hanoi City Red Cross Society explains its decision to dissolve the Tinh Nguoi Red Cross Support Branch.
The People's Committee of Thua Thien Hue province is urging people not to participate in "Crowd1" as the project has not yet been licensed to operate, posing high risks in terms of value and legal aspects.
Le Xuan Giang, the ringleader of a multi-level marketing scheme, was sentenced to life imprisonment by the court, while his six accomplices received sentences of over 10 years in prison.
Defendant Le Xuan Giang, former chairman of Lien Ket Viet Company, apologized to the victims but still asserted that he conducted his business legitimately and was "an honest person, not a thug."
Standing before the court, multi-level marketing boss Le Xuan Giang admitted all his crimes and earnestly pleaded for leniency.
After two days of trial, the Hanoi People's Procuracy presented its indictment and proposed a life sentence for multi-level marketing ringleader Le Xuan Giang.
In court, defendant Nguyen Xuan Truong denied giving false presentations about the company and claimed that he had even warned customers to be wary of scams.
Le Xuan Giang forged decisions and certificates of merit from the Prime Minister to gain the trust of customers, defrauding more than 68.000 people and appropriating over 1.000 trillion VND.
This morning, the Hanoi City People's Court opened the trial of multi-level marketing boss Le Xuan Giang of Lien Ket Viet company.
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