Multi-level capital mobilization in the 4.0 era 'surrounds' many teachers in Nghe An

Expose multi-level marketing

For many months now, Ms. H. has been constantly bothered by messages from her colleagues inviting her to join a group called Lion Group. Even though she is the principal of an elementary school in the district,Thanh Chuong“There are a lot of people who put money into this group. Then one person invites another, it’s all chaos,” Ms. H. said, adding that at the school where she is the principal, there are also many teachers who have put money into this group. Some people have even borrowed hundreds of millions of dong to invest because they see “you can still make money without working.”

In Thanh Chuong district, Lion Group is led by an employee working at Thanh Thuy Primary School. On his personal Facebook page, this person regularly posts advertising information for this “group”. In addition, this person also regularly texts his colleagues to entice and entice. “This is not the case here.multi-level marketing. After only 2 hours, the money is in the account, the profit is calculated daily. Even without doing anything for a month, you will still have at least 5 million VND", one of a series of messages that this school staff sent to colleagues to invite them, which Nghe An Newspaper reporters accessed.

A meeting of Lion Group members that teachers in Thanh Chuong posted on social media. Photo: PV

According to the leader of Thanh Chuong group, customers only need to pay a minimum of nearly 24 million VND, transferred to the group's account to buy 1,000 USD, and each month they will receive 5 million VND in interest. The more money they pay, the higher the interest. Up to now, in Thanh Chuong district alone, more than 100 teachers have invested in this financial trading floor. To gain the trust of their "prey", this group also contacted the leaders of Thanh Thinh commune to give gifts to a few poor households under the label of "Lion Thanh Chuong Group", then took pictures of local leaders and posted them on social networks.

According to the reporter's research, Lion Group is a foreign exchange floor operating in the form of a multi-level marketing scheme. Lion's way of operating is that investors create accounts to withdraw and deposit money, then create additional accounts to trade on the foreign exchange market and deposit at least 1,000 USD to the expert team. The expert team will trade for 0.8 - 1% / day and with a promise to earn about 22% profit every month. Those who introduce others to open the above account will receive a transaction commission based on the customer's assets and trading volume, the higher the number, the larger the commission.

Giving gifts at Thanh Thinh commune with the label of Lion Group Thanh Chuong branch to create trust. Even though this company is not licensed. Photo: PV

Fraud, run away with money

That was the affirmation of the representative of the Nghe An Department of Industry and Trade when asked by reporters about the way Lion Group operates. The reason is that this "group" has no business products, only takes money from later people to share with previous people. It operates in the form of multi-level capital mobilization, nothing more, nothing less. Even though the people in the group who are trying to attract colleagues still insist that "it is not multi-level".

“Lion Group has not been licensed by the Ministry of Industry and Trade, and certainly will not be licensed. Therefore, those who entice and persuade others to participate in these trading floors are also violating the law. People should be careful,” said Mr. Nguyen Van Long, an official of the Nghe An Department of Industry and Trade, adding that this type of investment has been “springing up like mushrooms” in recent times. Regardless of the name, all websites operate illegally. After a while, when a large amount of money has been raised, the system will collapse, and investors will lose money. The scammers then create new systems to continue to attract.

In fact, this form of fraud is not new. In recent years, many financial investment companies labeled as "investment trusts" have collapsed after mobilizing thousands of billions of dong from investors and then absconding, and thousands of people have lost money. For example, in 2006, the Golden Rock financial trading floor collapsed, and it is estimated that about 1,000 people were scammed. In a short time, Stanley Eliot Tan (Head of Golden Rock Representative Office) and Cheng Kwok Ping Patric (CFO of Golden Rock) mobilized and appropriated nearly 10 million USD and then absconded.

Just over a month ago, the People's Court of Dong Nai province tried Nguyen Thi Minh Phuong and her accomplices for using computer networks and telecommunications networks to commit property appropriation in a manner similar to Lion Group's operations.

Accordingly, Phuong had participated in many websites that raised capital. However, these websites later collapsed, Phuong lost all her money, and she did not know where the website owner was. Phuong then came up with the idea of ​​establishing a similar website to scam. She opened a company and created the website hero8.org. Wherever Phuong went, she created the cover of a successful businesswoman with a wealthy family background specializing in fashion, gold, silver, and gemstones, and real estate projects. Those who contributed capital to do business through the website hero8.org would receive high interest rates. Phuong and her accomplices offered an investment solution based on the ID pin code. Those who wanted to contribute capital had to buy an ID pin code for 10.16 million VND, of which the ID pin code fee was 2.16 million VND, and the capital contribution of 8 million VND would receive profits. In just a few months, 3,784 people in 56 provinces and cities across the country have registered with nearly 21,000 ID codes. The total amount of money hero8 has received from those who paid to register for ID codes is nearly 124 billion VND...

Many people attended Lion Group meetings in Nghe An.

According to the principal of the primary school in Thanh Chuong district, many teachers in the district have lost money in the past by participating in similar types of capital mobilization multi-level marketing, but it is unclear why many people still participate in Lion Group. Most recently, when the leader of the illegal capital mobilization group named Gold Time was arrested by the Ministry of Public Security, a series of teachers in Thanh Chuong lost all their money, including teachers at the Thanh Chi Secondary School who lost up to 600 million VND. In the list of people participating in Lion Group's capital mobilization multi-level marketing, there is even the vice principal of a primary school in Thanh Chuong.

When reporters asked about the case of the Lion Group's multi-level capital mobilization group leader in Thanh Chuong who is an employee at Thanh Thuy Primary School, Mr. Nguyen Dang Toan - Principal of the school said that he would work directly with her to handle the matter. "I also heard that many teachers in the school participated in multi-level capital mobilization, but when asked, everyone denied it. In meetings, I also regularly emphasized that teachers are prohibited from participating in multi-level capital mobilization because the Department and the Office have also issued documents prohibiting teachers from participating in this," Mr. Toan said.

According to the recommendation of the Nghe An Department of Industry and Trade, regardless of the name, the capital mobilization methods of Lion Group are very risky for investors, if not to say fraud. Therefore, people should stay away when being enticed to invest.

On November 1, the Investigation Police Agency (Nghe An Provincial Police) said that the unit had just received a series of complaints about fraud and property appropriation related to multi-level capital mobilization similar to Lion Group. Accordingly, many people reported that they were cheated out of money when investing in sites such as BBONUS.NET; mfcclub.com; mfcclub.net; mfcclub.info; eunex.co of foreign companies such as MBI and BBI.