Director of financial company defrauded more than 300 billion VND
Director of PFS Financial Investment Joint Stock Company - Hoang Nam stated that he promised investors to pay interest rates from 1.5% to 6%, depending on the time. But when the company needed more capital, they paid higher interest rates.
On the afternoon of February 20, Ha Dong District Police (Hanoi) announced that they had initiated a criminal case and prosecuted Hoang Nam (born in 1979, hometown Ninh Binh City, Ninh Binh Province) to investigate the crime of Fraudulent appropriation of property.
At the police station, Hoang Nam confessed: “I promised investors to pay interest from 1.5% to 6%, depending on the time. Sometimes it was 1.5%. But when the company needed more capital, they paid higher interest. However, the operation was difficult, so I used the capital for the wrong purpose,” Hoang Nam confessed.
Initial investigation results determined that in December 2020, Hoang Nam established PFS Financial Investment Joint Stock Company and was granted a Business Registration Certificate by the Department of Planning and Investment of Ho Chi Minh City.
PFS Company operates in the field of consulting support for financial and banking loans and lending in the form of credit, mortgages, and asset pledges.
During the operation, Nam organized seminars that attracted many people and called for investment capital in PFS company; at the same time, he promised to use their money to lend to individuals and organizations, thereby generating profits and paying investors at a rate of 2% - 6%/contributed capital/month, the term depending on the business cooperation contract signed with the company. When the contract expires, investors will be refunded their contributed capital.
To create trust, Nam also promised that immediately after investors deposit 100 million, the company will pay a bonus equivalent to 0.5 tael of 9999 gold.
PFS Company does not cooperate with any unit or enterprise, and uses account number 58999999989999 to receive money from investors.
After having the money, Nam used the money from the later investors to pay the profits to the previous investors, pay the salaries of the employees, and rent the office. Nam used the remaining money to pay off debts and personal expenses, and is currently unable to pay it back.
