Prosecution and temporary detention of General Director of multi-level marketing company

On April 21, the Ministry of Public Security's Investigation Police Agency announced that it had prosecuted and temporarily detained Nguyen The Anh, General Director of Phuc Gia Bao 868 Investment and Trading Joint Stock Company, to investigate the act of "Fraudulent appropriation of property".

Accordingly, the police arrested Nguyen The Anh on April 16, and searched his residence and workplace at the company.

Phuc Gia Bao 868 Investment and Trading Joint Stock Company (headquartered at 44/7 Do Quang, Trung Hoa Ward, Cau Giay District, Hanoi City) has been operating since September 25, 2015 under business license 0107006766.

The company has many branches across the country such as in Ho Chi Minh City (Tan Binh district), Nha Trang, Binh Dinh, Dak Lak, Nghe An...

Previously, on March 23, the Department of Investigation Police on Economic Management and Corruption Crimes (PC46) of Khanh Hoa Provincial Police received many petitions from people accusing Phuc Gia Bao 868 Investment and Trading Joint Stock Company, Nha Trang City Branch, of fraud, property appropriation, and capital mobilization in the form of multi-level marketing.

Khanh Hoa Provincial Police initially handled the case and recorded the statements of the accusers. Then, realizing that the company's activities were spread across the country, they transferred the case to the Ministry of Public Security.

According to the investigation agency, Nguyen The Anh introduced his company as an official partner of an American corporation, which is looking for business cooperation in the field of building a coffee system, red lingzhi mushrooms, building a chain of self-service mini supermarkets, building agricultural supply stores, building tourism tours and proposed investment cooperation with 2 investment levels: Package 36.6 million VND - total amount received after 6 months of investment is 126 million VND; Package 72.6 million VND - total amount received after 10 months of investment is more than 2 billion VND.

Investors can reinvest from the 6th month with the reinvestment level of 12 million - 100 million - 150 million and 500 million and enjoy an interest rate of 5%/year. Interest is taken monthly and the reinvested amount will be returned after 36 months.

The business cooperation is signed in a specific contract, signed by Nguyen The Anh and stamped by the company.

However, many participants did not receive any money. By using the trick of mobilizing capital with high interest rates, Nguyen The Anh defrauded the victims of an estimated amount of more than 300 billion VND.

The case is currently under investigation and is being expanded. The Ministry of Public Security calls on anyone who is a victim of Nguyen The Anh to contact Room 13 - C46 (Ministry of Public Security), phone number: 0683337888, 258 Nguyen Trai, District 1, Ho Chi Minh City to provide information./.

According to VNA