Thien Ngoc Minh Uy has had its operating license revoked.
The regulatory agency decided to revoke Thien Ngoc Minh Uy's license following a series of violations committed by the company in its multi-level marketing business.
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"Over 2000 people from Nghe An province joined the Thien Ngoc Minh Uy multi-level marketing scheme."
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"I almost lost everything because of Thien Ngoc Minh Uy..."
On the morning of April 25th, leaders of the Competition Management Department (Ministry of Industry and Trade) announced that, due to violations in multi-level marketing activities, the regulatory agency has proposed revoking the multi-level marketing registration certificate of Thien Ngoc Minh Uy Company, based on the company's proactive request to cease operations.
The decision to revoke this license will be officially announced by the Ministry of Industry and Trade this morning (April 25).
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Thien Ngoc Minh Uy has been recommended to have its operating license revoked. |
| Regarding the activities of Thien Ngoc Minh Uy in Nghe An, the Nghe An Newspaper has published a series of articles in recent times.Exposing the wrongdoings of Thien Ngoc Minh Uy in Nghe An..In Nghe An province, Thien Ngoc Minh Uy's network is developing quite strongly. According to statistics from the Nghe An Department of Industry and Trade, in 2015, Thien Ngoc Minh Uy's "multi-level marketing" revenue in Nghe An was 26.927 billion VND, of which 11.402 billion VND was in the first six months and 15.525 billion VND was in the last six months. The number of people participating in the Thien Ngoc Minh Uy multi-level marketing scheme in Nghe An is 2,184; of which, 1,049 participated in the first six months of the year and 1,135 in the last six months. The total amount of commissions, bonuses, and other economic benefits paid by Thien Ngoc Minh Uy to participants in Nghe An is over 8.351 billion VND. |
Along with revoking the license, the agency fined Thien Ngoc Minh Uy more than 210 million VND for violations such as...The multi-level marketing participation contract with the participant does not include all the basic contents as required by law...
Thien Ngoc Minh Uy also failed to fully fulfill its obligation to provide basic training on multi-level marketing to its participants as required by law. This company also...Maintaining more than one multi-level marketing business code for the same multi-level marketing participant; kBusinesses selling goods with labels that do not contain the mandatory information required for the nature of the goods.
Furthermore, according to reports from the Departments of Industry and Trade, in 2016, Thien Ngoc Minh Uy Company, along with its agents and participants in multi-level marketing, committed 80 violations related to 13 acts stipulated in Decree 42 and relevant laws in 34 provinces and centrally-administered cities, resulting in total fines exceeding 1.5 billion VND.
Earlier in January, in an investigation report, the Competition Authority outlined eight violations by Thien Ngoc Minh Uy Co., Ltd. All eight violations, according to the Competition Authority, violated the regulations of Decree 42 on the management of multi-level marketing. For example, some functional food products had original labels that did not match the original labels registered with the Food Safety Department (Ministry of Health). The company showed signs of violating regulations on product labeling and circulating goods that did not meet the necessary conditions on the market.Thien Ngoc Minh Uy began to be investigated in late March last year following a series of complaints from customers who participated in this business network.
This company has also failed to provide basic training, issue training certificates, and grant membership cards for its multi-level marketing network to all active distributors as required by regulations. The inspection team discovered cases where distributors whose names were not on the company's list of those receiving basic multi-level marketing training were still issued basic multi-level marketing training certificates...
Due to the numerous violations committed by this notorious multi-level marketing company, the Competition Management Department then transferred the investigation file to C46 (Ministry of Public Security). Whether or not criminal prosecution would be pursued would be decided by C46's investigation.
Previously, Thien Ngoc Minh Uy had also been fined multiple times for violations in multi-level marketing, most recently...In December 2015, this company was also fined 170 million VND for trading in smuggled goods without documentation proving their legal origin.
According to VnExpress.net
