Businessman arrested over pyramid scheme

The company, which was started in September 2015, had many branches across Việt Nam. Police of Khánh Hòa Province on March 23 received complaints from residents accusing Phúc Gia Bảo Company of fraudulence under a multi-level marketing platform.

According to the investigative unit, Nguyễn Thế Anh introduced his company as a partner of a US corporation seeking help building coffee shops, convenience stores chains and other establishments. He asked people who are interested to invest in his company, choosing between the VNĐ 36.6 million (US$1,600) or the VNĐ 72.2 million ($3,200) package. He also promised a rather high profit for such investment.

Many people invested, but they received nothing in return. Thế Anh was able to appropriate more than VNĐ 300 billion ($13 million).

The Ministry of Public Security is conducting further investigations and calls on victims of Thế Anh to provide information by calling 068 3337888 or coming to 258 Nguyễn Trãi Street, District 1, HCM City.