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| The Ministry of Industry and Trade has issued a warning about the multi-level business practices of a company called Dự án Hoàng Gia. — Photo nairobibusinessmonthly.com |
Viet Nam News
HÀ NỘI — The Ministry of Industry and Trade has warned about the multi-level capital raising practices of a company named Dự án Hoàng Gia (Royal Project), which showed signs of violating regulations on multi-level businesses.
Dự án Hoàng Gia advertised investment solutions with different packages worth anywhere from several million Vietnamese đồng to hundreds of millions.
When investing in Dự án Hoàng Gia’s packages, the company said participants would get their money back with returns, plus a sum for free consumption for 20 months. The total of the two sums would be much higher than the initial investment.
Advertisements about Dự án Hoàng Gia could be viewed on YouTube.
The investments were conducted via duanhoanggia.com. When accessing the website on Tuesday, the log-in interface appeared.
According to the ministry, no company or organisation with the name Dự án Hoàng Gia Trade and Investment Ltd or Dự Án Hoàng Gia Group Jsc was licensed to conduct multi-level business.
To avoid risks, the ministry recommended careful consideration before participating in the investment scheme, adding that its method of raising capital could be illegal.
According to the Penal Code, individuals or organisations operating multi-level businesses without licences could be subject to criminal punishment. — VNS
