Saturday, July 11 2020

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Prime Minister calls for enhancing efforts to root out fraud

Update: June, 01/2020 - 08:16

 

Nguyễn Hữu Tiến speaks at one of the seminars organised by the company to lure investment before being arrested. – VNA/VNS Photo 

HÀ NỘI — Prime Minister Nguyễn Xuân Phúc has urged ministries, agencies and localities to strengthen measures to prevent and tackle fraud.

Recent cases of fraud to misappropriate people’s property have caused public concern in sectors including finance, banking, real estate, multi-level trading and e-commerce, with cyber fraud in particular on the rise.

Scams allegedly orchestrated by firms led by a group of fraudsters in HCM City are one example.

The supposed mastermind of the group has been named as Nguyễn Hữu Tiến, 36, residing in Bình Chánh District of HCM City. Tiến was chairman of Thiên Rồng Việt and OTCMAX Company.

Tiến was allegedly assisted by Phạm Việt Sơn, chairman and director-general of VNCOIN Co. Ltd., in HCM City, Nguyễn Hồng Quân, the company’s IT technician, and Phạm Thị Phương Thư, the company's employee.

According to investigations, from December 2015 to July 2018, Tiến, Sơn, Quân and Thư opened companies named Thiên Rồng Việt, OTCMAX, VINCOINS and ALLUNEE. They reportedly provided false information to lure investors with promises of high returns.

They set up websites to advertise their businesses, as well as handed out leaflets and organised seminars and conferences to build a reputation and attract investment.

They stopped paying, but appropriated investors’ money, according to the police.

With the above tricks, Tiến and his accomplices are thought to have scammed 10,126 investors and stolen more than VNĐ40 billion. Investment of more than VNĐ460 billion (US$20 million) was poured into their companies.

The investigation agency under the Ministry of Public Security believes Tiến and his accomplices used the internet, phones and other electronic tools to appropriate property.

Police have begun legal proceedings against the four people.

To prevent and tackle the fraud and ensure social security and order, the PM requested ministries, agencies and People's Committees of provinces and cities to intensify dissemination and inform people of the typical characteristics of fraud to raise their awareness.

The MoPS was told to work with other ministries and localities to review shortcomings in State management on security and order and loopholes in legal documents relating to fraud to misappropriate property.

Ministry of Justice was ordered to direct departments of justice in localities to strictly deal with property fraud, protecting the rights and interests of the State, organisations and individuals.

The PM entrusted the Ministry of Information and Communications to work with the MoPS, the State Bank of Việt Nam and other agencies in strengthening supervision of websites and social network accounts of organisations and individuals that have committed acts of mobilising capital illegally, advertisement of goods on websites or social networks to prevent fraud.

The Ministry of Industry and Trade was asked to enhance State management of multi-level trading and work with relevant agencies to detect violations and deal with them promptly.

The MoPS was asked to guide authorised forces to launch a campaign to prevent and combat cyber fraud.— VNS

 

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