More than 500 Vietnamese have been duped into joining and losing a hefty amount of money to a fraudulent ‘how to get rich’ scheme run by an unsuccessful businessman who claimed to hold a PhD. Pham Thanh Hai, 52, managed to swindle more than VND476 billion (US$20.97 million) from 508 people by encouraging them to invest in ‘lucrative businesses’ that would yield easy money, according to the Hanoi People’s Procuracy. Prosecutors have finished their probe into the case and decide to file charges against Hai for “swindling and appropriating assets” as per the Penal Code. Failed businessman turn ‘teacher for rich-wannabes’ Hai used to be the chairman and CEO of a private company called IDT, registered and headquartered in Hanoi. The company had been struggling with its internet-based business until 2008, when Hai decided to take advantage of its legal entity to mobilize investment from individuals for his personal purpose. He then set up a website and social media page called ‘hoclamgiau.vn’ (Learn to get rich), and organized different conferences on the theme to lure people into investing in his bogus projects. Hai then introduced himself as a PhD with extensive experience in doing business in the former Soviet Union, encouraging people to pour money in several highly remunerative investments run by IDT. Even though IDT did not conduct any real business, Hai promised to pay his ‘investors’ interest rates of 40-50 percent a year, and offered high commissions of up to 10 percent to those who introduced new members… [Read full story]
Talking Shop (27-11-2008) New list to spotlight top 500 Vietnamese firms VietNamNet online newspaper and Vietnam Report this week announced a list of the top 500 Vietnamese companies,VNR500. Viet Nam News reporter Van Nga talked to Vu Dang Vinh, Vietnam Report's CEO on the newly-announced list and VNR500's impact on the business world. How did VNR500 come in to being? The objective is to establish a list of the Viet Nam's top 500 enterprises to popularise them among domestic and foreign investors, businessmen and consumers. We also want to draw a picture that strengthens the position of large enterprises in…... [read more]
The Vietnam Report Joint Stock Company (Vietnam Report) officially announced the list of top 500 Vietnamese companies in 2010 (VNR500) and presented insignia to the winners in Ho Chi Minh City on January 15. This was the fourth consecutive year the VNR500 was announced to recognise and honour achievements made by the Vietnamese business community. The Vietnam National Oil and Gas Group (PetroVietnam) topped the list of five largest State-owned enterprises, followed by the Vietnam National Petroleum Corporation (Petrolimex), the Electricity of Vietnam (EVN), the Vietnam Posts and Telecommunications Group (VNPT) and the Vietnam National Coal Mineral Industries Holding Corporation…... [read more]
CPV: The annual 13th fundraising titled "An evening of smiles 2011" will be held by the Operation Smile Vietnam at the Sofitel Hanoi Hotel on March 5. The information was released by the Operation Smile Vietnam at a press conference in Hanoi on February 18. Paintings donated by domestic and foreign artists will be auctioned at the event under thechairmanship of Mr Rob Blain, CEO Asia Pacific, CB Richard Ellis. Mr Nguyen Viet Phuong, Head of Operation Smile Vietnam said the fund will help to sponsor surgeries for about 500 Vietnamese children. The Operation Smile Vietnam plans to offer free…... [read more]
Mr David said Mr Dung’s visit is an important event marking a new step of development between the University of London and Vietnam. Mr Dung expressed his delight at visiting the world’s long-standing and renowned university while stressing that educational and training development is one of Vietnam’s top priorities towards building it into an industrial country by 2020. Over recent years, he said Vietnam’s universal education has been keeping pace with the international community’s levels while its tertiary education and vocation training still lag far behind developed countries’ levels. The Vietnamese Government wants to boost educational cooperation with developed countries,…... [read more]
The Vietnam Report Joint Stock Company (Vietnam Report) announced the list of top 500 Vietnamese companies in 2010 (VNR500) and presented insignia to the winners in Ho Chi Minh City on Jan. 15. This was the fourth consecutive year the VNR500 was announced to recognize and honor achievements made by the Vietnamese business community. The Vietnam National Oil and Gas Group (PetroVietnam) topped the list of five largest State-owned enterprises, followed by the Vietnam National Petroleum Corporation (Petrolimex), the Electricity of Vietnam (EVN), the Vietnam Posts and Telecommunications Group (VNPT) and the Vietnam National Coal Mineral Industries Holding Corporation Ltd…... [read more]
