The Empty Promises of Lien Ket Viet

Lien-ket-viet-1_1

Top executives of the Hanoi based Lien Ket Viet were arrested last Saturday, March 12, 2016 for apparently swindling around 45,000 people in Vietnam involving pyramid scheme scams. Among those arrested were Lien Ket Viet’s Chairman of the Board, Le Xuan Giang and deputy general director Nguyen Thi Thuy.

Vietnam’s Lien Ket Viet
Lien Ket Viet was a Vietnamese marketing and trading company distributing dietary supplements and health care devices. Established in the year 2010, it has been granted a license to operate by Vietnam’s Ministry of Industry and Trade to operate as a multi-level marketing company in the year 2014. But various fraud were discovered when the company involved in its campaign Vietnam’s Ministry of National Defense to gain popularity and confidence from members and customers.
The products.
Among the company’s bestsellers were various types of dietary supplements that goes along with detox machines and other health aids for which some were later found out to be fake and does not necessarily offer any health benefits at all. The starter package for membership which costs around $384.85 were required by recruiters from its lured members.
The operation.
The company operates through a series of chain recruitment scheme requiring membership with an equivalent deposit to guaranty entry and access as the new members likewise do to their own recruits as they promised lucrative earning potentials selling and distributing the products. Recruiters promised members attractive bonuses and commissions as the company amassed around VND1.9 trillion or the equivalent of US $85.2 million from deposits of members that joined the company. Lien Ket Viet operates all over Vietnam with its 21 branches in 19 provinces.
Since last year 2015, thousands of members have claimed to be scammed by the company and demanded their deposits and earnings be returned to them at once.
Case updates.
Seven of the top executive officers of Lien Ket Viet were currently in custody to answer for the various fraud cases filed against them.

Leave a Reply

Your email address will not be published.