Falling into the capital contribution trap to earn high interest rates

Drawing up “virtual” projects and committing to paying high interest rates up to 72%/year, some financial companies have attracted many “prey”.

Investors flocked to the headquarters of PFS Financial Investment Joint Stock Company to demand money.

For more than a month now, Ms. NTN (54 years old, Hoang Mai, Hanoi) had to bring curtains and mats to eat and drink at the headquarters of PFS Financial Investment Joint Stock Company (at Galay Van Phuc building, Van Phuc ward, Ha district). Dong, Hanoi) because the money that is her inheritance contributed capital to the company is in danger of losing everything.

Ms. N said that at the beginning of 2023, she brought 5 billion dong of her savings and deposited it at a bank on Han Thuyen Street (Hai Ba Trung District, Hanoi). When she went to the bank, a bank employee named T. suggested that she split the money in half to deposit it at a “familiar” financial company on the grounds that the interest rate was much higher than the bank and that the customer wanted to withdraw at the time. whatever.

Then, this person took Ms. N to see Mr. Hoang Nam, General Director of PFS Financial Investment Joint Stock Company (referred to as PFS Company). Here, Mr. Nam pledged to pay interest of 6%/month on the total deposit. Interest will be paid on a monthly basis and allows Ms. N to withdraw money at any time.

“At that time, the staff of T bank made a firm commitment, so I contributed 2.7 billion VND and 10,000 USD to the company. But they offered a contract with the content of business cooperation. I wonder why. For this content, Mr. Nam explained to facilitate transactions, it is important that the interest and principal pay the commitment. Thinking that I only contributed 1-2 months and then withdrew to build a house, I did not follow up anymore. Mrs N said.

Since signing the contract, PFS has not paid interest as committed. Tired of waiting, Mrs. N arrived at the company and discovered many similar cases of being stuck. “I asked to withdraw the money, but so far I have not been able to. Now I call, text, Mr. Nam does not answer the phone, “Mrs. N said.

According to the reporter’s research, PFS Financial Investment Joint Stock Company was established in December 2020. PFS company offers extremely attractive bonuses for referrals. Referrals who contribute from 5 billion VND or more will be rewarded 5% of the total amount and receive a salary of 50 million VND/month. From 1 billion VND to less than 2 billion VND, the commission is 3.5%, salary is 15 million VND/month…

Ever got into a scandal?

In 2019, Bac Binh Trading and Service Investment Joint Stock Company advertises investment and business in high-tech clean agricultural complex project chains in the provinces of Bac Ninh, Ninh Binh, Thanh Hoa, Nghe An ; building herbal pig farms, organic bran production plants and distributing clean pork to many provinces and cities across the country.

To raise capital, the company commits to paying a high interest rate of 2%/month to investors. Mr. Ta Huu Yen (Ninh Binh City) said that at that time, he contributed 2.3 billion VND, but in the end the company did not pay interest and principal as committed, but ran away.

According to Mr. Yen, the group of investors in Ninh Binh city alone, Bac Binh Trade and Service Investment Joint Stock Company has stood out to raise capital contribution of nearly 24 billion dong. The project of Bac Binh Investment Services and Trading Joint Stock Company is ultimately virtual.

Reporters tried to contact Mr. Hoang Nam, General Director of PFS Financial Investment Joint Stock Company many times but to no avail. At the company’s office in Galay Van Phuc building, Van Phuc ward, the company has removed the sign and is no longer operating.

Information to reporter Tien Phong, an officer of the Investigation Police Agency, Ha Dong District Police said, had received complaints from people. The unit is in the process of investigation and clarification.