Monday,  Feb 18, 2019,07:56 (GMT+7) 0 0
Investors accuse Sky Mining director of fraud
The Saigon Times Daily
Tuesday,  Jul 31, 2018,16:43 (GMT+7)

Investors accuse Sky Mining director of fraud

The Saigon Times Daily

HCMC – A group of 300 people who had invested in cryptocurrency mining machines at Sky Mining wrote a letter to Phu Nhuan District’s police in HCMC on July 30, accusing Le Minh Tam, director of the business, of defrauding them of large sums of money, reported the local media.

Nguoi Lao Dong newspaper quoted Dung, one of the investors, as saying that the group had gathered some 300 petitions against Tam’s fraudulent activities, adding that other groups are also collecting many letters of accusation.

According to one of the letters, the investors were promised a refund of their initial investment and a rate of return of up to 300% after a year. The letter stated that the investors had signed a contract for capital contribution.

Another investor identified as Thanh said that the interest was paid on time in the initial stages, but the payments were delayed from June onward. He noted that the investors had not received any money since July 21, and that as many as 11,000 investors had poured their capital into the cryptocurrency mining business.

Thanh had invested US$75,000 in the cryptocurrency mining system in the hope of making quick bucks. He had insisted Tam appropriate investors’ assets.

A representative of Phu Nhuan District’s police agency confirmed that the police had received a letter from a group of investors against the boss of Sky Mining on July 30. The police agency had earlier received nine petitions and worked with four investors. It is further probing the alleged fraud.

The Sky Mining director had reportedly streamed live on July 29 to announce that he is currently in the United States for medical treatment, promising to return to Vietnam to manage the situation.

Meanwhile, the company’s main office at 202B Hoang Van Thu Street in Phu Nhuan District has been shuttered and its nameplate has been removed.

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Deputy Editor-in-Chief: Pham Huu Chuong
Managing Editor: Nguyen Van Thang.
Assistant Managing Editor: Pham Dinh Dung.
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