Monday, July 25, 2011

NEWSFLASH: State Bank of Vietnam joins TVI Express Investigation

According to reports in Vietnamese newspaper, State Bank of Vietnam have requested local authorities to look into TVI Express as a Ponzi / Pyramid fraud

Travel - Money: Capital mobilization against the law

Friday, 07/22/2011 22:19

State Bank will coordinate with the police to take measures to prevent this type of service "has just travel money"

As How the employee information, today, in many provinces, such as Hanoi, Ho Chi Minh City, Dong Thap ... there are some individuals and organizations use the Internet attract more people to pay commission to the participate as members of both clubs have travel money. This form of raising capital without interest, to be carried out through various forms of bonuses, high commissions ... in order to entice entice more people to participate. Through the capture of information, the authorities said the operation may cause risks to participants.
Warning prevention
Bank (NH) State of Vietnam has written request the State Bank branch in Dong Thap province (unit had to reflect this situation the State Bank) in collaboration with the authorities to investigate, clear signs of violation, taking advantage of the Internet draws people to contribute money illegally. NH State provides notice to the units and individuals within and outside the banking sector to actively prevent known.

In 2010, type "tourism has both money" is a company based in the U.S., trading via the internet introduced in Hanoi. Participants will set the type of room at the hotel for a luxury home and abroad, is the organizational unit level account on the web page with the name "virtual" to track the ranking of and receive their bonuses.
Recently, Ho Chi Minh City and many provinces also appeared several companies launched way, inducing people to pay the participating travel package (not traveling), and introduce many others to be thousand dollars reward. 
Japan Mr. Long, head of the Legal Vietnam Export-Import Bank (Eximbank), that reward companies for participating in tourism dollars is a violation of law. If companies sell travel products, but not organized for customers to travel, that means the signs of fraud ...
Talking to reporters Nguoi Lao Dong, Dao Minh Tu, Chief of the State Bank of Vietnam, said: "NH State will learn more about this phenomenon and will coordinate with the police to take action prevention "...
Will support the consumer complaints
Provide business around this behavior, the protection of consumers rights to know the city is monitoring the situation for years more. If receiving a reflection of consumers or the press, societies will offer to local authorities to investigate and clarify. If there are firm grounds to assert that the fraudulent appropriation of capital, associations can represent consumer lawsuits.
Back to the Company for TVIExpress (units are mentioned in the song "Losing money because of travel multi-level model" Nguoi Lao Dong newspaper on the day number 7-7-2011), Vietnamese Phan Thi Thu, General Secretary of Association Protecting consumer interests City, said: The company has "disappeared" in both Hanoi and HCMC. Planning - Investment and Taxation Hanoi guide complainants (Hoang Oanh) to court but the fact the company was "getting away" to the actions difficult. The Protection of consumer rights has also written HCMC People's Committee of Ho Chi Minh City and send a couple of State management agencies in the area informed about the case, thanks to government intervention.
The law only allows banks, credit organizations to mobilize deposits from the population.Even companies   raise capital through the issuance of bonds must also comply with the provisions of the Enterprise Law. Therefore, an organization that has no function but receive funding in the form of people selling tourist packages (actual DN   for non-commercial travel services) and pay awards, commissions violate law.
Dao Minh Tu (NH State Office of Vietnam)
Thy Tho - Thanh Nhan

Enhanced by Zemanta

No comments: