The initial investigation findings determined that in December 2020, Hoang Nam established PFS Financial Investment Joint Stock Company and was granted a Business Registration Certificate by the Ho Chi Minh City Department of Planning and Investment with the head office address at 770 Quang Trung Street, Ward 8, Go Vap District, Ho Chi Minh City. The company also has a representative office in the North at 26 Galaxy Village, Van Phuc, Ha Dong, Hanoi.
PFS Company operates in the field of providing financial – banking loan advisory services and lending in the form of unsecured, secured, and asset collateralized loans. For the asset collateralized lending operation, PFS company has been granted a certificate from the competent authority for the business qualification of pawn service.
During the operation process, Nam organized seminars to attract a large number of people to listen and call for investment in PFS Company. At the same time, he promised to use the investors’ money to lend to individuals and organizations, thereby generating profits and paying this profit to investors at a rate of 2% – 6% per month, depending on the cooperation business contract signed with the company. When the contract expires, investors will be refunded the contributed capital.
To build trust, Nam also promised that as soon as investors deposited 100 million, the company would reward them with an equivalent of 0.5 “chi” of 9999 gold.
PFS Company does not cooperate with any unit or enterprise and uses the bank account number 5899999989999 opened at MBBank to receive money from investors.
After receiving money from investors, Nam used the investors’ money to repay profits to previous investors, pay salaries to employees, and pay office rent. The remaining money Nam used to repay debts and personal expenses and now no longer has the ability to repay.
During the investigation process, the investigating agency conducted a search at the headquarters of PFS Financial Investment Joint Stock Company and seized many business cooperation contracts signed by Hoang Nam with investors.
To serve the expanded investigation of the case and clarify the criminal behavior of the subject Hoang Nam, the investigation agency requests anyone who has been harmed to report, provide information, or contact the Hanoi Police District Public Security Investigation Agency.
