I don’t know how much Organo Gold product Anh purchased to convince over 8600 investors to sign up, but it had to be a significant amount.
While (Anh) presented his companies as representatives of the Canadian firm, all he did was buy their products and offer it to investors for free. Which was taken down shortly after, because it was besieged by investors who had not received the promised returns.īetween his two companies Anh opened ‘ eighteen branches and to offices in 15 cities and provinces‘ across Vietnam. The company even managed to open up a supermarket at one point, Organo Gold logos and marketing materials were used at Anh’s company events, of which there were seemingly many held nation-wide. Anh presented his companies in public as “official marketing representatives” of Organo Gold proper. So how was Anh marketing Organo Gold openly in Vietnam from July 2015?Īnd this wasn’t some unknown backwater enterprise either. To begin with, Organo Gold didn’t officially open in Vietnam till December 2015. What I’m struggling with though is apparently nobody at Organo Gold knew this was happening? Officially Anh’s Ponzi scheme had nothing to do with Organo Gold. Now I know what you’re thinking (because it was my first impression too) Ok Oz, so this schmuck attached Organo Gold products to his own Ponzi scheme. Through that Ponzi scheme, which ran from July 2015 till collapse in February 2016, Anh and thirteen accomplices were able to convince around 8600 investors to invest over $13.7 million dollars. When that flopped, Organo Gold’s coffee was distributed through vouchers as a marketing incentive for a separately initiated Ponzi scheme. In return, partners would receive VIP coffee vouchers, invitations to important meetings, travelling packages, and interest of 24 – 80 percent a month.Īs I understand it Anh’s first company was basically his own Organo Gold distributorship. The second reiteration of Anh’s company, named Phuc Gia Bao Investment & Trading JSC (“868 company”), solicited investment via packages ranging from $540 to $1570. This venture did not do well, so The Anh called for business co-operation for marketing the Lingzhi Red Lucerne coffee. The company launched a multi-level marketing scheme for the Organo Gold coffee brand. Supposedly Anh ran his own MLM company, Phuc Gia Bao Investment Joint Stock Company (more commonly known at “68 company”), which relied heavily on convincing others it was part of Organo Gold. Authorities in Vietnam are looking to prosecute Nguyen The Anh (note that’s his name, not the word “the”), for orchestrating a $13.7 million dollar Ponzi scheme.