According to further investigation result, from December 2015 to July 2018, Nguyen Huu Tien (born in 1984, residing in Binh Hung commune, Binh Chanh district, Ho Chi Minh City) and his accomplices (including Nguyen Hong Quan, Pham Viet Son, Pham Thi Phuong Thu) established the Thien Rong Viet Investment Joint Stock Company, OTCMAX, VNCOINS, and ALLUNEE Joint Stock Company. Then, they provided false information about such companies’ activities in order to deceive and entice investors.
These individuals created websites such as "thienrongviet.com", "otcmax.vn", "vncoin.vn" with the aim of promoting their companies. They also organized various events with the participation of a large number of people to gain their trust and promote their reputation. They often promised to pay high interests and commissions to those investing in their companies.
During the first phase of the operation, they took money from new investors to pay the principal and interest to the previous ones. Later, they did not pay anything to the investors and officially appropriated their investments.
With the above tricks, Nguyen Huu Tien and his accomplices scammed 10,126 investors and illegally took more than VND 40 billion from them.