Vietnam busts Taiwan medicinal fungus multi-level marketing scam with 9,000 members

Police in Lang Son Province and their counterparts in HCMC, Dong Nai Province and the Ministry of Public Security announced the arrests of 12 individuals on May 21 for alleged violations in multi-level marketing operation.

The extensive network reportedly spans Vietnam, Malaysia and China and is run by people in Taiwan and mainland China and Vietnamese nationals of Chinese descent.

Leading the scheme is Huang Wen Yen, 47, a Taiwanese serving as the director of Ame Global. Yen allegedly oversaw sales of stout camphor fungus, a traditional Taiwanese medicinal product promoted both as a health enhancer and a financial growth opportunity.

Ame Global, headquartered in Taiwan, operates a subsidiary in Ho Chi Minh City named Win All.

It is not clear if Ame Global is the only or main business operating the scheme. But investigation found that participants were required to set up an account on the company's website www.ameglobal888.com and make an initial investment of VND15 million ($577) to acquire the fungus product.

Investors were promised bonuses of up to 10% of global revenues, capped at $1,000, and additional incentives for recruiting new members.

Since April 2024, the network has rapidly expanded to over 9,000 participants, more than 7,000 from Vietnam alone, with transaction values reaching trillions of dong. (VND1 billion equal US$38,500)

Authorities conducted multiple raids, confiscating vehicles, computers, mobile phones and fungus products as evidence.

The investigation continues as police unravel further details of this expansive international scheme.

 

 

Vietnam busts Taiwan medicinal fungus multi-level marketing scam with 9,000 members

Hơn 9.000 người tham gia hệ thống đa cấp do người nước ngoài điều hành