On the afternoon of November 8, Da Nang City Police were present at the headquarters of GFDI Investment Consulting Company Limited (GFDI Company), located on 29/3 Street (Hoa Xuan Ward, Cam Le District, Da Nang).

According to VietNamNet, mobile police were assigned to provide security outside. Inside, many police worked with company employees. Security forces also temporarily sealed off the company headquarters.

An officer of Da Nang City Police said that the force is performing its duties and when there is specific information, it will be provided to the people and the press.

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Police present at GFDI headquarters

At the same time, a large number of people gathered at the GFDI headquarters waiting to talk to the company's leaders. Among the customers waiting were many old men and women.

Present at the company headquarters since noon, Mr. K. (living in Da Nang) said that at around 12 o'clock, Mr. Nguyen Quang Hoang, General Director of GFDI Company, was taken to the company headquarters by the police force.

Mr. K. shared that he invested in the company through a friend who is an employee here. He, his mother and sister invested a total of 2.5 billion VND in principal, for 2 years.

“At first, I planned to withdraw in April 2024 because I was a bit worried about the high interest rate, but my mother said to wait until 2025, when the interest will be nearly 4 billion VND, enough to buy a house, then withdraw. Now I might lose everything,” Mr. K. worried.

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A large crowd gathered in front of the headquarters, waiting to meet the company's leaders for a dialogue.

As reported by VietNamNet, on the morning of November 6, hundreds of people showed up at the headquarters of GFDI Investment Consulting Company after hearing the news that the company had temporarily suspended transactions across the entire system.

Many people reported that they contributed capital and invested in the company in the form of asset lending contracts. At first, the company paid very high interest, some people received interest of up to 50%/year (in 2020).

However, recently, interest rates have fallen further until news that the company has suspended trading has left hundreds of investors in a state of panic.

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Security forces temporarily blockaded the GFDI Company headquarters.

On the evening of November 5, social networks spread an announcement from GFDI Company about temporarily suspending transactions across the entire system, along with a heartfelt letter said to be from General Director Nguyen Quang Hoang.

According to the letter, GFDI’s main profitable investment segments are no longer generating expected profits. The company is reviewing, re-evaluating and will temporarily suspend investment projects that are no longer profitable to ensure the best management of customers’ capital. In the coming time, the company will delay payment for some of its customers’ investment contracts.

Suspecting that the company paying interest of nearly 50%/year is 'insolvent', investors surrounded the headquarters in Da Nang. On the morning of November 6, hundreds of people were present at the headquarters of GFDI Investment Consulting Company located on 29/3 Street (Hoa Xuan Ward, Cam Le District, Da Nang) after hearing the news that the company had temporarily suspended transactions across the entire system.