Used to be a TV presenter

On March 6, the Hanoi Police Department of Investigation Security announced that it had initiated a case and prosecuted Ho Quoc Than (born in 1992, residing in Con Cuong district, Nghe An province) for the crimes of "Fraudulent appropriation of property" and "Possession of counterfeit money". Previously, Hanoi Police searched the headquarters of Trieu Nu Cuoi Joint Stock Company and Than's house due to signs of fraud with the method of calling for investment in QFS coins.

Ho Quoc Than started out as a student majoring in television journalism. Before founding Trieu Nu Cuoi Company, Ho Quoc Than was the General Director of Invest TV Joint Stock Company.

According to research, Invest TV Joint Stock Company, formerly Tuva Media Joint Stock Company, was established in July 2018, with an initial charter capital of 2 billion VND. Initially, when the company was established, another person was the legal representative of this company.

In March 2020, Ho Quoc Than officially appeared as the legal representative of Invest TV Television Company. From this position, Ho Quoc Than has cooperated with many major partners in communications, advertising, even aviation training, etc.

Ho Quoc Than
Mr. Ho Quoc Than.

Ho Quoc Than was nominated by the Voting Council of Business Style Magazine to be honored in the Top 100 Business Style 2020-2021 award with the title "Pioneer in developing investment TV channels".

On his personal Facebook page, Than also introduced himself as the founder, holding many important positions in many businesses.

Ho Quoc Than's ambition is growing. In 2023, Than established Trieu Nu Cuoi Company, polishing his reputation by always introducing himself as the founder and Chairman of the Board of Directors. The company's charter capital according to the business license is 25 billion VND.

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Headquarters of Million Smiles Joint Stock Company. Photo: HY

Talk about morality, rent a house, drive a luxury car to gain trust.

Trieu Nu Cuoi is introduced as a company with a vision to become a leading pioneer in Vietnam. The company's website also clearly states: "With the motto of doing real things, Trieu Nu Cuoi Joint Stock Company always carries out its words and actions in the most practical way". Trieu Nu Cuoi Group builds a diverse ecosystem with investment models, supporting projects on both material and spiritual life for the community.

Around mid-April 2024, Ho Quoc Than started to operate on Zoom to share the issuance of the QFS TNCVN quantum coin. In fact, this is a coin issued by Than, not related to cryptocurrency.

To be eligible to participate in the Triệu Nữ Cười ecosystem, individuals must pay a "support" fee of 4-5 million VND/QFS coin, and businesses must pay 39 million VND/QFS coin.

In order to attract investors, Ho Quoc Than advertised that QFS coins are guaranteed by the legacy of families left over for hundreds of years, assets in 48 countries and will be activated in October-November 2024. Than promoted that he has a huge source of assets, heritage, gold reserves... from the "Headquarters"; businesses will be supported with capital to restructure and develop without having to mortgage or pay interest.

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Ho Quoc Than has appointed his brother Ho Quoc Duc (in blue shirt) as Deputy General Director of the company. Photo: YH

The body envisions that when owning this virtual currency, people will receive interest from owning 1 QFS coin to 10 QFS coins, from 10 QFS coins to 100 QFS coins. If for any reason, individuals or businesses do not want to continue participating with the company, they will be refunded and receive interest.

To improve his reputation, Than directed the issuance of “Social Security Cards” with a prepayment of VND 2.6 million. During 1 year, customers can come to buy promotional products, free of charge, with an amount of VND 500,000/week (every Saturday and Sunday). The card is not limited by geography and is valid after 30 days from the date of purchase. The company has issued about more than 2,000 social security cards.

The company also opened the Triệu Nữ Cười chain of stores and put 36 stores into operation in Hanoi and many provinces and cities across the country. These stores sell consumer products such as food, groceries, etc.

To sell more social security cards to people, Than organizes livestreams on social media platforms and Zoom to teach morality and humanity...

Documents show that Ho Quoc Than had no job, but to polish his reputation, he rented houses and locations for his company headquarters in luxurious places, and used luxury cars to gain the trust of investors.

Verification results show that the cash flow in Than's and Trieu Nu Cuoi Company's accounts mainly comes from "support" activities through QFS coins.

When money is transferred, Than continues to transfer it to the accounts of many different individuals and uses it for many purposes.

By the time the police got involved, about 100 businesses and nearly 400 individuals had bought QFS coins, with a total value of tens of billions of dong.

Ho Quoc Than, General Director of Trieu Nu Cuoi Joint Stock Company, has just been prosecuted for two crimes: "Fraudulent appropriation of property" and "Possession of counterfeit money".