Prosecution of the group leading the TCIS virtual currency multi-level marketing ring in Phu Tho

Phu Tho police dismantled the TCIS virtual currency multi-level fraud ring, arrested the ringleader and prevented major losses to the people.

Phu Tho Provincial Police have just announced that the Phu Tho Provincial Police Investigation Security Agency has issued a decision to initiate a criminal case and prosecute the defendant Nguyen Chanh Dang (born in 1986, residing in Vinh Hoi Ward, Ho Chi Minh City) for the crime of "Violating regulations on multi-level marketing". Dang is the leader of an illegal multi-level marketing ring disguised as an investment in the digital currency TCIS.

Also prosecuted for the above crime are Doan Van Manh (born in 1993, residing in Tam Dao commune, Phu Tho province) and Tran Minh Nhat (born in 1977, residing in District 10, Ho Chi Minh City).

Police conducted a search at the scene

Through professional work, the Department of Cyber Security and High-Tech Crime Prevention, Phu Tho Provincial Police discovered a group of subjects in Hanoi and Ho Chi Minh City with signs of organizing illegal capital mobilization through the website https://tcis.ai and the digital currency TCIS. This group used a multi-level model to take money from later participants to pay earlier participants for the purpose of fraud and property appropriation.

Realizing the extremely serious nature and sophisticated tricks of the fraud group, on July 30, Phu Tho Provincial Police established a special project to combat and destroy it.

Major General Nguyen Minh Tuan - Director of Phu Tho Provincial Police directly took the statement of the ringleader Nguyen Chanh Dang in the criminal gang.

Police took statement from suspect Tran Minh Nhat.

The police agency proceeded to take the statement of the subject Doan Van Manh.

The investigation determined that on August 9, the subjects organized a seminar with about 200 people at Ao Vua tourist area, Suoi Hai commune, Hanoi city to promote and attract many people to invest in TCIS currency.

Major General Nguyen Minh Tuan, Director of Phu Tho Provincial Police, directly directed hundreds of officers and soldiers to simultaneously search the conference venue.

The working groups quickly identified the ringleaders, accomplices and clarified the criminal acts; at the same time, they propagated, explained and warned those present at the workshop about the tricks and methods of fraudsters, hiding under the guise of multi-level marketing and digital currency investment. Thereby, helping many people to awaken and preserve their personal assets.

The promotional seminar had successful foreign businessmen come to present, but they were actually hired subjects.

Initial investigation results determined that Nguyen Chanh Dang was the ringleader. Dang hired others to create the website https://tcis.ai and the digital currency TCIS to mobilize capital from investors.

On the website, Dang posted information about "TCIS Technology Company" as a computer technology company in Canada, with a representative office in Hanoi city with loud promotions: researching quantum computer technology, Blockchain, developing TCIS tokens with hundreds, thousands of times more value.

In fact, Dang has no connection with “TCIS Technology Company” in Canada, is not licensed by the competent authority to open a representative office in Vietnam, the TCIS system created by Dang has no actual production and business activities. The source of money to pay TCIS investors is from their own money and from the money of later participants.

Police conducted a search at the scene.

To commit the crime, Dang's group created the digital currency TCIS (no circulating value) and then used many tricks to promote, entice, and attract many people to participate.

Dang hired Doan Van Manh and Tran Minh Nhat along with many other people to help develop the market and manage finances; hired foreigners to act as successful businessmen to give presentations at seminars and groups organized by Dang in all provinces and cities across the country to entice and attract many people to participate.

Evidence of the case.

Although it only started operating from June 2024 to July 2025, Nguyen Chanh Dang and his accomplices called on thousands of people to create more than 4,000 accounts with a total investment of more than 2 million USDT, equivalent to more than 50 billion VND. Dang used the money he appropriated from investors to trade on the Forex and Crypto exchanges.

The task force is continuing to expand the investigation to clarify the group of fraudulent acts of property appropriation to strictly handle them according to the provisions of the law.

Phu Tho Provincial Police call on those involved and victims in the case to report to the Investigation Security Agency to protect their rights according to the provisions of the law. At the same time, advise people to: Be vigilant against invitations to "invest in digital currency", "huge profits" or "disguised multi-level marketing". Unusually high profits are the sweet trap of scammers.

The case was quickly discovered, promptly stopping the group of criminals, preventing thousands and tens of thousands of people from being lured and enticed into becoming victims.

Source: https://khoahocdoisong.vn/khoi-to-nhom-cam-dau-duong-day-da-cap-tien-ao-tcis-tai-phu-tho-post2149046239.html