CEO of a Vietnamese mining company takes off with $ 35 million

The CEO of a Vietnam-based cryptocurrency mining company has fled with more than $ 35 million in investor funds in what appears to be a new scam for Asia. 

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According to the Vnexpress report, Minh Tam, the CEO of the HoM Minh-based Sky Mining Cryptocurrency Mining Company, disappeared last Monday with the company’s funds.

Worried investors at the company’s headquarters in Phu Nhuan District found the building closed, the company’s plaque was removed and the company’s 600 mining machines were gone.

The fugitive CEO still bothered to write an apology on Facebook for his clients.  

The unpredictability of the market forces me to stay hidden from the public in order to protect my life.

The CEO’s message does not bode well for investors looking to recover their stake. The CEO himself fled with the company’s money and machines, leaving behind empty offices and employees on the floor. 

The company attracted investors by promising profits of up to 300%. Sky Mining claimed to be the largest cryptocurrency mining company in Vietnam.

When questioned, council members say they were betrayed by the CEO and set up a temporary office of 16 people to help investors find their money. Vice President Minh Hien said : 

The commission reported this leak to the police to prove that we are not guilty..

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