According to VTV, the Bigbuy24h e-commerce floor of owner Nguyen Van Anh is currently being accused by a series of fraudsters, occupying billions of dong. With the invitation to refund 100-400% of the product value, this e-commerce floor has attracted a large number of participants, opening dozens of agents across the provinces and cities nationwide.
Statement of association with Vinfast
Not only refunding for small value products, but Bigbuy24h also declares discounts and refunds to buyers when dealing with goods of great value, up to several hundred million dong, typically Vinfast cars.
At the end of 2019 in early 2020, when the game was not revealed, a series of Bigbuy24h representative office fan pages posted that this business had a joint venture with Vinfast to help buy a car with refund.
This is also the time when Vinfast has just launched the interest-free policy for the first 2 years for customers buying cars of the company. According to the official announcement, customers need to pay in advance the corresponding amount from 20% of the car value, the remaining 80% will be paid gradually in the following years. Particularly for the first 2 years, the owner does not have to pay interest.
Meanwhile, Bigbuy24h announced that if buying through this e-commerce floor, customers will be supported to borrow 70% of the car value, the first 2 years without interest. Worth mentioning, the remaining 30% amount is fully discounted by Vinfast through this e-commerce floor, paid daily.
For example, Vinfast Fadil car has a listed price of VND 465 million, buyer borrows 70% bank loan (equivalent to VND 270 million), the remaining VND 195 million is discounted by 0.2% per day.
Bigbuy24h office in Bac Ninh announces the association with Vinfast, but the name of the partner is misspelled as “Vinfat”?
In order to reinforce the trust of the participants, Bigbuy24h announced the image of “the first owners” at several representative offices.
In addition to Vinfast, in November 2019, Bigbuy24h signed a cooperation agreement “financial solutions for customers buying VM Motors cars” with Sao Phuong Nam Trading Construction and Investment Joint Stock Company (SPN); Shinbank Finance Company.
The cooperation method is quite ambiguous. Specifically, SPN buys VM Motors vehicles and sells them to end-user customers such as a car business partner of VM Motors. Then based on the selling price of VM Motors to Sao Phuong Nam, this company will actively decide the amount (%) to refund to customers after buying cars. Refund to end-users is calculated using the formula: 3 times the amount based on the% refund rate determined by SPN. Refund time is 500 days and will be paid daily to your account on the Bigbuy24h electronic application. Thereby, customers can convert into cash or points, use them to buy other products through Bigbuy24h.
However, around June 2020, the converted accumulation points are being issued by the company SBcoin, meaning that cash withdrawal is almost impossible. Not only that, according to information on the Business Registration Portal, Shinbank Finance Company was just established in August 2020 and has now stopped working.
The last months of 2019 – the time of the most spectacular development, Bigbuy24h is not afraid to spend money on media. Notably, the awarding of the Vietnamese football team 300 million VND after winning 1-0 over Malaysia in the qualifying round of World Cup 2020 in Asia. CEO Nguyen Van Anh and many others also came to the place to take pictures with Coach Park Hang-Seo and captain Que Ngoc Hai.
Up to now, after a series of business problems and mistakes have been revealed, Bigbuy24h’s head office in Hanoi has stopped working, removing signboards. CEO Nguyen Van Anh, if before vigorously saying “users keep getting angry” and declaring “ready to return money”, now has deleted zalo friends with agents, can not be contacted. The Bigbuy24h application on the app store has also been rated a series of 1 stars.