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Capel Company’s 150%/year profit: Get-rich-quick opportunity or cheese on a “rat trap”?

The company does not announce specific projects

If you pay money and sign a business cooperation contract with Capel Group Joint Stock Company (headquarters in Ho Chi Minh City), investors will have a profit of 150%/year, about 25 times higher than the bank’s interest rate. current goods. So Capel company What kind of business can pay such high profits?

On the Capel.vn website, this business introduces itself as a multi-industry company, focusing on real estate business. However, the Capel Company has not announced a specific real estate project is being implemented.

In a brochure sent to investors by brokers, Capel Company introduced the investment project to build “Eco-tourism area under the forest canopy” in Duong To commune, Phu Quoc city, Kien province. Jiang. However, according to a representative of the People’s Committee of Phu Quoc City, currently in the city there is no project bearing such name of Capel Joint Stock Company.

The Capel Company's 150% annual profit: A get-rich-quick opportunity or a piece of cheese on a mousetrap?  - Photo 1.

The truth is “terrible” profits from real estate projects of Capel . Company

According to a VTV reporter, Capel Company has received business capital contributions from investors since the end of 2019. More than 2 years have passed, so far the company has not announced information about specific projects that are currently underway. perform. However, it still advertises to investors that every year the company is still making a profit of 200-300% when investing in real estate.

The representative of Capel Company shared, the reason the company has such high profits is because it has the ability to acquire large land funds and then convert the use purpose.

“If I go to acquire a large land fund that can convert the use purpose from agricultural land, land for perennial crops to residential land, will it have x5, x10 time when it becomes a separate book?” representative of Capel Joint Stock Company said.

According to Mr. Nguyen Van Dinh – Vice Chairman of the Vietnam Real Estate Association, a real estate project normally takes a few years to deploy from procedures, site clearance compensation, to building infrastructure. infrastructure and the profit earned for the whole project is only about 20-30%.

Mr. Nguyen Van Dinh said: “Procedures, compensation, construction… a profit of 20-30% is already a success. There is no real estate project that doubles profit. Even the market has a fever phenomenon. land, but land fever is not in official projects, their fields and gardens are leveled and sold by themselves”.

Mr. Dinh also cited evidence that in 2019, 2020 there was a case where many investors were at risk of losing everything when investing in condotel resort real estate when the investor could not pay the profit as promised. the result is from 8 – 12%/year. Therefore, according to Mr. Dinh, with a profit as high as 150%/year of Capel Joint Stock Company promising to pay investors is a very unusual thing.

“We have proven that real estate that pays more than 10% interest every year has failed, then there is not a single case of more than 300% that can survive. This is definitely a 100% virtual story,” said Mr. Nguyen Van. Attach comments.

In fact, although it has implemented capital mobilization since the end of 2019, after studying the financial statements of Capel Joint Stock Company, in 2019, in 2020 and the first 3 quarters of 2021, this enterprise recorded has no revenue and has not paid any corporate income tax.

The Capel Company's 150% annual profit: A get-rich-quick opportunity or a piece of cheese on a mousetrap?  - Photo 2.

So when there is no revenue, where did Capel Company get the money to still be able to pay daily interest to investors and also pay a 6% brokerage commission to investors who bring in new investors? contract?

“There are only two amounts: One is that they take money from the previous people who have paid in to pay immediately for the new payer; the other is that their own money is paid into the company and the company cuts back to pay them back. Obviously. There is no other business that brings such quick and large profits.

However, at the peak of that trend, a lot of people put their money in and the risk of default could not get the money of one person to pay the other person immediately such companies declared bankruptcy, disappeared or ran away. hide. At that time, thousands of people will no longer know who to claim their money,” said Lawyer Bui Quang Hung – Head of the Law Office of the National Assembly and Associates.

The representative of Capel Company said: “We sign a contract, if the loan contract is different, then I borrow it and you have to pay it. There is no loan contract here, we do not borrow anyone, We come up with business solutions. That’s the cooperation, which in business cooperation the law stipulates: Success is shared together, failure is shared together.”

Sending money for business cooperation for any business requires a thorough understanding of what the business does, how the financial statements are, what the specific project is…. not simply seeing. high interest, high profit is to deposit money. By the time a risk occurs, losing all the money then regretting it is too late.

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