Vietnam Evangelical Covenant Church – The church office sends this high-return investment warning to the whole Covenant family, to help members stay alert to non-transparent fundraising schemes that are harming many people, including some in the Christian community.
Why Is the Church Sending This Warning?
Recently, the press reported on a fraud case in Hà Nội involving a company that invited people to invest in a ginseng-growing project. According to published information, between 2020 and 2023 the company signed thousands of investment, loan and share-sale contracts, promising returns of 24% to 48% per year, while the actual project was not as advertised. Investigators allege that the scheme used money from new investors to pay principal and interest to earlier ones in order to build trust. The unpaid amount runs to hundreds of billions of dong, with more than a thousand investors affected.
What grieves the church is that the head of the company was known to be a believer. This shows that no one can rely on the label “Christian” in place of careful checking.
The Church’s Serious Warning
Through this case, the church seriously warns its members: do not fall into get-rich-quick investment schemes that promise unusually high returns, especially 20% a year or more. Even if the person introducing it is an acquaintance, a friend, someone from the Christian community or even a member of our church, we must stay alert, check thoroughly and never let greed or gullibility drive our financial decisions.
5 Danger Signs to Watch For
Members should be especially wary of invitations like:
- “Guaranteed profits.”
- “No risk.”
- “High monthly interest.”
- “The sooner you invest, the more you earn.”
- “Many people in the church have already joined.”
These are often signs of non-transparent financial schemes. A legitimate investment always carries risk, has clear legal paperwork, and does not need time pressure or religious trust to persuade people.
What Does the Bible Say About Money?
The Bible does not teach that money is evil, but it clearly warns against greed:
“For the love of money is the root of all kinds of evil. By craving it, some have wandered away from the faith and pierced themselves with many sorrows.” (1 Timothy 6:10)
In the verse just before, the Apostle Paul writes that those who want to be rich “fall into temptation and become ensnared by many foolish and harmful desires” (1 Timothy 6:9). This warning was written nearly two thousand years ago, yet it still fits every “get rich quick” scheme today.
If You Have Already Joined
If members of Vietnam Evangelical Covenant Church have already joined a similar scheme, suffered losses, or suspect they are victims, please do not stay silent, feel ashamed or carry it alone. Please contact the pastor and the church office to be heard, advised and guided through the necessary steps.
Church office: Room 303, Building M2, Lane 18 Huỳnh Thúc Kháng, Đống Đa Ward, Hà Nội. Phone: 0942 248 688 (Zalo available).
A Prayer
May God give His people wisdom, alertness and an upright heart toward money. May the Lord keep every family from greed, naivety and dangerous financial traps. See other announcements in Church News.
Following in His footsteps,
The Office of Vietnam Evangelical Covenant Church
