How much did Fun Coffee claim its assets and team size to be?

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Fun Coffee Claimed Assets Exceeding US$1 Billion and a Team of Over 5,000

A 49-year-old woman has been arrested in Singapore as part of an investigation into the Fun Coffee investment scheme, which allegedly promised high returns and commissions. The scheme, which operated through an application requiring participants to transfer Tether (USDT) cryptocurrency, has reportedly left individuals unable to withdraw their funds. The arrested woman is accused of actively promoting the scheme and recruiting new members.
Alleged Financial and Human Resources of Fun Coffee

Fun Coffee, reportedly based in Phu Quoc, Vietnam, asserted that its assets surpassed US$1 billion, equivalent to approximately S$1.28 billion. Furthermore, the company claimed to employ a workforce exceeding 5,000 individuals. These figures were part of the company's purported standing before the current investigations.
Regulatory Action and Potential Penalties in Singapore

The Singaporean police arrested the 49-year-old woman on August 6 under the Multi-Level Marketing and Pyramid Selling (Prohibition) Act. This legislation prohibits pyramid selling schemes. If found guilty, the individual could face a maximum of five years in prison, a fine of up to S$200,000, or a combination of both penalties.
Wider Impact and International Arrests

Beyond Singapore, authorities in Hong Kong and Macau have also apprehended eight individuals in connection with the Fun Coffee scheme in the preceding week. The scheme is reported to have caused losses of nearly HK$100 million, or about S$16.3 million, to approximately 200 people across these regions. One Singaporean victim disclosed an investment of around S$400,000, from which no recovery has been made.

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How much did Fun Coffee claim its assets and team size to be?

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