S’poreans amongst victims of alleged ‘Fun Coffee’ Ponzi scheme

SINGAPORE – Quite a lot of buyers in Singapore have made police reviews over an alleged Ponzi scheme involving Fun Coffee, a meals enterprise that originated in Vietnam.

It comes simply days after the authorities in Hong Kong and Macau arrested eight individuals in whole linked to a scheme that has seen 200 individuals lose almost HK$100 million (S$16.3 million).

Based in Phu Quoc, Vietnam, Fun Coffee claimed to have belongings of greater than US$1 billion (S$1.28 billion) and a crew of greater than 5,000.

Investors had been inspired to pour cash into the agency’s coffee-based ventures utilizing cryptocurrency.

It claimed to make use of subtle know-how together with brewing equipment and clever irrigation and fertilisation techniques, reported Asia News Network.

The agency’s app went offline on July 20, leaving buyers unable to withdraw their funds. The scheme collapsed in late July, the identical month when the authorities in Hong Kong deemed it a suspicious funding product.

A 48-year-old girl in Singapore stated she invested about $400,000 within the espresso funding enterprise. The everlasting resident stated she had additionally roped in members of the family and buddies as buyers.

“I feel very guilty, because I introduced them to this. I even invested all the money from my business (into the app).

“I now have about $80 left in my bank account. I don’t know what to do,” the girl instructed Shin Min Daily News.

She stated she was launched in June 2025 to Fun Coffee by a pal, who despatched her movies of occasions the agency organised.

In September 2025, she was instructed she might earn $100 if she obtained 10 buddies to attend an organization occasion. Each pal she introduced would additionally obtain $50.

She later downloaded the app and commenced investing.

Her funding initially paid off, and she or he acquired about $10,000 in returns, which she re-invested into the scheme.

On July 21, the girl’s pal, who is predicated in Hong Kong, instructed her she might now not withdraw her cash. Three days later, the girl skilled the identical concern.

The girl then determined to make a police report.

Fun Coffee, which operated at a number of places in Hong Kong, had promised vital returns, promoting annual returns of between 197 and 278 per cent, reported South China Morning Post.

The firm entered Singapore someday in 2025. According to its Singapore web site, Fun Coffee is a “lifestyle brand combining coffee, wellness and digital innovation into a community experience”.

Checks by The Straits Times present that the agency was included in Singapore on Feb 3, with its registered tackle listed as 202 Jalan Besar.

ST visited the store on Aug 7 and located a espresso merchandising machine on the entrance. Handwritten directions had been subsequent to the machine, with instructions on how prospects can scan a QR code to make fee.

Although a male workers member was contained in the store, he declined to offer any help. Nobody was seen getting into the unit.

As at Aug 7, Fun Coffee SG’s Facebook and Instagram pages have been taken down.

ST has contacted the police for remark.