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SINGAPORE – Plenty 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 practically 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 workforce of greater than 5,000.
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Investors had been inspired to pour cash into the agency’s coffee-based ventures utilizing cryptocurrency.
It claimed to make use of refined 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 lady in Singapore mentioned she invested about $400,000 within the espresso funding enterprise. The everlasting resident mentioned she had additionally roped in members of the family and associates 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 checking account. I do not know what to do,” the woman told Shin Min Daily News.
She said she was introduced in June 2025 to Fun Coffee by a friend, who sent her videos of events the firm organised.
In September 2025, she was told she could earn $100 if she got 10 friends to attend a company event. Each friend she brought would also receive $50.
She later downloaded the app and began investing.
Her investment initially paid off, and she received about $10,000 in returns, which she re-invested into the scheme.
On July 21, the woman’s friend, who is based in Hong Kong, told her she could no longer withdraw her money. Three days later, the woman experienced the same issue.
The woman then decided to make a police report.
Fun Coffee, which operated at several locations in Hong Kong, had promised significant returns, advertising annual returns of between 197 and 278 per cent, reported South China Morning Post.
The company entered Singapore sometime in 2025. According to its Singapore website, Fun Coffee is a “life-style model combining espresso, wellness and digital innovation right into a neighborhood expertise”.
Checks by The Straits Times show that the firm was incorporated in Singapore on Feb 3, with its registered address listed as 202 Jalan Besar.
ST visited the shop on Aug 7 and found a coffee vending machine at the entrance. Handwritten instructions were next to the machine, with directions on how customers can scan a QR code to make payment.
Although a male staff member was inside the shop, he declined to provide any assistance. Nobody was seen entering the unit.
As at Aug 7, Fun Coffee SG’s Facebook and Instagram pages have been taken down.
ST has contacted the police for comment.
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