SINGAPORE – His curiosity piqued when a neighbour told him in 2025 about the returns Fun Coffee was giving for investments, but Bryan Ho, who works in finance, found a number of red flags.
Ho, 40, said the company’s website was poorly done and he could not find details about its headquarters in Vietnam.
On its website, the company claimed to be based in Phu Quoc, Vietnam, with assets of more than US$1 billion (S$1.28 billion) and a team of more than 5,000.
It advertised annual returns of between 197 and 278 per cent, reported South China Morning Post.
Ho said that despite his suspicions, he attended a Fun Coffee event on Oct 20, 2025, at Kent Ridge. The organisers had promised a $50 cash reward for turning up.
Participants were instructed by a person named “Stella” over text to meet at Kent Ridge MRT and were later brought to a nearby open field.
Ho said about 10 to 12 people, who were mostly seniors, turned up for the event.
He said the group was asked to do “very primary school activities”, such as folding paper planes and relay races.
“It was very weird, childish and basic,” he said, adding that the organisers were filming videos and taking photos which were later posted on their TikTok channel. The images have since been taken down.
Participants of a Fun Coffee event on Oct 20, 2025, were instructed by a person named “Stella” over text.
PHOTO: BRYAN HO
Ho was right to be suspicious.
First came the news that the authorities in Hong Kong and Macau had arrested eight people for their alleged links to the scheme, which saw 200 people lose nearly HK$100 million (S$16.3 million).
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