$35m on Miners Funds Took CEO to the Sky

Newsweek has reported the disappearance of Sky Mining’s chief executive officer, taking with him $35 million in client investments.

This company is based in Vietnam, and since July, its director Le Minh Tam has been missing.

Sky Mining had assured that it was going to rent miners, promising a return of up to 300% a year. And, those who decided to invest would keep these machines for more than a year; all this at a value between 100 and 5,000 dollars to the investors, these investors accepted, and about 5,000 of them made the transfers before the CEO disappeared.

When a group of people who invested in these machines went to look for them, they were amazed when they find that the facilities of the company were empty, and of course, the devices were not there either. Then, the CEO proceeded to excuse himself by saying that this was because he had to sell everything he had since the company had losses to get some money back and that he disappeared to protect his life.

Le Minh Hieu, Sky Mining’s executive vice president, is sure that what the executive director did was escape by stealing all the funds and that he moved to the United States, even when Le Minh Tam claimed he would return. As expected, some clients filed lawsuits against the company, but it is not yet known whether they will get their refunds.

According to VnExpress (a Vietnamese news agency), Le Minh controls and supervises every move of the company, reviewing all transactions and with full control of the funds. The vice president tried to run the company during Tam’s absence, but he could not because he and his family were threatened and he was forced to close the company.

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Ana (@coinjive) has been involved in the crypto industry for more than a year now. She was working for three ICOs (as a PR / and CMO). And prior to dive into the blockchain reality, she served as a Communication manager for big tech and less tech companies (including SAP, Evernote, Avon and, etc.). Currently, she works as a contributor at Future Times and as ICO analyst for a private Israel-based crypto venture capital firm. P.S. please agree to accept a dash of subjectivity. Coinjive is run by a human after all.