Victim Location 91104
Total money lost $47,224
Type of a scam Investment
Thai Pham, the CEO of Monarch Ventures Development Inc (also called Monarchy Mobility) stole my investment of almost $50,000. He claims to use investor money to buy cell phones in bulk from reputable mobile retailers, then resell them on the black market in countries where the phones are either illegal or in short supply. Because of the swift sell and resell of these phones, the return to a perspective investor is very high. The scam is that Mr. Pham will never send your initial investment or monthly payments to you.
For 6+ months he has sent me bounced checks, promised he would return my initial investment, and offered me fake incentives for more money. On a personal note, he sets meetings then skips out, promises he’ll call back then never calls and keeps such a disorganized system of paperwork that he can’t even remember how much he owes. Avoid this con-artist at all costs! He is dangerous.
I was also scammed by Thai Pham. He did the exact same thing to me. Like OP says, stay clear of this con artist.
Thai Pham is a scammer. He scams everything from seating tickets to electronics. He would take your money then will not deliver. You cannot get your money back unless you’ve used a credit card by reporting it as a fraud. He will not respond to texts or calls and a few days later will say his phone was dead or he was out of the area without service.