On 16/9, Ho Chi Minh City police arrested Son for investigation of fraud.

Le Tran Son at the police station. Photo: Police provided

The investigation revealed that Son had incurred substantial debt from failed land investments. To repay his debts, he fabricated relationships with bank executives, soliciting investments for lucrative cash withdrawal and credit card extension services, promising high monthly returns.

He rented an office to appear legitimate and then approached a 53-year-old woman in An Nhon Tay commune (formerly Cu Chi district) for investment. Initially, she invested 500 million VND and received weekly returns of approximately 20 million VND. Believing the investment was profitable, she subsequently transferred a total of 2.5 billion VND to Son in multiple installments.

Continuing his scheme, Son returned 200 million VND to the woman, claiming "investment profits" to build trust and encourage further investment.

During this period, Son also received 150 million VND from the woman for land documents and 350 million VND for a sand import venture from Cambodia. Early this year, Son began delaying interest payments, offering various excuses before disappearing.

Upon investigation, the woman discovered that Son's credit card services and sand business were non-existent; he had only rented an empty office. She then reported the fraud to the police. Aware of the investigation, Son surrendered.

Ho Chi Minh City police urge any other victims of Son to come forward.

Nhat Vy