On 7/7, Thanh and Dinh Son Hai, along with 10 others, were arrested by the Economic Police Department (PC03) of Ho Chi Minh City Police for investigation into property fraud.
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Nguyen Danh Thanh, alleged mastermind of the fraud. Photo: Ho Chi Minh City Police |
Investigators describe this case as exceptionally large in scale. Thanh is alleged to be the mastermind, directly developing the policy and directing the entire sales scheme in Ho Chi Minh City. Hai, as sales director, was a key accomplice, responsible for implementing operations and directly managing sales teams.
PC03 simultaneously inspected multiple operating locations of Holidays Vietnam Co., Ltd. on Le Quy Don Street (Xuan Hoa ward), Ut Tich Street (Tan Son Nhat ward), and Pham Ngu Lao Street (Ben Thanh ward, TP HCM).
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Members of Holidays Vietnam company arrested. Photo: Ho Chi Minh City Police |
The investigation alleges that the company, run by Thanh, operated systematically, with a tightly organized process from customer outreach, workshop organization, and consultation, to contract signing. After customers fell victim, the suspects allegedly continued to use deceptive tactics, pressuring them to invest more money to appropriate assets. Nearly 10,000 'holiday contracts' with an estimated value of 900 billion VND were signed.
Police promptly implemented preventive measures, freezing assets and stopping transactions totaling approximately 130 billion VND.
Ho Chi Minh City Police are expanding the investigation and urge individuals who have signed contracts with branches of Holidays Vietnam Co., Ltd., or have been lured by similar schemes, to contact them to provide information.
In connection with 'holiday contract' scams, Ho Chi Minh City Police have arrested nearly 300 people to date and initiated investigations into numerous companies accused of embezzling over 2.6 trillion VND.
Authorities advise the public to be vigilant against invitations to invest, contribute capital, or purchase resort products promising high profits, quick returns, easy transfers, or large incentives. People should thoroughly research the legal status of businesses, project capabilities, and actual ownership before signing contracts and transferring money.
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Quoc Thang
