On the afternoon of 3/9, Lieutenant General Nguyen Quoc Toan, Chief of Staff of the Ministry of Public Security, announced that in the case involving Huan Hoa Hong, investigators have indicted 5 defendants on two charges: violating accounting regulations causing serious consequences and fraud to appropriate property.
Huan and his wife are accused of operating a business on the TikTok platform with an estimated total revenue exceeding 300 billion VND. They allegedly failed to issue value-added invoices and kept revenue off their accounting books.
Investigators also allege that Huan exploited his social media influence, regularly posting articles and images on Facebook and Zalo. These posts contained false and untrue information, claiming he knew the daily lottery results in advance.
Many individuals believed his claims and transferred money into 9 of Huan's personal accounts. They expected to receive information about lottery numbers with a high probability of winning. However, when they did not win and demanded refunds, Huan refused to return their money.
Investigators accuse Huan of appropriating over 3 billion VND from 1/2019 to 5/2019.
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Huan Hoa Hong flaunts money on social media before his arrest. Photo: *FBNV*. |
In mid-August, Huan was indicted and temporarily detained. The charges include fraud to appropriate property, under Article 174, clause 4, and violating accounting regulations causing serious consequences, under Article 221, clause 3 of the Penal Code.
In the same case, the Investigative Police Agency, Ministry of Public Security, also indicted Hoang Ngoc Cuong, General Director of Chara Production and Trading Joint Stock Company; Truong Thi Thuong, Director of Tam Dai Moc Trading and Service Joint Stock Company; Pham Thi Ngoc Linh, Huan's wife and owner of Pham Thi Ngoc Linh business household; and Kieu Thi Hong, Cuong's wife. They are under investigation under Article 221, clause 3 of the Penal Code.
According to investigators, Huan also mobilized tens of billions of VND in charity funds from various organizations and individuals. There are signs that these funds were misused.
Vu Tuan
