On 6/8, the Ho Chi Minh City Police's Criminal Police Department arrested Nguyen Minh Hien, 34, for alleged fraud and appropriation of property.

Investigations revealed Hien connected with numerous individuals via social media, posing as a bank officer to gain their trust. He then falsely claimed the bank had real estate and automobiles available for liquidation at low prices, enticing victims to invest jointly to make a profit.

Convinced by his scheme, many individuals transferred funds, resulting in Hien misappropriating over one billion VND, which he used to pay off debts and for personal spending.

Ho Chi Minh City Police urge any of Hien's victims to come forward and report the incident. They also issued a public warning: banks process collateral assets transparently and according to regulations, not through private capital contributions or transfers to personal accounts.

Nguyen Minh Hien at the investigative agency. Photo: Ho Chi Minh City Police

Pham Hai