Sunday, 5/4/2026 | 00:10 GMT+7

Owner of VAMC auction company accused of defrauding 52 billion VND

Tran Tan Hoang, owner of VAMC auction company, was identified for falsely claiming authorization from enforcement agencies to auction multiple assets, defrauding one individual of over 52 billion VND.

On 4/4, the Economic Police Department (PC03) of Ho Chi Minh City Police expanded its investigation into Hoang, 44, for property fraud. They urged victims to come forward to protect their rights.

Tran Tan Hoang at the time of his arrest. *Photo: Police provided*

According to the case details, from 5/2019, Hoang established VAMC Auction Company. The company underwent several name changes, including Tien Phong Company, Hoang Phat, and Trung Tin. He hired Nguyen Trung Tin, 36, as director and legal representative to manage auction sessions.

Investigators determined that from 2/2020 to 1/2022, Hoang, needing money to pay debts, provided false information. He claimed VAMC Company was authorized by enforcement agencies to auction numerous assets.

Consequently, Hoang defrauded one individual into depositing nearly 53 billion VND to purchase six auctioned assets. Hoang failed to fulfill his commitments, misappropriating the funds for personal use. Additionally, police have received multiple reports from other victims, alleging they were defrauded by the owner of this auction company.

Police urged Hoang's victims to contact the PC03 department at 14-16 Doan Nhu Hai, Xom Chieu ward, to report their cases.

Nhat Vy

By VnExpress: https://vnexpress.net/chu-cong-ty-dau-gia-hop-danh-vamc-bi-cao-buoc-lua-52-ty-dong-5058646.html

Tags: fraud Ho Chi Minh City VAMC asset auction auction company

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