On 7/9, the Hanoi People's Court sentenced Vu Ngoc Cuong, 33, from Yen Tu commune, Ninh Binh province, to 14 years in prison for property fraud. He received an additional three years six months for forging seals and documents of agencies and organizations, totaling 17 years six months behind bars.

The indictment revealed Cuong lacked stable employment and had a prior conviction in 2021 for property fraud, serving 27 months in prison.

In 9/2023, Cuong met Ms. Tuyen, 50, through the Zalo group "Chemgio xastress," a social group for casual chatting and stress relief. During group meet-ups and meals, Cuong observed Ms. Tuyen's financial comfort and her interest in depositing savings, which prompted his fraudulent scheme.

Cuong introduced himself as a bank employee, assuring Ms. Tuyen he could secure favorable interest rates for her savings deposits or bank loans. Trusting Cuong, Ms. Tuyen contacted him in 11/2023 for assistance with her savings. Cuong claimed standard bank interest rates were only around 5% per year, but he could arrange for his "boss" to approve a 7,4% annual rate. Ms. Tuyen agreed to this proposition.

Defendant Vu Ngoc Cuong at court. Photo: Danh Lam

To execute his plan, Cuong opened an account for Ms. Tuyen, but he registered his own phone number for internet banking services. This allowed him to receive one-time password (OTP) codes and account balance notifications without her knowledge.

Cuong then hired someone online to forge savings books for Ms. Tuyen, complete with her personal information and the promised interest rate. Over the last seven weeks of 2023, Ms. Tuyen made four transfers to Cuong, totaling 3,2 billion VND.

Suspicion and exposure

During the period she entrusted Cuong with her savings, Ms. Tuyen requested to install the bank's mobile application on her phone to monitor her account balance. Fearing exposure, Cuong lied, claiming the application was not compatible with large deposits like hers.

When Ms. Tuyen downloaded the application herself and was prompted for a password, Cuong falsely stated she needed to visit the bank branch to obtain it.

Her suspicions growing, Ms. Tuyen visited the bank four months later with her savings books for verification. She discovered that no such books existed in the bank's system, and her account held no money.

Realizing Cuong had defrauded her, Ms. Tuyen devised a plan to force his confession. She informed him she had lost six savings books and would go to the bank to reissue them herself. Fearing the truth would be revealed, Cuong offered to handle the reissuance, then again hired someone to forge six new savings books, which he presented to her. Undeterred, Ms. Tuyen insisted Cuong accompany her to the bank to withdraw money. Faced with this demand, Cuong finally confessed.

Additionally, Cuong had borrowed 800 million VND from Ms. Tuyen, promising to "pledge" 120 square meters of land to repay all the borrowed and defrauded money. This promise initially prevented her from reporting him to the police.

However, the land in question had already been sold by Cuong's parents to another party. To buy more time, Cuong asked his parents to sign a land transfer document for Ms. Tuyen, claiming he needed to raise funds. Hearing their son mention the possibility of imprisonment, Cuong's parents, "out of love for their son," agreed to comply, according to the indictment. Cuong later repaid an additional 200 million VND before disappearing again, prompting Ms. Tuyen to report him to the police.

Investigating authorities determined Cuong's parents were unaware their son's debt to Ms. Tuyen stemmed from fraud, so they were not deemed accomplices or prosecuted.

*Victim's name changed

Hai Thu