Hanoi police expose Ravi tourism fraud scheme

Vietnam's Hanoi police have identified the company Ravi Investment Development Tourism Joint Stock Company as a central player in a large-scale vacation‑card fraud. Investigators have approved charges against 201 suspects across 25 cases and linked 27 companies to the scheme. Ravi, founded on 9 February 2022 with an initial capital of VND 60 billion, later doubled its charter capital to VND 120 billion. Its major shareholders include Nguyễn Thành Trung (53%), Trần Đạo Tú and V.O.I Investment Group (combined 20%), Nguyễn Đức Hưng (5%) and Vũ Tuấn Lâm (2%).

The fraud operation targeted mainly elderly customers, luring them to seminars with free travel vouchers and then pressuring them to buy "ownership of vacation" contracts priced between VND 200 million and VND 900 million for terms of 5 to 40 years. Promises of high resale profits and large commissions for sales staff were used to secure deposits. When purchasers demanded fulfillment, the firms delayed or avoided obligations. Police raids on 18 June covered 196 locations, seizing assets worth about VND 680.3 billion, including cash, bank accounts, vehicles, real estate and savings books. The total criminal proceeds are estimated at over VND 2.7 trillion.