Hanoi police seize 683 billion dong in large vacation‑contract fraud

Hanoi police have frozen assets worth nearly 683 billion dong and halted transactions on two New Era‑registered properties valued at about 150 billion dong—a hotel in Quảng Ninh and a 5.6‑hectare plot in Ninh Bình. The authorities have opened 25 criminal cases and charged 248 individuals linked to a scheme that sold so‑called “holiday ownership” contracts, promising high resale returns that were never delivered.

The fraud operation used multiple companies and a legal‑advisory firm to solicit victims through seminars and phone calls, collecting deposits, brokerage fees and additional payments. Funds were diverted to staff salaries and personal expenses. The investigation continues to identify other participants and recover victims’ money.