Vietnam police dismantle large‑scale holiday‑contract fraud scheme

Police in Ho Chi Minh City and Hanoi announced the crackdown on an organised network that sold fake holiday‑contract packages. The investigations led to the filing of 24 cases in Hanoi and 11 in Ho Chi Minh, with nearly 400 suspects detained. Authorities seized more than 5,500 contracts and froze assets worth up to VND 3 trillion (about US$130 million). Most victims were middle‑aged or elderly savers who were lured by promises of high returns, attractive travel benefits and guaranteed resale values. The scheme used dozens of shell companies and hired young telesales staff who earned commissions on the money taken from customers. Some victims lost billions of dong; one case reported a loss of VND 8.5 billion from 42 contracts. Investigations are ongoing, with police urging the public to report any similar offers.