Ho Chi Minh City police warn of livestream and real estate scams

Police in Ho Chi Minh City have issued warnings regarding two distinct fraudulent schemes targeting consumers through social media and deceptive advertising.

In the first scheme, scammers use livestreams on platforms like Facebook and TikTok to host fake pearl opening events. Participants are encouraged to pay small fees, such as 688,000 VND, for the chance to find high-value pearls. Authorities state the broadcasts are staged, featuring fake comments and pre-arranged outcomes where participants are told they have won pearls worth billions of VND to lure them into further transactions.

In a separate case, police dismantled a real estate fraud ring led by Nguyen Hoai Phong, General Director of Bao Phuc Trading Service Co., Ltd. The group used deceptive advertisements on platforms like TikTok and Chợ Tốt to list properties at prices significantly below market value. When potential buyers contacted them, they were told the advertised properties were sold and were instead transported to different locations in Tay Ninh province to be pressured into purchasing different land plots.