Holidays Vietnam Co., Ltd. investigated for vacation contract fraud

The Ho Chi Minh City Police Economic Crime Investigation Division (PC03) is investigating a fraudulent scheme involving “vacation contracts” operated by Holidays Vietnam Co., Ltd. Authorities are calling for individuals who signed contracts or paid money to the company to come forward to assist in the investigation and protect their legal rights.

Investigators found that the company operated under the guise of investing in tourism, resort services, and healthcare. Employees reportedly attracted customers through seminars, offering gifts, accommodation vouchers, and flight tickets, while promising high profitability. To build trust, staff used videos, catalogues, and a dedicated mobile application to showcase a network of luxury hotels and resorts.

When customers attempted to settle accounts, transfer contracts, or recover capital, employees allegedly used deceptive tactics to prevent them from leaving or to convince them to pay more money. These tactics included staff members posing as co-investors or claiming that foreign partners or other clients were interested in buying contracts at high prices, though these transfers never occurred. On June 17, authorities officially initiated a criminal case for “fraudulent appropriation of assets” and indicted 12 suspects.