Vietnam businessman Mai Hà Trang charged with large‑scale investment fraud

On 12 June, Hanoi police announced the indictment of Mai Hà Trang (born 1988), chairman of the board and chief executive of CCV Group, on charges of fraud and asset misappropriation. Investigators found that between 2021 and 2023 the company solicited investment from the public, promising exceptionally high monthly returns of 3 %‑7 % and promoting projects ranging from herbal‑plant cultivation to cosmetics and health supplements. More than 2 000 investment contracts were signed, raising about 1 030 trillion VND (roughly US $43 million). Most of the funds were not used for the advertised businesses; instead they were used to pay earlier investors, cover commissions for recruiters and finance personal expenses. By April 2023 the firm could no longer meet its profit promises, prompting the police investigation. Authorities are expanding the case and will pursue further charges under the Vietnamese Penal Code.