Trần Tiến Đạt arrested for 12 billion VND real estate fraud

Gia Lai Provincial Police have arrested Trần Tiến Đạt, a man who allegedly posed as a real estate company director to defraud investors of approximately 12 billion VND.

Between 2022 and 2024, Đạt reportedly used his position to form a brokerage and investment team. Two investors from Hanoi, identified as H. Q. L. and N. H. H., provided 80% of the investment capital, totaling 12 billion VND, based on his representations. Following the acquisition of shared land plots, Đạt allegedly transferred the properties to third parties and used them as collateral for bank loans to fund personal expenses.

Đạt has admitted to the crimes. Authorities are currently expanding the investigation to identify other involved individuals. The police have requested that any victims or persons with relevant information contact the Gia Lai Provincial Police investigation agency.