Vietnamese businessman Võ Xuân Trường arrested over $100bn rail proposal fraud

Võ Xuân Trường Mekolor high‑speed rail proposal €10 billion fraud arrest

Võ Xuân Trường, chairman and CEO of Mekolor Joint Stock Company, was arrested on 6 August 2026 in Can Thơ, Vietnam. He faces criminal charges for abusing democratic freedoms to infringe upon the interests of the state and the legitimate rights of organisations and individuals.

Trường had drawn national attention in 2025 by proposing a US$100 billion investment to build a north‑south high‑speed railway. Investigators say he later presented fabricated documents that claimed a €10 billion transfer from the German firm Immobilien Partner GmbH, routed through Deutsche Bank, into Mekolor’s account at VietinBank’s Can Thơ branch in June 2021. VietinBank’s internal audit found no record of such a transfer and warned of forged paperwork.

Undeterred, Trường sued the International Chamber of Commerce, accusing VietinBank and the State Bank of Vietnam of seizing the non‑existent funds. He also continued to disseminate false statements on social media under the alias “Philip Vo”. Police executed search warrants at his Ho Chi Minh City residence and Mekolor’s headquarters, seizing documents and other evidence related to the case.

Entities

Deutsche Bank · Government of Vietnam · Great USA · Immobilien Partner GmbH · Mekolor Joint Stock Company · Mekolor Joint‑Stock Company · North‑South high‑speed rail project · Vietinbank (Cần Thơ branch) · Vietnamese Government · Võ Xuân Trường

Claims

What the coverage asserts, and how many sources carry each claim.

[● 6 SOURCES] Võ Xuân Trường, chairman and CEO of Mekolor, was arrested on 6 August 2026 in Can Thơ, Vietnam. kevesko.vn · baoxaydung.vn · cafebiz.vn · news.tuoitre.vn · baochinhphu.vn
[● 6 SOURCES] He continued to post false information on social media under the alias “Philip Vo”. kevesko.vn · baoxaydung.vn · cafebiz.vn · news.tuoitre.vn · baochinhphu.vn
[● 6 SOURCES] Police executed search warrants at Trường’s residence in Ho Chi Minh City and Mekolor’s headquarters in Can Thơ, seizing documents and evidence. kevesko.vn · baoxaydung.vn · cafebiz.vn · news.tuoitre.vn · baochinhphu.vn
[● 6 SOURCES] VietinBank’s audit found no record of the €10 billion transfer and warned that the documents were likely forged. kevesko.vn · baoxaydung.vn · cafebiz.vn · news.tuoitre.vn · baochinhphu.vn
[● 6 SOURCES] He presented documents claiming a €10 billion transfer from German firm Immobilien Partner GmbH via Deutsche Bank to Mekolor’s account at VietinBank’s Can Thơ branch in June 2021. kevesko.vn · baoxaydung.vn · cafebiz.vn · news.tuoitre.vn · baochinhphu.vn
[● 6 SOURCES] He faces criminal charges for abusing democratic freedoms to infringe upon the interests of the state and the legitimate rights of organisations and individuals. kevesko.vn · baoxaydung.vn · cafebiz.vn · news.tuoitre.vn · baochinhphu.vn
[● 4 SOURCES] Trường proposed a US$100 billion investment to build a north‑south high‑speed railway in Vietnam. baoxaydung.vn · cafebiz.vn · news.tuoitre.vn
[● 6 SOURCES] Trường filed a lawsuit with the International Chamber of Commerce accusing VietinBank and the State Bank of Vietnam of seizing the non‑existent €10 billion. kevesko.vn · baoxaydung.vn · cafebiz.vn · news.tuoitre.vn · baochinhphu.vn