Nguyen Thi Khuyen, Tâm Lộc Phát executives face fraud charges over VND 1.38 trillion scheme

The Hanoi People's Prosecutor’s Office has filed charges against three senior executives of Tâm Lộc Phát Group—Chairwoman and CEO Nguyễn Thị Khuyên (b. 1983), Deputy CEOs Văn Đình Toàn (b. 1982) and Bùi Thị Minh Nguyệt (b. 1968)—for "fraud and appropriation of assets" under Article 174 of the Penal Code. The prosecutors say the trio founded the company in September 2020, renamed it in December 2022, and increased its charter capital from VND 20 billion to VND 100 billion, yet never contributed capital or conducted any legitimate business.

Through a Ponzi‑style scheme, they solicited public investment in up to 12 tiers ranging from VND 5 million to VND 5 billion, promising monthly returns of 9.6 % (interest 2.93 %). Over 16 branches and 10 offices in 22 provinces, they signed 39,622 investment contracts with roughly 17,427 victims, collecting about VND 5,148 billion. After deducting 10‑15 % commissions, the group retained about VND 4,170 billion, paid back VND 2,790 billion, and left roughly VND 1,380 billion unrecoverable. The investigation identified 785 victims with complete personal details. The case has been forwarded to the Hanoi People's Court for trial.