Vietnam police detain Lâm Huệ Mi over alleged 2.7‑billion‑dong savings fraud

The Cà Mau provincial police in Vietnam have placed 31‑year‑old Lâm Huệ Mi under temporary detention while investigating a large‑scale fraud involving rotating savings groups (hụi). Authorities say Mi organized 23 such groups between 2022 and 2024 and created fictitious savings portions, impersonating members to collect contributions.

Investigators allege that more than 2.7 billion Vietnamese dong was taken from participants, with at least 1.4 billion dong siphoned from three victims through the sale of phantom shares. The police have formally charged Mi, initiated a criminal case, and warned the public to verify the legitimacy of any savings scheme.

The case highlights ongoing concerns about informal financial arrangements and the need for stricter oversight under Vietnam’s 2019 decree governing savings groups.