Vietnam police prosecute massive holiday‑contract fraud scheme

Vietnamese police have charged dozens of suspects in a nationwide fraud that sold so‑called “holiday ownership” contracts. In Ho Chi Minh City, investigators indicted 21 cases involving 187 defendants, while Hanoi police announced 25 cases with 201 defendants, including senior managers and sales staff of the company Holidays Vietnam. The scheme enticed customers to sign contracts for vacation packages, ultimately affecting about 17,000 contracts and an estimated loss of more than VND 181 billion (over US$7 million). One employee, Nguyen Thi Kim Anh, told investigators she pursued sales to meet targets and apologized to victims. The investigation has also identified money‑laundering activities, with two suspects formally charged, and is probing the possible involvement of lawyers and law firms that may have facilitated the scheme. Victims are largely elderly, and in some cases the contract signatories have died, prompting police to advise relatives to submit documentation for restitution. Authorities warned the public to be wary of high‑return investment offers and urged anyone suspecting similar frauds to report them.