Vietnam's Capel Group leaders prosecuted for 420 billion VND fraud

The Ho Chi Minh City Prosecutor's Office has filed criminal charges against Lã Quốc Trưởng, former chairman of the Capel Group, and Vũ Đức Tĩnh, former director of a related service company. They are accused of fraud and money‑laundering after raising more than 702 billion VND from roughly 4,800 investors between February 2021 and April 2022. The scheme promised investors up to 300 % returns in two years and used frequent seminars and a multi‑level marketing model to sign nearly 8,000 investment contracts.

Prosecutors allege that after using part of the funds to pay early investors and give bonuses, the defendants misappropriated over 420 billion VND to purchase real‑estate, luxury cars and other assets, concealing ownership through family members and multiple accounts. Additional executives—Đỗ Doãn Năng, Hà Thị Nga and Nguyễn Hà Như Thụy—were also charged with the same offenses. More than 2,000 victims have filed complaints seeking compensation of over 269 billion VND.