# Ho Chi Minh City financial crime investigations

> Developing situation record from CLSTR: https://clstr.news/situations/ho-chi-minh-city-financial-crime-investigations
> Updated: 2026-11-09T02:35:47.000Z. Sources: 10. Developments: 3.

Authorities in Ho Chi Minh City have taken action against various fraudulent schemes involving usury, deceptive business practices, and social media manipulation. Police prosecuted 36 individuals for usury after discovering organized black credit rings that operated under the guise of legitimate jewelry and clothing rental businesses. These groups allegedly used deceptive tactics, such as converting loans into gold to sign “asset rental contracts” or splitting interest into various “service fees,” to hide interest rates that exceeded 500% per year. In one instance involving entities D. P. Gold and T. V. Gold, the group reportedly provided loans totaling over 10 billion VND.

Police also arrested Nguyen Tuan Hiep, known as “Hiep den,” and 13 accomplices for orchestrating violent social media content. Hiep, the owner of Hong Hanh Hotel, allegedly used platforms like Facebook, YouTube, and TikTok to post staged videos of fights and weapon use to build a criminal reputation. Hiep has been charged with three specific offenses: illegal dissemination of information on computer networks and telecommunications, usury in civil transactions, and illegal possession of military-grade weapons. Following this, police dismantled a real estate fraud ring led by Nguyen Hoai Phong.

Recent developments in the investigation of Hiep’s network include the prosecution of Nguyen Son Lam and Lam Duy Bao Son, also known as “Son mat quy.” Nguyen Son Lam admitted to wearing fake gold jewelry in social media videos to project a false image of wealth, which he claimed helped facilitate illegal lending connections. Lam faces charges of illegal information dissemination and usury, while Lam Duy Bao Son has been charged with illegal information dissemination.

## Timeline

### 2026-11-09: Ho Chi Minh City police investigate online criminal ring

Police in Ho Chi Minh City are investigating a criminal ring involving illegal lending and misinformation on social media.

3 sources. https://clstr.news/cluster/ho-chi-minh-city-police-investigate-online-criminal-ring

### 2026-10-30: Ho Chi Minh City police warn of livestream and real estate scams

Ho Chi Minh City police are warning against livestream pearl opening scams and a real estate fraud ring using deceptive low-price advertisements to lure investors.

2 sources. https://clstr.news/cluster/ho-chi-minh-city-police-warn-of-livestream-and-real-estate-scams

### 2026-10-22: Ho Chi Minh City police dismantle black credit ring

Ho Chi Minh City police have prosecuted 36 people for usury after uncovering black credit rings using gold and clothing rental businesses to hide interest rates exceeding 500% per year.

10 sources. https://clstr.news/cluster/ho-chi-minh-city-police-dismantle-predatory-gold-leasing-ring

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Cite as: Ho Chi Minh City financial crime investigations. CLSTR, https://clstr.news/situations/ho-chi-minh-city-financial-crime-investigations