Hanoi Police announced on June 19 that prosecutors had approved charges against a total of 201 suspects in 25 cases connected to an alleged "holiday contract" fraud scheme.
However, authorities believe the scale of the case could be significantly larger. Investigators have identified 27 companies allegedly involved and, through analysis of company records and data, found that approximately 17,000 holiday ownership contracts had been signed.
So far, investigators have recorded statements from nearly 500 victims, who reported combined losses of more than VND 180 billion (approximately USD 6.9 million).
Nguyen Thanh Tung, director of Hanoi Police, urged victims to report their cases to local commune and ward police stations or directly to Hanoi Police investigators to protect their legal rights.
The suspects in the case (Photo: N.T.).
According to Hanoi Police, authorities have received numerous complaints in recent years concerning tourism companies suspected of fraud through the sale and transfer of "holiday cards" and "holiday ownership contracts".
Preliminary findings indicate that between 2023 and 2025, the suspects established 27 companies and assigned specific roles, ranging from organisers and telemarketers to sales staff responsible for consulting clients and signing contracts.
The groups allegedly obtained customer information from former companies, developed sales scripts and offered commissions of between 2 per cent and 20 per cent to sales staff to encourage customers to purchase or transfer holiday contracts.
Their alleged scheme involved inviting people, mainly elderly customers, to conferences and seminars where they were offered free travel vouchers. Attendees were then introduced to holiday ownership packages priced between VND 200 million and VND 900 million (approximately USD 7,700 and USD 34,600), with contract terms ranging from five to 40 years.
Sales representatives allegedly promoted various incentives and made verbal promises about potential profits from transferring holiday ownership rights to other buyers. Many customers subsequently signed contracts and paid deposits.
For customers who had already purchased contracts, the suspects allegedly promised to broker transfers at prices several times higher than the original value. However, they required additional payments under various pretexts, including transfer guarantee fees and service upgrades. When customers later sought to enforce these commitments, the companies allegedly delayed or avoided fulfilling them.
By June 18, Hanoi Police had searched 196 locations linked to the 27 companies and seized numerous documents, computers and cash counting machines.
Authorities said they had temporarily seized or frozen assets worth approximately VND 680.3 billion (around USD 26.1 million), including cash, bank accounts, vehicles, property, savings books and other assets.
Investigators estimate that the total amount linked to the alleged criminal activities exceeds VND 2.7 trillion (approximately USD 103.8 million).
