By Quoc Thang  June 13, 2019 | 10:37 am GMT+7 Police seize mobile phones, laptops, tablets and other devices during the Wednesday raid on a house in District 9. Photo courtesy of HCMC Police. The Ho Chi Minh City police on Wednesday arrested 20 Chinese people for allegedly carrying out phone scams. Officers raided a house on Vo Van Hat Street in District 9 and seized 26 tablets, 46 mobile phones, six laptops, and three devices that were emitting sounds to make the place appear like a police station along with 200 documents related to the disguisement as police. The gang rented the house, installed sound-proofing equipment and randomly called numbers, pretending to be police officers and instructing victims to transfer money to local bank accounts. Initial investigations found that they called the victims home in China and disguised as police officers, accusing them of being involved in drug smuggling or money laundering and demand money which they … [Read more...] about 20 Chinese arrested by Saigon police for telephone scam
Scams ho chi minh city
Land buyers face risks from real estate scams in HCM City
Authorities in HCM City have warned about real estate projects that are making false advertising claims to cheat customers. Illustrative photo. Authorities in HCM City have warned about real estate projects that are making false advertising claims to cheat customers. Over the past two months, house and land prices in some outlying areas of Ho Chi Minh City have increased. The Phu Thuan Ward People's Committee in District 7 have just issued a dispatch to warn people not to buy, sell or transfer land in the Venica Garden project on Dao Tri Street. According to the committee, there have been online offers from the project on some social websites but in fact, there is no such project in the area. On some websites, the Venica Garden Project is alleged to cover 10,000 square metres with 118 land lots with prices of just VND 2.8 billion (USD121,739) a lot. The project is said to be invested by Kim Tay Nam Company. Following the dispatch issued by the committee, some websites have … [Read more...] about Land buyers face risks from real estate scams in HCM City
Thousands duped by cryptocurrency scams in Vietnam in 2018
In early April, dozens of disgruntled investors gathered in front of Ho Chi Minh City-based startup Modern Tech’s headquarters in HCMC, carrying signs accusing the company of duping them of an estimated VND15 trillion ($645.47 million). The company had enticed them to invest in its cryptocurrencies, including iFan and Pincoin. According to investors, Modern Tech guaranteed a profit of 48 percent a month, with a maximum payback period of 4 months. Successful referrals rewarded an additional 8 percent of the amount deposited by the new member. To build trust, iFan and Pincoin were billed as international cryptocurrencies originating in Singapore and India. Modern Tech introduced iFan as a virtual currency used for showbiz related services. However, just four months after it was introduced, iFan collapsed, leaving no international transaction value. Investors were left with portfolios supposedly worth VND15 trillion, but with no way to withdraw the money. Around 32,000 people were … [Read more...] about Thousands duped by cryptocurrency scams in Vietnam in 2018
MLMs undeterred by stricter laws
MLM systems are growing even as regulations are becoming more stringent Recently, the dossier of the Lien Ket Viet Company case, a multi-level company masquerading as a firm under the Ministry of Defence, has been sent to the People’s Supreme Court. This company was pretending to be a corporation managed by the Ministry of Defence to do business and conducted illegal activities, such as collecting a fee worth VND8.6 million ($374) from each person who wants to join its system, as well as holding conferences and presentations to disseminate false information. According to local media, Lien Ket Viet leaders always wore military outfits and boasted of relations with military generals, as well as forged documents and governmental merits. Accordingly, the company lured in over 66,000 members and collected VND2 trillion ($87 million). Numerous heads of offices and multi-level agencies will be subject to legal proceedings, with seven defendants being prosecuted and 34 heads … [Read more...] about MLMs undeterred by stricter laws
Nine gang members detained for harassing, cheating foreigners in Hanoi
The arrests were made after local media provided evidence of widespread harassment and price gouging in recent days at the pedestrian walking zone near the Hoan Kiem (Sword) Lake. Police said the group, six men and three women with no stable jobs, gathered around the tourist hotspot to polish shoes and sell snacks, but their modus operandi was to coerce unsuspecting foreigners and charge them exorbitant amounts. Four of the shoe-shiners had been arrested in 2016 and slapped with fines of $100 each for harassing and overcharging foreigners. They returned to their old ways soon, with the fines proving no deterrent. Calculated assaults The young shoe shiners, aged 20 to 30, would wander the area around the Hoan Kiem Lake and chose their “prey” well, typically targeting single tourists or foreign couples. They would approach a foreign man or woman suddenly, point at their sandals, and all but yank them off the foreigner’s feet. They would polish the footwear and do some … [Read more...] about Nine gang members detained for harassing, cheating foreigners in Hanoi