187 Charged in Vietnam's 'Holiday Contract' Scam

Hanoi police have launched a major crackdown on a widespread scam involving 'holiday contracts,' initiating 21 criminal cases and charging 187 individuals. The investigation, announced on June 17, targets companies accused of defrauding nearly 500 victims out of more than 181 billion Vietnamese dong (approximately $7.1 million USD). Authorities revealed that the accused companies exploited the 'holiday contract' business model to deceive customers. Simultaneously, police in Ho Chi Minh City conducted searches and arrested dozens of people involved in similar large-scale fraudulent sales of holiday ownership packages. The Ministry of Public Security has issued a warning, stating that various organizations and individuals have been using the 'holiday contract' scheme to commit fraud and seize assets. Typical tactics involve enticing victims with prize notifications or free travel vouchers, then pressuring them into signing contracts and making large payments during hotel or resort seminars. The ministry identified two primary fraudulent methods: selling holiday ownerships to seize funds and transferring ownerships to defraud victims, emphasizing that these companies do not actually sell, transfer, or rent out holidays as promised.