51 arrested in Vietnam over 'holiday contract' scam at Metaland

Ho Chi Minh City police have expanded their investigation into a large-scale fraud scheme, arresting 51 additional people associated with Metaland Company. The arrests are part of a crackdown on a scam involving the sale of fake "holiday contracts."

The police identified the company's operations as a significant component of a broader criminal enterprise. Metaland allegedly lured victims by promising lucrative returns and benefits from vacation packages, employing sophisticated psychological manipulation and deceptive sales pitches.

Investigators detailed a structured process used by Metaland, starting with telemarketing to invite potential victims to promotional events. During these events, sales teams presented fabricated benefits of the holiday contracts, such as high rental yields and substantial investment returns, to pressure individuals into purchasing.

The investigation revealed a hierarchical structure within Metaland, with key figures managing different aspects of the operation, including finance, sales, and human resources. This organized approach facilitated the systematic defrauding of customers.