Woman arrested in Da Nang for scamming acquaintance out of 700 million dong

A woman in Da Nang has been arrested for allegedly defrauding an acquaintance of 700 million Vietnamese dong (approximately $27,500 USD) through a fabricated business investment scheme. Pham Thi My Tuyet, 29, faces charges of fraud and appropriation of property.

Investigators state that between October and November 2024, Tuyet exploited her acquaintance with Mr. Nguyen Van T. by falsely claiming to hold shares in a company and soliciting investments in a cosmetics business. She promised monthly profits ranging from 7% to 8%.

Mr. T. reportedly transferred money to Tuyet multiple times based on her assurances. Tuyet then allegedly fabricated a story about a customs inspection and tax issues, claiming she needed funds to "resolve" the situation and secure inventory. Mr. T. allegedly sent an additional 700 million dong.

Authorities revealed that Tuyet's motive was to cover losses from her own cryptocurrency investments. She reportedly used the defrauded funds for this purpose and lost them. During questioning, Tuyet initially changed her statements but eventually confessed after being presented with evidence. The investigation is ongoing.