HCM City Police indict nearly 200 suspects over timeshare fraud rings worth US$23.2 million

The Criminal Investigation Agency of the Ho Chi Minh City Police has initiated criminal proceedings in 11 cases involving timeshare fraud and indicted nearly 200 suspects on charges of fraudulent appropriation of assets.

Those charged include directors, managers and employees of the companies involved. Investigators determined the operations were organised criminal rings that used legitimate-looking businesses as fronts.

The figures were announced on Friday, 19 June 2026. Initial findings indicate the suspects appropriated more than VNĐ612 billion, equivalent to about US$23.2 million, from those they targeted.

Searches have so far yielded more than 5,500 contracts, with investigators continuing to expand the inquiry, clarify each individual's role and trace the flow of funds.

Colonel Nguyễn Tiến Đạt, head of the Criminal Police Division of the Ho Chi Minh City Police, said the action followed directions from leaders of the Ministry of Public Security and the city police board to combat fraud and asset appropriation.

Specialised units coordinated with the Criminal Police Department under the Ministry of Public Security and commune-level police to review enterprises showing signs of exploiting tourism activities. From 10 June, the force conducted simultaneous inspections of numerous tourism and holiday-sector firms.

The companies named in the investigation include Happy Family Holiday Tourism Trading and Service Co Ltd; Hạng Nhất Membership Joint Stock Company; YTS Co Ltd; Yes International Co Ltd; and Paradise Travel Tourism and Travel Services Co Ltd.

Others identified are Invest Trip Co Ltd; Mariana Bay Group; Meli Club; League of Resorts (LORS); Ravi Company; and JJ Travel, among further enterprises under scrutiny.

According to investigators, the suspects promoted tourism packages and holiday cards with attractive incentives. They promised high returns and pledged to support contract transfers or buy-backs at favourable prices.

To build trust, the businesses invested in large-scale offices and established professional staffing structures. Roles were clearly divided across customer prospecting, consultancy and customer care.

Investigators allege the suspects illegally collected personal data of customers who had previously joined tourism programmes. They also harvested data from social media to approach financially comfortable individuals, particularly the middle-aged and elderly.

Staff then made repeated calls inviting customers to appreciation events, to receive gifts or to claim free holidays. In reality, these were ploys to lure people to company offices for product presentations lasting several hours.

At these sessions, staff presented information on profit potential, capital-recovery guarantees, interest rates and the prospect of transferring contracts at a high profit.

Once customers agreed to take part, the suspects pressured them into signing pre-prepared contracts containing numerous unfavourable terms.

Where customers lacked the means to pay, the company guided them through taking out bank loans to continue making payments, investigators said.

When customers later sought to liquidate or transfer their contracts, they were required to pay additional charges. These included administrative fees, transfer fees, service-upgrade fees and deposits.

Many continued to pay in the hope of recovering their capital. Instead, they were led into signing further contracts they did not fully understand, leaving them unable to recover their money.

Investigators have worked with hundreds of victims. The largest single loss recorded was more than VNĐ8.5 billion, about US$323,000, across 42 contracts, while the smallest involved VNĐ30 million through a single contract.

The Ho Chi Minh City Police have called on anyone affected by the suspects or companies to contact investigators to assist the inquiry.

Contact points include the Office of the Criminal Investigation Agency at No. 47 Thành Thái, Diên Hồng Ward; the Criminal Police Division at No. 459 Trần Hưng Đạo, Cầu Ông Lãnh Ward; and the Economic Police Division at No. 14 Đoàn Như Hài, Xóm Chiếu Ward.

Police also urged the public to remain vigilant against invitations to invest, own holiday packages, or buy and sell travel cards promising unusual returns, and to verify the legal standing of companies and contracts before signing.

The Ho Chi Minh City announcement came shortly after the Hà Nội Police dismantled a large fraud ring involving 27 fake tourism companies. That operation reportedly tricked 493 victims out of more than VNĐ181 billion (US$6.8 million), with total linked criminal transactions exceeding VNĐ2.7 trillion.