Ho Chi Minh City Police have arrested and charged 51 executives, managers and employees of Metaland Investment Development Co., Ltd. as part of an expanded investigation into an alleged fraud scheme disguised as vacation contract sales.

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Investigators serve prosecution and detention orders on 51 suspects. Photo: CACC.

On June 27, the Criminal Police Division of Ho Chi Minh City Police announced the prosecution of a criminal case involving alleged fraud at Metaland Investment Development Co., Ltd., headquartered at 380 Tran Hung Dao Street, Cho Quan Ward, Ho Chi Minh City.

Investigators have also prosecuted and ordered the temporary detention of 51 suspects, including members of the company's board of directors, shareholders, managers and employees, to investigate alleged fraud.

The move is the latest step in an investigation directed by the Director of Ho Chi Minh City Police to expand inquiries into businesses suspected of operating fraudulent schemes under the guise of "vacation contracts" and to determine the roles of everyone involved, from alleged ringleaders to accomplices.

Building a network of companies and using trust-building tactics

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Nguyen Thanh Hai. Photo: CACC.
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Other key suspects at Metaland Investment Development Co., Ltd. Photo: CACC.

According to the initial investigation, Metaland was organized and operated using sophisticated methods similar to those employed by fraudulent businesses dismantled in previous investigations.

Evidence collected by investigators indicates that after establishing Times Holdings Joint Stock Company in Hanoi, Ngo Quang Chien - who has already been arrested by Hanoi Police in a related case - and his associates went on to establish Metaland in Ho Chi Minh City to expand their operations.

Within Metaland, the suspects allegedly divided leadership responsibilities among key figures. Nguyen Thanh Hai was a shareholder responsible for overseeing sales teams; Truong Tung Lam, also a shareholder, managed finance and accounting; Hoang Quang Anh served as Sales Director overseeing sales operations; while Truong Minh Phuong supervised human resources, the telesales department and acted as the company's legal representative.

Below them, investigators say, was a hierarchical system of sales managers, telesales supervisors, team leaders and employees who carried out every stage of the operation, from approaching potential customers to collecting payments.

To attract customers, the telesales department allegedly used existing databases to invite members of the public to appreciation events where they were offered free vacation vouchers. During these contacts, employees gathered information about customers' occupations and incomes to assess their financial capacity before referring them to the sales department for further persuasion.

At promotional seminars, Metaland employees allegedly followed scripted presentations promoting vacation contract packages with promises of exceptionally high returns, including profitable rental opportunities, easy resale options and limited-time incentives designed to pressure customers into making immediate purchases.

Investigators said the company also artificially inflated the listed prices of two vacation membership packages before instructing sales staff to pretend to negotiate discounts, creating the impression that customers were receiving substantial price reductions.

After customers made payments, Metaland allegedly returned a small portion of the money under the label of "first-year vacation card rental income." However, investigators said the company never actually rented out the cards as promised. Instead, the money was allegedly taken from customers' own payments to build trust, reduce complaints and encourage victims to enter into larger transactions.

Prepared to erase evidence

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Fifty-one suspects have been arrested as police expand the investigation. Photo: CACC.

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The type of contract allegedly used to defraud customers. Photo: CACC.

Investigators said the alleged ringleaders prepared dissolution documents and related paperwork in advance so the company could be shut down quickly if disputes arose with customers or law enforcement authorities. After collecting money from victims, many sales employees also resigned or changed their place of residence in an apparent effort to erase traces of their involvement.

Despite these efforts, the Criminal Police Division of Ho Chi Minh City Police said it conducted extensive investigative work, including reviewing evidence, verifying information and interviewing victims, to uncover the full operation.

Police are continuing to strengthen the evidence, expand the investigation to other companies and individuals believed to be connected to the scheme, and pursue legal action against those accused of using corporate structures to commit fraud and unlawfully profit at the expense of the public.

Dam De