In a significant crackdown, police in Ho Chi Minh City have raided Metaland Company and arrested 51 suspects involved in a fraudulent scheme centered around deceptive holiday contracts. The operation, carried out by the Ho Chi Minh City Police Department's Criminal Investigation Division (PC02), targeted a group accused of defrauding elderly clients through misleading contracts.

The arrests occurred on June 26, with the suspects charged with property fraud. Investigators revealed that the group had lured victims into signing more than 5,500 contracts, resulting in the embezzlement of over 600 billion VND (approximately 25 million USD). The mastermind behind the operation, Ngo Quang Chien, had previously been arrested in a separate case by Hanoi police.

Chien, after establishing Times Holdings in Hanoi, expanded his operations to Ho Chi Minh City by founding Metaland. He was supported by a team of key stakeholders and senior managers, including Nguyen Thanh Hai, Truong Tung Lam, Hoang Quang Anh, and Truong Minh Phuong, who played crucial roles in the fraudulent activities.

The company employed a hierarchical structure, with staff trained to execute each step of a meticulous process designed to ensnare clients. Telemarketing teams would invite potential victims to events promising free vacation vouchers while discreetly gathering information about their financial status.

During workshops, sales staff followed scripted pitches, making enticing promises of high rental returns on holiday contracts. The group pressured clients to sign contracts quickly, often using time-sensitive offers to create a sense of urgency. Employees were allowed to offer discounts within set limits to enhance the illusion of a special deal and were incentivized with bonuses for securing high-value sales.

Once clients made payments, the company would refund a portion under the guise of “rental fees for the first year,” aiming to build trust and minimize complaints. However, the company failed to honor its commitments regarding rental agreements. To evade accountability, the leadership had prepared documentation for dissolving the company in anticipation of potential complaints.

Many employees, after completing contract signings and collecting payments, either resigned or changed their residences to avoid repercussions. The investigation is ongoing, with authorities gathering evidence from victims to fully expose the group's tactics and broaden the scope of the case. Reports indicate that nearly 200 individuals, including directors and staff from related travel companies, have been implicated in the fraudulent scheme, with total losses exceeding 600 billion VND.