On July 14, 2026, the People's Court of Ho Chi Minh City sentenced Huỳnh Thị Ngân Trang, the former CEO of Sao Vang Investment Consulting Company, to life imprisonment for her role in a massive fraud scheme that defrauded over 426 billion VND (approximately $18 million) from 444 victims. The trial, which began on July 6, 2026, concluded with the court's decision after an extended deliberation.

Huỳnh Thị Ngân Trang was tried in absentia as she is currently wanted by law enforcement. She was found guilty of orchestrating a scheme that promised investors high returns of 22% to 30% annually without any risk to their principal investments. Despite the company's losses from 2012 to 2017, Trang continued to pay returns to earlier investors using funds from new investors, a classic Ponzi scheme.

Alongside Trang, Phạm Thu Hà, the former Deputy CEO and treasurer of the company, was sentenced to 16 years in prison for her role in facilitating the fraudulent activities. Both defendants were ordered to jointly compensate approximately 237 billion VND to 407 of the victims.

The court also ordered the seizure of several assets, including real estate and shares in other companies, to ensure the enforcement of the judgment. Evidence presented during the trial revealed that while Trang was the mastermind behind the scheme, Hà actively assisted her in securing investment contracts and managing funds.

During the proceedings, Hà claimed she was unaware of the fraudulent nature of the operations and considered herself a victim of Trang's deceit. However, the court emphasized that her involvement and knowledge of the operations made her complicit in the crime.

The Sao Vang Company had previously paid out over 189.3 billion VND to some victims, with 37 individuals receiving amounts equal to or greater than their initial investments, while the majority had not received their promised returns.