Authorities arrest suspect who defrauded over 50 billion VND using a seafood investment scheme.
Recently, in Nghe An province and several other provinces and cities nationwide, people have been defrauded and had their assets stolen through investment schemes promising high returns. The latest case, recently cracked by the Criminal Police Department of Nghe An province, serves as a warning to the public about the deceptive tactics of investment schemes promising high returns.
Pham Thi Huong (born in 1982), residing in Binh Minh commune, Nghe An province, works as a seafood trader. Due to business losses and the need to repay debts, from the beginning of 2025 to May 2026, Pham Thi Huong repeatedly provided false information seeking investors to import large quantities of seafood from Vung Tau, transporting it by container to sell in Mong Cai. She promised that after successful delivery (within 5, 10, or 30 days depending on the order), she would share a high profit with the investors (usually 80 million VND per 1 billion VND, within 5-10 days).
To build trust during the fundraising process, Huong rented a house and opened a seafood trading shop in the former Yen Thanh district. She then created fictitious orders for hundreds of tons of seafood and sent them to people she intended to "lure" into investing. Trusting Pham Thi Huong, many victims transferred business investment funds to her, totaling over 50 billion VND.
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Instead of using the people's investment money to import goods as promised, Huong used it for personal expenses. By the end of May 2026, Pham Thi Huong declared she was no longer able to repay the money and cut off all contact with the "investors." Notably, Pham Thi Huong has a prior conviction for "Organizing or brokering the illegal escape or stay of others abroad" and is currently serving a suspended sentence.
On July 29, 2026, the Criminal Police Department of Nghe An Provincial Police successfully investigated and arrested Pham Thi Huong for the crime of fraud and appropriation of property.
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The case reveals that the scammer's tactics are not new, yet many people still fall for them. In the initial stage, after persuading investors to "put down money," the scammer will pay back the principal and high profits as agreed to build trust. Once the victims trust them, the scammer will use various excuses to continue soliciting larger investments. As for the "investors," once they trust them, they will continue to invest more personal funds, even raising capital from friends to share the investment and profit from the difference.
Recently, several cases have occurred nationwide where people invested capital with individuals and organizations hoping for high returns, but not only did they not receive any profits, they also lost all their invested money. These cases serve as a wake-up call for all citizens to be cautious in investment and capital contribution activities. Especially before accepting offers of high returns, people need to thoroughly investigate and verify the individuals, organizations, and their business activities to avoid falling victim to fraud and financial misappropriation.
The Criminal Investigation Agency (Criminal Police Department) has initiated a criminal case, charged and detained Pham Thi Huong for processing according to regulations, and is continuing to expand the investigation. To assist in the investigation, the Criminal Police Department announces that anyone who is a victim of the above case should contact the Criminal Police Department of Nghe An Provincial Police (55 Ho Tung Mau Street, Truong Vinh Ward) to report the incident.
