Authorities arrest lottery scheme organizer for defrauding over 2.4 billion VND.
Through fraudulent means, Vo Thi Kieu Oanh embezzled over 2.4 billion VND from 150 members of a rotating savings and credit association (ROSCA).
On December 16th, the Investigation Police Department of An Giang province issued a decision to prosecute and detain Vo Thi Kieu Oanh (born in 1986, residing in Tan Thanh commune, Tan Chau town, An Giang province) for the crime of "Fraudulent appropriation of property".
The police determined that in 2012, Oanh ran a rotating savings and credit association (ROSCA) for many participants. Initially, Oanh opened the ROSCA and allowed the members to collect their full payouts. By 2020, due to personal and family expenses, Oanh conceived the idea of embezzling money from the members by creating fictitious ROSCA schemes and arbitrarily collecting the members' payouts to steal money from those participating in the ROSCA schemes she managed.
Using these fraudulent tactics, Oanh embezzled over 2.4 billion VND from 150 members of the informal lending group.
After Oanh declared bankruptcy, the members filed a lawsuit with the Tan Chau Town People's Court demanding compensation from Oanh.
During the processing of the case, the Tan Chau Town People's Court found indications of a crime and therefore recommended that the investigating agency verify and handle the matter according to the law.
