Vietnamese Police Arrest Man for Facebook Gold Scam
Hue City Police in Vietnam have arrested Nguyen Ngoc Hau for defrauding individuals through the sale of gold on Facebook. The suspect allegedly posted advertisements offering gold at prices below market value to gain trust and then absconded with funds after receiving payments.
Details of the Scam
On March 12th, Huong Tra Ward Police received a complaint from Ms. Vo Thi S., a resident of Quang Tri Province, who was scammed out of over 372 million Vietnamese Dong (VND) while attempting to purchase two SJC gold bars through a Facebook account named “Yen Nhi.” After transferring the funds, Ms. S. Lost contact with the seller.
Investigation and Arrest
Following the report, police quickly identified Nguyen Ngoc Hau, born in 1996 and residing in Phong Thai Ward, as the suspect. Hau was located and apprehended in Phu Bai ward on the same day and brought in for questioning. During interrogation, Hau confessed to using the “Yen Nhi” Facebook account to participate in online gold trading groups, including the “9999 Gold Trading and Buying/Selling Community,” to solicit gold prices from potential sellers.
Modus Operandi
The suspect advertised gold at below-market prices to attract buyers. Once a buyer transferred money to an intermediary account, Hau allegedly embezzled the funds and blocked all associated accounts. This method allowed him to defraud multiple victims.
Police Warning
The Hue City Police Department has issued a warning to citizens to exercise caution when conducting transactions and buying/selling property on social media platforms. They advise verifying all information and being wary of questionable relationships to avoid becoming victims of fraud. Vietnam.vn
SJC Gold and Market Context
The case highlights ongoing concerns regarding gold trading in Vietnam. The Saigon Jewelry Company (SJC) has held a monopoly on gold bullion production in Vietnam since 2012. Philippine STAR Recent reports have also surfaced regarding alleged illicit production of SJC gold bars, involving former company executives. Luat Nguyen