On August 20, information from the Department of Information Security (Ministry of Information and Communications) revealed that the investor of an apartment project in To Huu Street, Hanoi, had discovered two fraud cases involving customers interested in purchasing apartments in this project. Many victims followed the instructions and made deposits before signing sales contracts, resulting in the loss of up to hundreds of millions of VND.
The fraudsters devised a rather sophisticated plan. Firstly, they posted false information about the ability to purchase apartments at very attractive prices to attract potential victims. Subsequently, the fraudsters would instruct interested customers to transfer a deposit for any apartment they preferred into the account of the project’s investor.
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The fraudsters then demanded that the victims pay 300 million VND as a deposit before arranging a meeting with the investor to sign a sales contract. Trusting the instructions, the victims transferred the money, but immediately afterward, the fraudsters cut off all communication and appropriated the entire deposit amount.
In light of these fraudulent activities, the Department of Information Security (MIC) advises people, especially those interested in real estate investment, to exercise extreme caution when encountering brokerage services on social media. Refrain from making independent payments for apartments without obtaining confirmation of apartment availability from the investor or notification from the investor’s sales partners. Do not transfer any deposits before clearly verifying the identity of the individual/organization/enterprise involved.
Should you suspect that you have been a victim of fraud, immediately report the incident to the relevant authorities or reputable businesses to receive support, resolution, and timely prevention of further occurrences.
When “Customers” Become Delinquent Debtors
“Homebuyers thought they had struck gold when they invested in a reputable real estate developer’s project. However, nearly four years after signing the initial agreement, the sales contracts remain unsigned due to legal issues and unclear project documentation. Today, hundreds of these once-happy customers are now struggling with bad debt, with some even facing the threat of bankruptcy as they battle to keep up with loan repayments. This is the unfortunate reality for many families who invested in the Cu Lao Phuoc Hung Trade Service Urban Area project, located in Tam Phuoc Ward, Bien Hoa City, Dong Nai Province.”
Beware the Trap: Unveiling the Scams Targeting Luxury Condo Buyers
Recently, the investors of a mixed-use commercial and residential building project on To Huu Street (QMS Top Tower) uncovered two incidents of fraud targeting prospective tenants.
