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According to the Ministry of Public Security, the Security Investigation Agency (SIA) is investigating a case of “Fraudulent Appropriation of Property” that occurred at GMT Water Joint Stock Company and related organizations.
Previously, on June 21, 2025, the Security Investigation Agency of the Ministry of Public Security issued a decision to prosecute the accused and an arrest warrant (approved by the Supreme People’s Procuracy) against: Sy Anh Tuyen (born in 1976), residing in Dong Yen commune, Quoc Oai district, Hanoi (now Phu Cat commune, Hanoi), Chairman of the Board of Directors of GMT Water Joint Stock Company; Nguyen Thi Hong Nhung (born in 1967), residing in Ngoc Khanh ward, Ba Dinh district, Hanoi (now Ngoc Khanh ward, Hanoi), Vice Chairwoman of the Board of Directors of GMT Water Joint Stock Company; General Director of Van Xuan Water Joint Stock Company; Tran Tri Trung (born in 1983), residing in Ho Chi Minh City; Deputy General Director of GMT Water Joint Stock Company; Director of GMT Water Joint Stock Company – Southern Region, to investigate the act of “Fraudulent Appropriation of Property” as stipulated in Clause 4, Article 174 of the Penal Code.
The investigation results determined that since 2019, Sy Anh Tuyen, along with Nguyen Thi Hong Nhung, Tran Tri Trung, and several other individuals, established and operated GMT Water Joint Stock Company and many other legal entities within the “GMT ecosystem,” operating under a multi-level marketing model. Through systematic fraudulent schemes, Sy Anh Tuyen and his accomplices spread false information about the financial scale of GMT Water Joint Stock Company, such as announcing a capital of up to 42,000 billion VND; inflating business performance and promising high profits, paying weekly interest to investors in the system; pledging to install bottled alkaline ionized water production systems at member companies; and requiring investors to transfer money to personal accounts instead of the company’s designated accounts…
After receiving money from investors, Sy Anh Tuyen and his accomplices did not use the funds for production and business activities as promised but instead misappropriated and used them for other purposes.
On July 17, 2025, the Security Investigation Agency of the Ministry of Public Security issued a notice (first time) to find victims in the above case.
To ensure the investigation deadline and protect the rights of victims, the Security Investigation Agency of the Ministry of Public Security continues to issue a notice (second time) and requests individuals and organizations who are victims of the above subjects to come to the Security Investigation Agency of the Ministry of Public Security (address: 10 Tran Kim Xuyen, Yen Hoa ward, Hanoi) to cooperate in providing information related to the case (contact Investigator Luong Van Tuan, phone number 0692342431).
If the victims do not come to work and cooperate in providing information and documents before the end of the investigation period, the Security Investigation Agency of the Ministry of Public Security will not have a basis to consider and resolve their legal rights and interests in the case.
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