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Many victims attended the trial to demand that the fraud group repay their money. The Hanoi People’s Court has sentenced the defendants to prison terms for a fraud scheme that mobilized funds and embezzled tens of billions of VND from more than 1,200 people.
The GMT Company, founded by Sỹ Anh Tuyên, operated primarily in the natural mineral water business. To defraud assets, Tuyên coordinated with Nguyen Thi Hong Nhung and Tran Tri Trung—both Deputy Chairs of GMT’s Board—to run the company through an “GMT ecosystem” model.
Under the model, Nhung was responsible for finances, receipts, and expenditures across the ecosystem, while Trung served as the southern branch director in charge of business and legal matters, including forming participating companies within the GMT ecosystem.
By 2025, the GMT ecosystem had seven branches and 316 member companies nationwide, but produced no goods and had no revenue. The group spread false information claiming it had 40,000 billion VND in funds and that production and profits across the ecosystem were consistently high.
Participants were told they would receive ion-alkaline water systems and job opportunities for family members, including salaries and bonuses. Investors who contributed capital were promised high weekly returns.
To join the “GMT ecosystem,” individuals had to enroll in a 30-day training program on “Water Solutions Creation,” taught by Tuyên and conducted mainly online or at GMT-organized venues. The course tuition was 24 million VND, but participants paid only 8 million VND, while GMT subsidized 16 million VND.
Participants were promised a graduation certificate and a 1.5-gram gold ring, job placement, and a minimum weekly income of 1.7 million VND; in reality, these benefits were not provided.
After completing the course, if participants continued with GMT to form member companies, they were required to contribute 30% of charter capital, while GMT would invest 70%. The group also promised to install bottled ion-water production systems at member companies and offered profits at a 38% annual rate.
Tuyên directed Nhung to sign documents and business-formation agreements. Trung liaised with telecom providers to set up online classrooms for the course and coordinated with law firms to handle corporate registrations.
Believing the information, many individuals transferred money and joined the GMT ecosystem. From 2022 through 17 June 2025, Sỹ Anh Tuyên and accomplices collected nearly 90 billion VND from more than 1,200 people.
Investigations identified more than 600 victims. Of these, 474 victims demanded restitution totaling more than 48 billion VND.
