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Giấy phép số 4978/GP-TTĐT do Sở Thông tin và Truyền thông Hà Nội cấp ngày 14 tháng 10 năm 2019 / Giấy phép SĐ, BS GP ICP số 2107/GP-TTĐT do Sở TTTT Hà Nội cấp ngày 13/7/2022.
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The “gold begets more gold” promise has led many people into ruin through schemes run by illegal capital-raising organizations.
Mr. Nguyen Van M. in Ho Chi Minh City provides a cautionary example. Seeing gold prices remain high, Mr. M. handed over 10 taels of gold he had saved over a lifetime to a private company under an “investment entrusted” contract. The agreement promised cash interest of up to 2% per month, equivalent to 24% per year—an unusually attractive return.
In the first three months, the company paid interest consistently, which led Mr. M. to believe the arrangement was safe. He then borrowed additional gold from relatives to invest more.
However, in the fourth month, the company abruptly declared bankruptcy, closed its offices, and its representative disappeared. When Mr. M. reported the matter, he discovered that the red seal on the contract did not provide real collateral because the company had no licensing to engage in lending or mobilizing funds.
According to the case, the line between a legitimate civil transaction and a scam is often disguised under the label “investment entrusted.” The scheme exploits public misunderstanding through sophisticated tactics, including using money from new participants to pay returns to earlier participants—creating the appearance of trust and stability.
Legally, the key distinction is whether the conduct is intended to deceive from the outset in order to mobilize capital, after which the perpetrators declare insolvency or flee with assets. At that point, the situation is no longer a normal investment risk; it shows signs of “fraudulent misappropriation of assets” under the current Penal Code Article 174.
The volatility of the precious metals market can be exploited by criminals, and many victims end up falling into debt and financial ruin. Mr. M.’s experience is presented as a warning to others.
To protect assets, the article advises people to remain vigilant against contracts that promise unusually high profits. If someone is trapped, they should collect documentation and file a report with the police to help prevent further dissipation of assets and support efforts to recover their capital.

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