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On April 23, the Ho Chi Minh City People’s Court began the first-instance trial of 38 defendants charged with “using computer networks, telecommunications networks, and electronic means to commit asset appropriation.” Prosecutors allege the defendants ran a sophisticated fraud scheme in which they posed as bank staff to convert cardholders’ data into illicit gains.
According to the indictment, two leaders—Le Thi Kim Hoa (born 1993, Khánh Hòa) and Dao Thi Kieu Oanh (born 1989, Thừa Thiên Huế)—co-founded the Limited Liability Company International Trade Services P&L (P&L). Prosecutors said the company had no lending function, but the leaders used their experience in financial firms to implement the scam.
To carry out the fraud, Hoa and Oanh allegedly recruited a large team. Nguyen Van Luong was named Supervisor (salary 35 million VND/month). Other leaders, including Le Thi Tuyet Huong and Duong Bao Tram, allegedly managed telesales groups, while Nguyen Duc Binh was in charge of IT.
Prosecutors said the group purchased customer data, including credit-card usage information. Telesales staff then allegedly called customers, impersonating bank employees and offering a service to convert a credit card limit into cash at low interest or through installment plans.
When customers agreed, the suspects allegedly requested card information and OTP codes. Instead of providing the promised service, prosecutors allege they used the information to make payments through electronic gateways such as Alepay and Vimo.
To make the fund transfers appear legitimate, the ring allegedly set up “fake stores” on e-commerce platforms, claiming customers were shopping even though no real transactions occurred. After payment gateways disbursed funds into the group’s accounts, prosecutors said the defendants skimmed 25%–27% to return to customers’ ATM accounts to maintain trust, while the remainder was fully stolen.
Authorities said that from October 24, 2022, to December 28, 2022, the ring completed 618 successful transactions, totaling more than 7.2 billion VND in payments. Prosecutors allege that more than 1.86 billion VND was stolen from cardholders. Authorities also confirmed 118 customers as direct victims.
During the investigation, the defendants reportedly admitted their wrongdoing. Some defendants and their families have returned part of the illicit gains. Prosecutors said the acts were especially serious, infringing property rights and adversely affecting social order and the functioning of the financial-banking system.
The trial is expected to last several days before the proper sentence is issued.
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