A bogus overseas Vietnamese, usually called as Viet Kieu, has been arrested in the central Vietnamese city of Da Nang for allegedly committing land fraud to appropriate approximately VND23 billion (US$990,800).

Local police confirmed on Saturday they had apprehended Doan Thi Vy, 52, when she was hiding in the southern province of Ba Ria-Vung Tau.

Vy was later brought to Da Nang to assist the investigation.

Preliminary information showed that Vy introduced herself as a wealthy Viet Kieu who wanted to invest in many projects in Vietnam in order to earn trust from her victims.

She then established the Da Nang-based Thanh Dat Real Estate Investment and Construction JSC and asked Ngo Thi Cuc Hoa, a housekeeper at the hotel where she was staying, to be the legal representative.

After the firm was formed, Vy started selling land lots within the Vina Universal Paradise Son Tinh commercial and service zone in central Quang Ngai Province, even though legal procedures regarding the sale were not complete.

The woman was also aware that the project was likely to have its investment certificate revoked due to sluggish progress.

She was able to sell multiple land lots to the central branch of Loc Son Ha Real Estate Company and pocketed VND23 billion.

Several others people were also tricked into purchasing land inside the project.

People who fell victim to Vy’s scam have been asked to contact local authorities to provide information and support their investigation.

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