Woman gets 20 years for massive fraud in southern Vietnam

TN News

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A court in the southern province of Dong Thap sentenced eight people to jail Friday for cheating tens of thousands of people across Vietnam out of more than VND58 billion (US$2.76 million) in 2007.

The gang, led by 46-year-old Ly Hue Quyen, founded a website and claimed to be a US-based global financial group called Colony Invest Management Ltd which invested in profitable recreational businesses.

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They promised a daily return of 2.5 to 3 percent to trap unwary people in 31 provinces and cities over a seven-month period.

Quyen got 20 years for fraud, while her henchmen got sentences of 26 months to 14 years.

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