Men detained for duping investors in bogus meteorite, rhino horn venture

By Yen Khanh, Phuoc Tuan   April 8, 2024 | 12:59 am PT
Police in the southern Binh Duong Province have arrested two men falsely advertising a lucrative meteorite and rhino horn business to scam investors.

Ho Hoang Hon, 51, and To Vu Tien, 52, are under investigation for fraudulent appropriation of property.

Police said the two made multiple videos about "meteorites" and "rhino horns" to find buyers.

Recently, they approached a 50-year-old man in Binh Duong’s Di An City and invited him to invest in the business.

They showed that man large-value contracts, photos they took with important people in Vietnam, and promised thousands of dollars in profits from the "partnership" within a short period.

The man believed them and poured in investment of more than VND3 billion.

However, after receiving the money, the two made excuses about procedural delays and complications to extend the time to enable them to embezzle more money from the man.

Eventually, the man reported the case to police.

Items resembling animal horns the police seized from the two men. Photo by VnExpress/Yen Khanh

Items resembling animal horns the police seized from a rhino horn business scam. Photo by VnExpress/Yen Khanh

Launching an investigation into the two men, police seized seven items resembling animal horns, which the group claimed to be rhino horns, a black metal block, and an object claimed to be a piece of meteorite.

Rhino horns are highly sought for by certain people as a status symbol, or due to false belief in their medical value. The trade of rhino horn is banned in Vietnam.

Police are urging anyone who has fallen victim to the group to come forward.

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