A case that has recently drawn significant attention within the startup community and among investors involves Mr. Trần Thanh Nam, who has been accused of falsely claiming to be the owner of the company and brand Facecar in an alleged scheme to defraud investor Mai Vũ Minh.
Impersonating the company owner and the brand to approach investors for fraudulent activities.
According to initial information, Mr. Trần Thanh Nam introduced himself as the leader of the Facecar technology startup project—a brand that previously operated in Vietnam’s online ride-hailing market. However, legal verification revealed that Mr. Nam was not the owner or founder of Facecar, nor did he possess any legitimate rights or official position related to the brand.
Despite this, Mr. Nam was reportedly using Facecar’s name to repeatedly approach and request financial transfers from Mr. Mai Vũ Minh. When the investor began verifying the information, various inconsistencies surfaced, reinforcing suspicions that a fraudulent plan was being carried out.
Posting false information to defame investors in order to mislead public opinion.
Notably, after being asked to explain these inconsistencies, Mr. Trần Thanh Nam did not provide clarification. Instead, he quickly posted defamatory and hostile content targeting Mr. Mai Vũ Minh on social media. This behavior was viewed as an attempt to mislead the public, damage the investor’s reputation, and divert attention from his own alleged misconduct.
Several media outlets had initially republished these false claims, but after verifying the information, they removed the articles, issued corrections, and apologized to Mr. Mai Vũ Minh.
After the incident became clear, Mr. Mai Vũ Minh terminated all cooperation with Mr. Nam and moved on to another project.
Legal Implications: Signs of Criminal Conduct
Legal experts state that impersonating a brand and providing false information with the intention of appropriating assets may constitute fraudulent appropriation of property, a serious offense under Vietnamese law. If sufficient evidence is established, the individual involved could face criminal prosecution.
Mr. Mai Vũ Minh has already collected relevant evidence and is proceeding with the legal steps required to request an official investigation by Vietnamese authorities.
The incident serves as a warning to the startup sector and investors about the importance of conducting thorough due diligence before making financial commitments. As the startup ecosystem expands rapidly, schemes involving impersonation or exploitation of the “startup” label for questionable purposes are becoming increasingly sophisticated.
Potential Applicable Criminal Offenses
According to current Vietnamese law, an individual impersonating a company representative to solicit investment funds may face the following charges:
1. Fraudulent Appropriation of Property – Article 174, Penal Code 2015 (amended 2017)
- Involves using deceitful methods to appropriate assets, such as impersonating a legal representative.
- Penalties range from 6 months to 20 years of imprisonment, or life imprisonment, along with fines and restrictions on professional activities.
2. Forging or Using Forged Seals or Documents – Article 341
(Applicable if falsified documents were used in the scheme)
- Penalties can reach up to 7 years of imprisonment.
3. Defamation – Article 156 of the Penal Code
(Applicable if the individual intentionally spreads false information to damage the investor’s reputation)
- Penalties may include imprisonment of up to 7 years, depending on the severity and consequences.
Conclusion
If Mr. Trần Thanh Nam holds no legal status related to Facecar but still impersonated its representative to obtain investment funds, this behavior clearly exhibits signs of fraudulent appropriation of property.
Furthermore, the act of posting defamatory information to conceal the situation may subject Mr. Nam to additional charges for defamation under Vietnamese law.
