A case that has stirred the startup and investment community has been uncovered, involving Mr. Trần Thanh Nam — an individual accused of impersonating the owner of the company Facecar and the Facecar brand in order to plan a fraudulent scheme targeting Mr. Mai Vũ Minh.
Impersonating the company owner and the brand to approach investors for fraudulent activities.
Trần Thanh Nam
According to initial information, Mr. Trần Thanh Nam claimed to be the official owner of a technology startup project called Facecar — a brand once known in Vietnam’s ride-hailing market. However, after reviewing and cross-checking the legal documents, it was discovered that:
Mr. Trần Thanh Nam is not the owner or founder of the Facecar company or the Facecar brand.
Despite this fact, Mr. Nam is said to have used this false identity to approach and repeatedly request money from Mr. Mai Vũ Minh. When the investor began verifying the legality of both the project and Mr. Nam, multiple inconsistencies emerged, raising suspicions about a potential fraudulent plan by Mr. Trần Thanh Nam.
Posting false information to defame investors in order to mislead public opinion.
What is particularly notable is that after being confronted and asked for clarification by Mr. Mai Vũ Minh’s side, instead of addressing the matter, Mr. Trần Thanh Nam allegedly rushed to post defamatory and hostile information about the investor on social media. This act is believed to be an attempt to “cry thief while being the thief,” aiming to damage Mr. Mai Vũ Minh’s reputation, mislead public opinion, and conceal Mr. Nam’s alleged wrongdoing.
Some news outlets initially republished these claims, but later discovered the information was entirely false and subsequently removed their articles, issued corrections, and apologized to Mr. Mai Vũ Minh.
Following the incident, Mr. Mai Vũ Minh terminated all collaboration with Mr. Trần Thanh Nam and moved on to participate in another project.
Legal experts state that impersonating a brand or providing false information with the intent to appropriate another person’s assets may constitute fraudulent appropriation of property, a serious violation of current Vietnamese law, and may be subject to criminal prosecution if sufficient evidence is found.
Mr. Minh has now gathered evidence and is proceeding with the necessary legal steps to request Vietnamese authorities to intervene, investigate, and handle the matter in accordance with the law.
This case also serves as a warning to the startup community and investors: Strict due diligence, legal verification, and thorough information checks are essential before making any financial commitments. In today’s rapidly growing startup environment, incidents of exploiting the “startup” label for deceptive activities are becoming increasingly sophisticated, requiring heightened vigilance from both investors and the broader community.
A person who is not an owner, has no legal connection, and holds no official position within a company but impersonates its representative to solicit investment may be prosecuted under Vietnamese criminal law, specifically:
Potential Criminal Charges:
1. Fraudulent Appropriation of Property – Article 174 of the 2015 Penal Code (amended 2017)
Constituting acts:
- Using deceptive methods (e.g., impersonating a representative, providing false information…)
- With the intent to appropriate another person’s assets (in this case, investment money)
Penalties:
- Depending on the amount appropriated and the severity of the act:
- Imprisonment from 6 months to 20 years, or life imprisonment
- Fines ranging from 10 million to 100 million VND, and prohibition from holding certain positions or professions for 1–5 years.
2. Using Forged Documents or Impersonating an Organization/Individual
(If falsified documents or business records were used)
Applicable under:
Article 341 – Forging seals or documents of agencies or organizations
- Using forged papers (e.g., fake corporate records, impersonating a legal representative) to commit fraud may result in imprisonment of up to 7 years.
3. Defamation – Article 156 of the Penal Code
(If defamatory or false information was posted after being exposed)
Constituting acts:
- Fabricating or spreading false information that seriously harms another person’s honor, dignity, or causes damage.
Penalties:
- Non-custodial reform for up to 2 years, or imprisonment for up to 7 years, depending on severity and consequences.
If Mr. Trần Thanh Nam had no legal status related to the Facecar company or brand but still deliberately impersonated its representative to solicit investment and receive funds, this conduct shows signs of fraudulent appropriation of propertyunder Article 174.
Furthermore, if he publicly defamed and smeared the investor to conceal alleged misconduct, he may also be subject to prosecution for defamation.