Vietnamese police have gone after a man who allegedly spread false rumors regarding the financial stability of the real estate giant, Novaland.
The Latest: Police in Hồ Chí Minh City summoned a man for potential action over allegedly false posts about Novaland’s finances following a complaint from the company.
- on Oct. 8, police announced that Đ.M.Q., 44, admitted during questioning to using his personal Facebook account to post false information about Novaland’s operations “to attract attention, ‘likes,’ and ‘views.’”
The Details: Police investigators stated that they were gathering further evidence to take action against Q. and continuing to investigate other accounts.
- The criminal police department received a complaint from Novaland alleging that accounts on Facebook, Threads, and TikTok—along with groups on Zalo, Viber, and Telegram—were “posting and spreading content concerning the company’s financial situation and ability to meet its payment obligations.”
While many news outlets obscured Q.’s face in their coverage, a video posted by the government information page—Thông tin Chính phủ—did not.
- It also showed his personal Facebook page, under the name “Quan***,” and other identifying information.
Authorities have not specified whether they will pursue administrative penalties or criminal charges, or which legal provisions would apply.
Novaland’s Response: Novaland released an Oct. 6 statement rejecting claims that it was “bankrupt” or “unable to operate.”
- The company stated that the “false” rumors “do not accurately reflect its legal status or actual operations.”
The Background: Novaland has repeatedly disclosed delayed bond repayments in recent mandatory filings with the Hà Nội Stock Exchange.
- In May 2025, VnExpress reported that Novaland’s outstanding borrowings exceeded 59 trillion đồng. At the time, the company said it could not arrange sufficient cash flow to repay its debts through the end of 2026.
- Bond NVLH2123014 matured on May 18. According to Người Quan Sát, Novaland paid only about 6.6 billion đồng, leaving well over 638 billion đồng in principal and interest unpaid because it had “not yet secured sufficient funds.” The company noted that negotiations with bondholders were continuing.
- On July 23, another 111.6 billion đồng in principal came due on bond NVLH2123007. According to Vietstock, Novaland transferred 611.95 million đồng that day—about 0.5% of the amount due—again stating that it had not secured the necessary funds. On April 23, it had paid only 608.5 million đồng on the same bond.
- Most recently, unpaid principal and interest on bond NVLH2224006 totaled about 1.8167 trillion đồng as of Sept. 23, according to Tuổi Trẻ. Two other bonds, NVLH2223007 and NVLH2223008, also had outstanding principal payments.
Thành Phương wrote this news article in Vietnamese and published it in Luật Khoa Magazine on October 8, 2026. The Vietnamese Magazine translated it into English.
