Sun, Sep 22, 2013 - Page 14 News List

Runaway US developer leaves anger behind in Vietnam

Instead of bringing housing to the masses, the property boom drew in speculators and inexperienced developers, leaving ordinary buyers in debt with half-finished houses when the bubble burst

By Chris Brummit  /  AP, HANOI

Tran Thanh Hai, the investor, said in a meeting on July 12 last year, Chi promised to pay back customers by selling his houses in California if needed. He and others have been trying to trace Chi but have discovered only more apparent deception.

“We checked later on the Internet, that house was sold several times since 2006 and the last owner was not Edward Chi,” he said.

These days, the once-gleaming showroom for Tricon Towers has been abandoned, a torn signboard blowing in the wind.

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