Truong Ho Phuong Nga, 29, who won the Miss Vietnam in Russia beauty contest in 2007, can be jailed for life if found guilty.
Her friend, Nguyen Duc Thuy Dung, 27, has been charged with colluding with Nga in the scam, according to the Ho Chi Minh City prosecutor’s office.
Nga, who migrated to Russia with her parents in 1999, she moved to HCM City to work for a communication company and model.
She reportedly told a local businessman, identified only as H., that she had many good contacts who could help him buy houses at low prices.
The man then transferred VND6 billion to her account to buy a house in District 5.
But she later told him the house had been sold.
She then managed to convince him to part with another VND10.5 billion to buy a different house.
Again he failed to get the promised house and with Nga evading him constantly, he demanded his money back and complained to the police.
The police received the complaint in 2014 and called Nga for questioning.
The woman claimed to have repaid H. and produced documents to prove her claim, but the police later found them to be fake.
Nga was arrested in March 2015 at her apartment in District 2. Dung, who was accused of getting the fake documents for Nga, was arrested later.