Authorities arrest group involved in setting up a 'virtual' stock exchange and defrauding tens of billions of dong.
The police have just dismantled a group of individuals who set up a "virtual" stock exchange to defraud and embezzle tens of billions of VND from numerous victims across the country.
On September 30th, the Quang Nam Provincial Police announced that they had dismantled a ring that had set up an illegal stock exchange.fraud and misappropriation of propertyGambling, organizing gambling, and illegally collecting and possessing bank account information related to foreigners, nationwide.
Previously, in December 2023, the Criminal Police Department (Quang Ngai Provincial Police) received a report from Ms. Vo Thi B. (Duy Xuyen district, Quang Nam province) that a group of individuals had defrauded her of over 1.3 billion VND through stock market investments.
During the investigation, the police determined that this fraud group was highly professional, had a vast network, and was connected to foreigners. The group often organized online seminars and set up virtual trading platforms to commit fraud and embezzle assets.
After gathering evidence, on September 19th and 22nd, the Quang Nam Police, in coordination with other functional forces, conducted urgent searches and arrested five suspects: Huynh Ngoc Tuan (39 years old), Ton Huy Tang (41 years old, both residing in Quang Nam), Tran Thi Thu Trang (29 years old, residing in Dak Lak), and Nguyen Dinh Toan (32 years old, residing in Hanoi).
According to the investigation, in early 2022, Tuan hired an unidentified individual to create a website called Worldex.live (with the intention of using it as a trading platform).
Tuan, along with Trang, Toan, Tang, and several others, forged documents, posed as investment experts, and organized seminars to encourage people in various localities to invest in cryptocurrency (USDT) on the Worldex.live platform.
On November 13, 2023, Tuan shut down the Worldex.live trading platform and defrauded victims nationwide of approximately 20 billion VND.
In December 2023, Tuan launched a new platform called GTG.GLOBAL to continue his fraudulent activities using the same methods in many provinces and cities across the country.
Most of the embezzled money was used by Tuan to gamble on the website www.bk8inter.com (operated by an individual in Taiwan, China). Electronic data extracted from gambling accounts shows that from December 2022 to the present, the total amount of money transacted and bet by Tuan alone exceeded 207.5 billion VND.
Quang Nam police seized evidence including 4 cars, 74 mobile phones, 6 CPUs, 4 monitors, 4 laptops, 1 tablet, 2 passports, 37 bank cards, 27.2 million VND, 500 USD, 6 necklaces, 5 gold rings, 22 gemstone bracelets, over 1,000 pages of documents guiding cryptocurrency investment, and many related documents.
Currently, the Quang Nam Provincial Police have prosecuted Tuan, Trang, Toan, and Tang for "Fraudulent appropriation of property"; and prosecuted one foreign national for "Illegally collecting, storing, exchanging, buying, selling, and publicly disclosing information about bank accounts" and "Organizing gambling".
In addition, Tuan was charged with "Gambling"; Trang was charged with "Forging and using seals and documents of agencies and organizations".
