Online foreign exchange scams: Buyers lose money, scammers face 12 years in prison.

From currency exchange transactions to intent to misappropriate funds.

Leaving his hometown of Thanh Hoa at a very young age, Dang Van Toan (37 years old, residing in Tien Trang commune) struggled through various jobs in the city: sometimes working as a construction laborer, other times handling foreign currency transactions for acquaintances. Due to difficult family circumstances – his mother died early, his father remarried, and he had many siblings – Toan was often appreciated by relatives for his hard work and frequent remittances. In the eyes of his relatives, Toan was a caring, gentle, and quiet nephew. However, the money they received over the years stemmed from a fraudulent scheme that many were unaware of.

According to the records, on May 22, 2025, Toan received a message from a social media account offering to sell 360 Japanese Yen for 655 million VND. At the same time, Mr. Le Van H. (born in 1992, residing in Nghe An) posted information seeking to buy foreign currency for work. Seeing an opportunity for price difference, Toan quickly contacted Mr. H., agreeing on a price of 660 million VND.

To build trust between the two parties, Toản created a group on social media to connect the seller, the buyer, and himself. The three parties agreed on a transaction method: the seller would bring cash to meet Mr. Vũ Luân – a friend of Mr. H. who works in Japan – to hand it over directly. After Mr. Luân confirmed that he had received the full amount in cash, Mr. H. would transfer the money to Toản.

However, upon seeing Mr. H. transfer 660 million VND into the account, Toan immediately conceived the idea of ​​embezzling the money. Thinking that the buyer was abroad, making it difficult to report and track him down, Toan deleted the exchange group and blocked all communication with both the seller and the buyer. The transaction was disrupted, causing Mr. H. to lose all the money he had just transferred.

The victim was distraught and tried to contact him for several days without success. On June 11, 2025, Mr. H. filed a complaint with the Nghe An Police. Two days later, realizing that the matter could no longer be concealed, Toan surrendered to the police and confessed to all his actions.

During the investigation, Toản confessed to lending 400 million VND to a relative for house construction. The remaining amount was used for funeral expenses for a relative, purchasing food to send to family members, and personal expenses. When the incident came to light, the relative who built the house proactively repaid over 200 million VND to the victim. However, due to the house being newly completed and still in debt, the relative requested a deferral of the remaining amount.

What started as a seemingly routine online foreign exchange transaction led Toản down a path of illegal activity, driven by greed. That seemingly simple click to delete the group triggered a chain of repercussions for himself and his family back home.

Tears in the courtroom and the victim's forgiveness.

The trial of Dang Van Toan attracted attention due to several unusual details. From early morning, the defendant's grandmother – over 80 years old, with trembling hands and feet – insisted on being brought to court by her children and grandchildren to see her grandson and offer her apologies to the victim. Throughout the trial, the elderly woman repeatedly bowed her head, her voice choked with emotion as she spoke of Toan's difficult childhood.

"My granddaughter lost her mother at a young age and didn't get a proper education. When I heard she was scamming people, I was heartbroken," the elderly woman said, her voice choked with emotion. Her appearance brought a moment of silence to the courtroom.

Sitting in the victim's section, Mr. H. listened attentively to every word of the defendant's testimony. Despite the significant impact of losing 660 million VND on his work and life, Mr. H. remained calm when invited to speak by the panel of judges.

The surprising thing happened when Mr. H. announced that he only requested the defendant to compensate him 171 million VND – the remaining amount after the defendant's relatives had already repaid a portion. He voluntarily waived the remaining 40 million VND that Toản owed.

“I saw that the defendant had sent money home to support his relatives who were in difficult circumstances. If that money had been used to buy food or pay for funeral expenses, I wouldn't demand compensation anymore. But the defendant's actions caused me great hardship for a long time,” Mr. H. said. His brief but empathetic statement surprised many in the courtroom.

For his part, Toan bowed his head and pleaded guilty, saying that he regretted that his momentary greed for small gains had implicated his family, brought shame to his relatives, and led to him facing many years in prison.

The court determined that the defendant's actions were dangerous to society, infringed upon the property rights of others, and jeopardized the security of online financial transactions – a field that is becoming increasingly complex. The defendant was fully aware that fraudulent behavior was illegal but still intentionally committed the act. Therefore, a severe punishment is necessary to deter and prevent similar crimes in the future.

However, the court also noted the defendant's sincere attitude, his surrender, partial compensation for damages, the voluntary compensation from his family, and especially the victim's request for leniency.

At the end of the trial, the panel of judges sentenced Dang Van Toan to 12 years in prison for the crime.Fraudulent appropriation of propertyRegarding civil liability, the court acknowledged the agreement between the two parties and ordered the defendant to pay the victim 171 million VND in compensation.

Toản silently nodded upon hearing the sentence. At the back of the courtroom, an elderly woman over 80 years old wiped away tears with the hem of her dress. The verdict was final, but the repercussions of greed, gullibility, and the loopholes in online financial transactions remained – a poignant reminder for both the perpetrator and those unfortunate enough to become victims.