Trillion-dong gambling ring busted
Phi Van Huan (39 years old) and 55 others were discovered participating in an online gambling ring disguised as a soccer game with a scale of more than 1,000 billion VND.
Huan is the mastermind. He and 55 accomplices were prosecuted for the crime.GambleandGambling organization,Cau Giay District Police said on February 11.
According to the investigation, Huan established EGOLD Vietnam Joint Stock Company as a front for running a gambling ring on a website with a foreign name. Huan's "henchmen" included 16 managers, technicians, 13 first-level agents, and 2 second-level agents.
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Evidence of the case. Photo:Van Hoan |
The technical team is the one who manages the games, the agent team is responsible for exchanging dong into the conventional virtual currency GOLD for gamblers to use to place bets. Agents who buy virtual currency must go through Huan with the conversion rate of 100,000 dong for 122,000 gold and vice versa.
To participate in betting, gamblers must register an account and buy virtual money through the agents of the website system. Through each simulated electronic football match and AOE empire game, players will participate in betting during each opening time of 3 to 5 minutes.
There will be multiple betting slots every day. The winner will get double the virtual gold but the system will cut back 1 to 1.5%.
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Suspect Phi Van Huan. Photo:Police provided |
According to the police, the system has more than 350,000 accounts. The total transaction amount in July-September 2019 alone was more than 1,100 billion gold equivalent to 960 billion VND. Huan's group illegally profited more than 4.7 billion VND. The virtual money the agents sold in two months was nearly 200 billion VND.
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