Female tycoon falls into trap of cheap USD exchange

Gaining the woman's trust, Bao said he had a source of "black" USD at a cheaper price than the market, defrauding her of tens of billions of dong.

Tran Gia Bao (29 years old, residing in Ba Ria - Vung Tau province) was arrested by the Criminal Police Department (C45, Ministry of Public Security) on October 8 for the act of Fraudulent appropriation of property.

According to the investigation, Bao sold Thai and Chinese products online. Two years ago, he met a successful woman named Ngoc in District 8, Ho Chi Minh City.

In mid-2016, Ms. Ngoc traveled to Thailand and knew that Bao often did business with the locals, so she asked him to exchange Baht for spending.

He told her to go to District 1 and go to many foreign currency exchange shops to help her. He told the rich woman that he "knows a lot of people so he can always exchange at a good price" compared to the market.

Object of Protection

After helping Ms. Ngoc exchange foreign currencies many times, Bao came up with the idea of ​​defrauding the woman. He suggested that she had a source to sell smuggled USD at a price of 1,000 - 5,000 VND higher than the market price for each dollar. The first few times were only small transactions, Ms. Ngoc gave Bao money to buy and received a profit of several million VND after 5 days.

At the end of that year, Bao suggested that she invest more capital to make more profit, saying that she had a source of 100,000 USD at a price of more than 18,000 VND (4,000 VND cheaper than the market price). Believing him, the rich woman gave him more than 1.8 billion VND to buy. About a week later, Bao said that he had sold this amount to an import-export company, giving her 450 million VND in profit.

Seeing that making money was so easy, Ms. Ngoc gave Bao money many times to trade foreign currency and agreed to give him capital.

The last time, Bao lured Ms. Ngoc into a "deal" to buy 3 million USD for 18,000 VND. He and his friends pooled money to buy 2 million USD, and asked her to cooperate with him for the rest. Bao still had more than 9 billion VND from the previous deal and had not given it to her, so Ms. Ngoc only needed to pay 8 billion more.

Hearing Ms. Ngoc say she had run out of money, Bao reassured her, "I'll lend you 1.5 billion, you can try borrowing the rest from outside." She agreed and withdrew nearly 7 billion from the bank to give to Bao.

When the settlement date came, Bao said "there was a problem", gave Ms. Ngoc more than 1 billion VND as interest, and would pay the rest in a few days. However, more than a month later, Bao complained that the transaction "had a problem", needed 3 billion VND to cover the settlement costs, and would then calculate fairly with Ms. Ngoc. Afraid of losing both the principal and interest, the female tycoon gave him this money.

After many months of not seeing Bao pay, Ms. Ngoc found him and forced him to write a debt note totaling 27 billion VND, to be paid on May 2.

When the payment was not made, Bao avoided paying by saying he was "on a business trip" in many provinces such as Tay Ninh, Nha Trang... or that his phone was "out of coverage area". Realizing he had been tricked, the female tycoon reported the incident to the police.

Admitting to the investigation agency, Bao said he wanted to take Ms. Ngoc's money to buy land in Binh Tan district, buy a car, have fun... but not to trade foreign currency./.

According to VOV