Young man arrested for creating website, defrauding investors of virtual currency and Bitcoin
A young man who created a website calling for capital to invest in Bitcoin and other virtual currencies, as well as real estate projects to appropriate billions of dong, has been arrested.
Suspect Trinh Ngoc Thang at the police station. Photo provided by Thanh Hoa Provincial Police
On January 19, the Investigation Police Agency of Thanh Hoa Province Police announced that it had just arrested Trinh Ngoc Thang (29 years old, residing in Dong Ve ward, Thanh Hoa city) to investigate the act of "fraud and appropriation of property".
According to the initial investigation of Thanh Hoa Provincial Police, since February 2017, Trinh Ngoc Thang colluded with a number of subjects in Hanoi and Thanh Hoa to establish a website with the address Aigbtboss.net, calling on investors to contribute capital to receive high interest rates, in the form of investing in Bitcoin and real estate projects.
To create trust and attract more participants, Trinh Ngoc Thang's group has continuously organized events and seminars, offering many investment packages worth from 500 to 5,000 USD.
The higher the investment package, the more attractive the profit, up to 50%.
In addition, this group also offers 10% commission to members who introduce new members in the form of multi-level marketing.
Using this trick, from February 2017 until their arrest, this group defrauded dozens of people in Hanoi, Thanh Hoa, Nghe An... with amounts up to billions of dong.
Working with the police, Trinh Ngoc Thang initially confessed to mobilizing 15 people to participate in the investment.
With the victims' money, more than 50% of the total amount was divided among the subjects to spend, and nearly 50% of the remaining amount was used by the subjects to pay profits to investors.
Currently, the Thanh Hoa Provincial Police Investigation Agency is continuing to investigate and expand the case and calling on victims of this group to provide information and cooperate in handling and resolving the case.