Mr Pips arrest: Shocked by the leader's academic achievements, top 3 in the world

On December 11, Cau Giay District Police, Hanoi, successfully dismantled a large-scale fraud and property appropriation ring led by Pho Duc Nam (30 years old, nicknamed " Mr Pips").

According to information from the investigation team, Pho Duc Nam has extensive knowledge of finance and economics. After graduating from high school, Nam was one of three people in the world to receive a full scholarship to a university in Singapore majoring in Information Technology. In addition, Nam also has an IELTS certificate of 8.5, the ability to speak English fluently and can communicate directly with foreigners without an interpreter.

Together with Le Khac Ngo (nicknamed "Mr Hunter"), Nam colluded with a group of foreigners to organize fraud through international financial platforms. This group used a system of websites and links such as GTMX, ALPHA TRADING, IQX, LONDONEX, IBMEX, ISWISS, TRUST, JASFX... to commit acts of property appropriation.

In Vietnam, Nam and Ngo have established 44 transaction offices, of which 24 are located in Hanoi and managed by 1,918 subjects. The remaining offices are opened in Ho Chi Minh City, Da Nang and Cambodia, forming a sophisticated and widespread network of operations.

On October 25, Cau Giay District Police in coordination with Hanoi City Police arrested the ringleaders and operators. To date, the investigation agency has prosecuted 26 defendants for Fraudulent Appropriation of Property, 3 defendants for Money Laundering, 1 defendant for Failure to Report a Crime, and 1 defendant for Concealing Property Obtained by Another Person's Crime.

Le Khac Ngo (Mr Hunter), one of the three ringleaders, is currently hiding abroad. The investigation agency has issued an international arrest warrant for Ngo for fraud and appropriation of property.

In Vietnam, Nam and Ngo have established 44 transaction offices, of which 24 are located in Hanoi and managed by 1,918 subjects. The remaining offices are opened in Ho Chi Minh City, Da Nang and Cambodia, forming a sophisticated and widespread network of operations.

On October 25, Cau Giay District Police in coordination with Hanoi City Police arrested the ringleaders and operators. To date, the investigation agency has prosecuted 26 defendants for Fraudulent Appropriation of Property, 3 defendants for Money Laundering, 1 defendant for Failure to Report a Crime, and 1 defendant for Concealing Property Obtained by Another Person's Crime.

Le Khac Ngo (Mr Hunter), one of the three ringleaders, is currently hiding abroad. The investigation agency has issued an international arrest warrant for Ngo for fraud and appropriation of property.

At the investigation agency, contrary to the image of luxury, high-class life, showing off huge assets, teaching financial investment on social networks, when detained, Pho Duc Nam shaved his head and sat hunched over.

"When people see beautiful houses and luxury cars, it will convey trust to the viewer and they will be attracted to these images and easily lured into financial investments," Nam said about his tricks to lure investors.

Lieutenant Colonel Cao Van Thai, Deputy Head of the Criminal Police Department of Hanoi City Police, said that it was the flashiness of Pho Duc Nam and Le Khac Ngo on social media that made people trust and invest. The victims believed that investing would make them rich quickly and soon become "tycoons".

Lieutenant Colonel Thai assessed that Nam and Ngo's group "advertised" better than other criminal groups. That's why many people trusted them, leading to a large number of people having their money stolen.

"In this case, Pho Duc Nam is the ringleader. It can be said that up to now, this is the largest fraud ring in Vietnam in the field of foreign exchange and securities," said Lieutenant Colonel Thai.

Although the amount of money embezzled was exceptionally large, the methods and tricks of Pho Duc Nam's group were not much different from other criminal gangs. The difference was the scale of this criminal gang.

Every day, there are about 1,000 employees working from 8am to 9pm. Employees are well-trained in methods, approaches, and scenarios when deceiving people.

Mr.Pips case: 500 thousand USD more discovered in Singapore, total seizure 5,300 billion VND Trí Nhi15:12:09 28/12/2024The case of Mr. Pips in the super fraud case is still making the internet stir, new developments have been revealed by the police, stating that the total assets recovered are 5,200 billion VND, recently there is also more money abroad.