Mr.Pips case: 500 thousand USD more discovered in Singapore, total seizure 5,300 billion VND

On the afternoon of December 26, at the press conference of the Ministry of Public Security, Major General Nguyen Thanh Tung, Deputy Director of Hanoi City Police, provided more information about the investigation process of the case to arrest Pho Duc Nam (aka Mr. Pips).

According to Major General Tung, after dismantling the property fraud ring led by Pho Duc Nam, the investigation agency took measures to completely recover the assets.

As a result, Hanoi Police temporarily seized another Mercedes car, VND12 billion in accounts, 18 apartments, and real estate worth about VND100 billion. The total value of assets seized by Hanoi Police was about VND5,300 billion. In addition, the investigation agency also recovered an additional USD500,000 from Nam's bank account in Singapore.

Major General Tung said that many other assets of Mr Pips and his accomplices hidden abroad have been discovered. In the coming time, Hanoi City Police will coordinate with the Supreme People's Procuracy to request judicial assistance abroad to completely recover the assets.

In Pho Duc Nam's e-wallet account, the investigation agency has identified "cold wallets" used to store cryptocurrencies. In case these wallets are used for domestic payments, the recovery will be simpler. However, the difficulty will increase if these wallets have been used to buy virtual currencies abroad.

Previously, Hanoi police prosecuted Pho Duc Nam, Le Khac Ngo and 24 others for fraud, failure to report crimes and mone.y laundering. These subjects took advantage of TikTok, with the nickname "Mr Pips", to lure users to invest in gold and cryptocurrencies, promising high profits. With each livestream video attracting hundreds of thousands to millions of views, "Mr Pips" often provides analysis and forecasts about the market and advises viewers to invest a lot of mone.y to earn big profits, while showing off his assets and "undefeated" experience in investing.

Initially, the subjects encouraged customers to invest small amounts of mone.y, helping them to make profits and withdraw mone.y, creating trust to continue trading. Then, they encouraged customers to increase their trading capital. When customers lost mone.y, even lost all the mone.y i.n their accounts, the subjects continued to provide false information so that customers continued to invest more mone.y to "recover". When customers no longer had financial capacity, the subjects blocked communication and appropriated all the mone.y that customers had transferred.

According to the Cau Giay District Police (Hanoi), after establishing dozens of offices in Vietnam, Pho Duc Nam, Le Khac Ngo (aka Mr. Hunter) and a group of foreigners set up fake international foreign exchange and stock exchanges, with interfaces similar to international exchanges such as GTMX, ALPHA, TRDING, IQX...

These floors were programmed by Nam and his accomplices to have large financial leverage (from 20 to 1,000 times the amount of mone.y customers deposit), always winning - meaning that investors' accounts will definitely "burn" when placing orders.

To date, Hanoi City Police have prosecuted 31 defendants for the crimes of Fraudulent appropriation of property, Mone.y laundering, Failure to report crimes, and Concealment of property obtained by others through criminal acts.

Regarding Le Khac Ngo, the City Police have coordinated with the International Criminal Police Organization (Interpol) to issue an international wanted notice. The investigation agency requested that those involved in the criminal acts of the trading floors and the subjects who fraudulently appropriated property urgently surrender to enjoy leniency under the law.

At the same time, authorities recommend that victims report to the Criminal Police Department of Public Security of provinces and cities nationwide or the Criminal Police Department of Hanoi Public Security.

In 2024, the rate of handling denunciations, reports of crimes and recommendations for prosecution by the police force will reach 91.06%, higher than the target assigned by the National Assembly; investigating and discovering more than 48,000 cases of crimes against social order; discovering more than 29,900 cases, more than 51,300 subjects committing crimes against prohibited substances; more than 4,600 cases, more than 8,000 subjects committing crimes against economic management order...

Mr Pips: Tiktoker sa lưới pháp luật vì lừa đầu tư chứng khoán, thu giữ 5200 tỷ Thanh Phúc13:39:30 11/12/2024Mr Pips, tên thật là Phó Đức Nam, là một TikToker nổi tiếng với những video về cuộc sống xa hoa và dạy cách kiếm tiền. Tuy nhiên, gần đây, anh ta đã bị bắt giữ vì liên quan đến một vụ án lừa người, chiếm hàng tỷ đồng.