Hanoi police have charged Phó Đức Nam (TikToker Mr Pips, born 1994 in Bà Rịa – Vũng Tàu), Lê Khắc Ngọ (Mr Hunter, born 1990 in Hanoi), and 24 others with fraud, failure to report crimes, and money laundering.
Phó Đức Nam linked to a Turkish suspect, luring over 2,600 victims into international financial and stock investments.
Authorities froze assets worth over 5,200 billion VND including 316 billion in bank accounts, bonds, savings, cash, gold bars, luxury cars, and expensive watches.
Huge amounts of gold seized in the case.
A total of 890 SJC gold bars and 246 kg of solid gold were confiscated.
Cash seized amounts to 69 billion VND.
The suspects mainly operated online to lure victims and scam money.
Mr Pips and accomplices hired up to 1,000 employees working daily across 44 offices in various provinces and cities.
They created and managed five English-language websites to trick participants into thinking they were trading on reputable international platforms, all linked to their bank accounts.
