Large Criminal Activity
Vietnam police initiate criminal proceedings in major asset fraud case
Hanoi police have launched criminal proceedings against 83 defendants linked to a major asset fraud and FOREX trading ring known as the "Mr Pips" scam involving large-scale financial fraud.
Hanoi police have initiated criminal proceedings against 83 defendants connected to a major asset fraud and FOREX trading scheme led by social media influencer Pho Duc Nam, widely known as "Mr Pips". Authorities seized approximately 280 kilograms of gold and 2 million U.S. dollars in cash linked to the scheme, labeling it one of Vietnam’s largest forex‑related fraud operations. The case involves fraudulent investment promises and misappropriated funds, highlighting organized financial crime networks using social media influencers to recruit victims. Anti‑fraud and economic crime units are continuing investigations and legal proceedings against the accused individuals.
- Status
- active
- Location
- Hanoi, Vietnam
- Date added
- 2026-03-26 00:56 UTC
- Last updated
- 2026-03-26 00:56 UTC
- Source
- VnExpress International
- Connected threats
- Not provided