Video: Exposing Mr Pips' trillion-dong fraud
Secretary of the Hanoi Party Committee Bui Thi Minh Hoai has just sent a letter of commendation to the Hanoi City Police for coordinating with professional units of the Ministry of Public Security to investigate and dismantle a criminal ring related to Pho Duc Nam (TikToker Mr Pips, 30 years old, residing in Ba Ria - Vung Tau).
This is a transnational crime ring, using high technology to defraud and appropriate people's assets through calling for investment on illegal foreign exchange and stock exchanges.
“This is a particularly serious case of fraud and property appropriation, with sophisticated and professional criminal methods, taking place mainly in cyberspace, making it very difficult to detect and control.
However, with intelligence, creativity, and determination to fight crime to the end, officers and soldiers of the Criminal Police Department, the Technical Department - Hanoi City Police, and Cau Giay District Police have synchronously deployed professional measures to detect, arrest, and coordinate with the People's Procuracy of Cau Giay District to handle the ringleaders and related subjects in the case," the Secretary of the Hanoi Party Committee emphasized.
Defendant Pho Duc Nam at the investigation agency.
As a result, the authorities have so far initiated criminal proceedings against 26 defendants for the crimes of Fraudulent appropriation of property, Money laundering, Failure to report crimes, and have temporarily seized many assets, objects, and documents related to criminal activities. The total value of confiscated and frozen assets of the subjects is over 5,000 billion VND.
According to the Secretary of the Hanoi Party Committee, this is an outstanding achievement of officers and soldiers of the professional units of the City Police and the People's Procuracy of Cau Giay District in the fight against crime, for national security, for the peaceful and happy life of the people; contributing to deterring and preventing crime, stabilizing the security and order situation in Hanoi.
Previously, at the end of October 2024, the Hanoi City Police Investigation Agency coordinated with Cau Giay District Police and other professional units to dismantle a fraud ring that appropriated assets on the internet, occurring in Hanoi and several provinces and cities across the country.
Initial investigation results determined that Pho Duc Nam colluded with Le Khac Ngo to set up a fraud ring to appropriate assets, following the model of stock brokerage companies.
By urgently searching the defendants' residences and workplaces, the investigation agency seized and frozen the subjects' assets worth a total of more than 5,000 billion VND.
Of which, 316 billion VND in cash in the account, bonds worth 9 billion VND, savings books worth more than 200 billion VND; 69 billion VND. In addition, there are 2.3 million USD, 890 SJC gold bars, 246 kg of solid gold, 31 supercars, 7 luxury motorbikes, 59 famous brand watches worth a total of about 300 billion VND, 84 pieces of gold jewelry, inlaid with diamonds. In addition, the authorities have frozen transactions for 125 real estates.
TikToker Mr Pips (Pho Duc Nam) is famous for his videos about luxurious life and how to make money, with hundreds of thousands of followers on TikTok and YouTube.
On social networks, Nam introduced himself as having 10 years of experience in the international gold and stock investment market to invite people to join. Nam often committed to having sure-win strategies so "whoever joins will have high profits" to gain the trust of many people.
Nam is also the founder and operator of a community of about 20,000 members on Telegram to share experiences with investors.
Source: https://vtcnews.vn/bi-thu-ha-noi-bieu-duong-luc-luong-pha-vu-an-tiktoker-mr-pips-pho-duc-nam-ar912814.html
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