According to the investigation agency, the victims in the case were "found" through the records of the sales staff, with full names and personal information. In particular, the data on the initial deposit amount of 2,661 victims was about 50 million USD. The investigation agency is continuing to expand the case, continuing to track to the end, because there are hundreds of seized computers that need to be exploited.

Regarding the case, Hanoi City Police requested that victims of fraud on websites, trading floors... report to the Criminal Police Department of the Police of provinces and cities nationwide for guidance on how to handle the case.

Among the thousands of people who were scammed by Mr Pips, there was a case of a university student who was scammed out of 8 billion VND. This 22-year-old student from Quang Ninh sent a message to Pho Duc Nam via Facebook to make friends and get to know him, with the aim of learning about the stock exchanges Nam was investing in.

Following Pho Duc Nam's words, the victim made 37 transactions transferring money from his personal account to Nam's stock exchange, only to be scammed and misappropriated.

z6116604977746 0c3d686f7251a251306ae68c268c98a1 112932.jpg
Subject Pho Duc Nam. Photo: Provided by the police

Another victim, 43 years old, in Da Nang, who was scammed of more than 10 billion VND, said that in March 2020, while researching investment forms, she received a message via Zalo from a person who introduced herself as an employee of the GKFX floor, asking her to invest in international stocks and shares.

After agreeing to participate, the woman deposited 17 times the amount of 315,000 USD (equivalent to 8 billion VND) into the account, and made transactions according to the instructions for placing and closing orders, only to later realize she had been scammed.

Desire to be compensated

Having lost money and suffered, the victims in this case not only want to find and prosecute the criminals, but they also want to get their property back soon.

Discussing the wishes of the victims in the case of Mr. Pips and his accomplices committing fraud and appropriation of property, Dr. and lawyer Dang Van Cuong said that the consequences of fraud and appropriation of property for the victims and society are enormous, not only causing damage to the victims' property, but also causing many consequences for society. Not to mention the losses incurred by the victims can push them into a state of extreme poverty and misery, affecting the health and happiness of the victims' families...

screenshot 2024 12 10 164927 1704 112935.png
Many billion-dollar supercars in the network were seized by the police.

Therefore, in this criminal case, the victim not only requested strict punishment for the crime but also had the right to present documents and objects, receive back the confiscated property and receive compensation for damages according to the provisions of law.

According to the lawyer's analysis, during the process of resolving a criminal case, if the defendant or the defendant's relatives voluntarily compensate and remedy the consequences, the victim can receive the property before prosecution or during the criminal proceedings.

In case the accused and his relatives do not voluntarily compensate for the consequences, do not voluntarily return money and property to the victim before prosecution and during the criminal proceedings, the prosecution agency will apply preventive and coercive measures to seize, seal, freeze, and confiscate property related to the crime or property of the offender to ensure execution of the judgment.

In this case, the assets seized were estimated at 5,200 billion VND. By December 27, 2024, the police had seized an additional 12 billion VND, 18 apartment buildings and villas, and identified 500,000 USD in foreign accounts...

Dr. Dang Van Cuong said that the prosecution agency will continue to maintain preventive measures for money or assets obtained through crime such as cars, gold and other types of assets to avoid dispersion of assets, as a basis for determining criminal acts and to ensure execution of sentences.