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There are still unresolved issues in the case involving Phó Đức Nam (Mr Pips), who is alleged to have defrauded more than VND 1.3 trillion. The People’s Procuracy has returned the case file and requested supplementary investigation.
The Hanoi People’s Procuracy decided to return the case file and require the Hanoi Police Department to conduct supplementary investigation into aspects of the case against Phó Đức Nam and his accomplices that have not been clarified.
The defendants face charges of Fraud and Money Laundering. The police previously proposed charging Phó Đức Nam (born 1994, residing in Ho Chi Minh City; originally from Thanh Son ward, Ha Tinh province), Le Khac Ngo (Mr Hunter; born 1990, Hung Yen), and 73 others.
Nam and Ngo are jointly charged with Fraud. In addition, Nam is investigated for Money Laundering. The remaining defendants are charged with combinations of Fraud, Possessing or using assets derived from another’s crime, Money Laundering, and Tax Evasion.
According to the investigation conclusion, Nam orchestrated with Isik Uran (a Turkish national, at large) to establish 36 websites. Nam allegedly directed staff to open shell companies used to recruit personnel, sign contracts for leasing phone numbers used by the Zoiper application, and open 69 bank accounts and intermediary-payment accounts linked to exchanges to receive investors’ funds.
The investigation also alleges that Nam rented offices nationwide to recruit staff. These activities are described as operating independently yet in a coordinated manner to form a complete system for the fraud scheme.
Nam is accused of acting as the mastermind and head of the scheme, responsible for 738 cases totaling about VND 1.301 trillion.
To conceal part of the proceeds, in October 2021 Nam instructed his girlfriend Nguyen Thanh Tam to contact Phó Đức Thắng (Nam’s father) to obtain information on the person registered to open companies.
The companies were used to buy and sell real estate in Ho Chi Minh City and nearby provinces. Tam, Thắng, and Le Thi Lieu (Nam’s mother) also registered ownership of certain properties, mostly luxury apartments in Ho Chi Minh City and Hanoi.
Notably, on 31 October 2024, after learning of Nam’s arrest, his parents withdrew funds to buy gold and USD and transferred assets to relatives for safekeeping.
On the same day, defendant Thắng withdrew VND 30 billion from two Techcombank savings accounts; VND 20 billion from another account; and VND 15 billion in cash from a savings book.
He also withdrew VND 30 billion in cash from Vietcombank and VND 20 billion from MB Bank. After the withdrawals, Thắng transferred VND 45 billion to his nephew, gave VND 20 billion to a CDC colleague in Ba Ria–Vung Tau, and provided VND 20 billion to a younger relative.
Defendant Le Thi Lieu withdrew VND 30 billion from Vietcombank and VND 30 billion from MB Bank. She and her mother later purchased 500,000 USD and 314 taels of SJC gold, then stored the money and gold in two backpacks and a suitcase with code locks. Lieu sent the luggage containing the money and gold to a nephew.
Two backpacks contained VND 5.7 billion, 134 SJC gold bars, and 100,000 USD sent to another nephew. Lieu also asked her mother to help open two savings books in the name of the elder for a total of VND 15 billion.
In this case, Nguyen Thi Thuy (Nam’s aunt) is also charged with Money Laundering and Tax Evasion for helping Nam purchase three properties worth VND 36 billion and declaring a lower price to evade VND 284 million in taxes.
Another relative, Phó Đức Tuấn, is accused of Harboring assets derived from crime. Tuấn allegedly knew Nam was arrested but helped conceal VND 7 billion.
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