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The Hanoi People’s Procuracy has decided to return the case dossier and asked the Hanoi Police Department’s investigative agency to supplement several contents that have not yet been clarified in the case of Phó Đức Nam and his accomplices, involving asset fraud and money laundering.
After reviewing the investigation results, the Hanoi People’s Procuracy ordered the investigative agency to supplement aspects that remain unclear regarding Phó Đức Nam and related defendants.
Earlier, the Hanoi Police Department’s investigative agency completed the investigation and proposed prosecuting 75 defendants, including Phó Đức Nam (alias Mr Pips, born 1994, residing in Tam Thắng Ward, Ho Chi Minh City) on two charges: “Fraud” under Article 174 of the Penal Code and “Money Laundering” under Article 324 of the Penal Code.
Among those proposed for prosecution for “Money Laundering” alongside Nam are Phó Đức Thắng (born 1968, Nam’s father), Lê Thị Liễu (born 1969, Nam’s mother), and Nguyễn Hòa Bình (born 1981, aka Shark Bình).
According to the investigation, in 2019 Nam conspired with Isik Uran (born 1984, Turkish nationality) to jointly establish 36 websites. The investigation states that Nam directed subordinates to set up “shell” companies.
These companies were allegedly used to recruit personnel, sign service contracts for renting phone numbers used for the Zoiper application, and open 69 bank accounts and accounts at intermediary payment companies linked to the exchanges to receive funds from victims.
The investigation also determined that Nam rented offices in major provinces and cities including Hanoi, Ho Chi Minh City, Da Nang, and Bình Dương (formerly) to recruit staff. The offices allegedly operated independently while coordinating closely to form a fraud network.
Investigators concluded that Phó Đức Nam acted as the mastermind, defrauding more than 1,300 billion dong. The accomplice identified as supporting Nam was Lê Khắc Ngọ (born 1990, residing in Phú Diễn Ward, Hanoi).
In the case, investigators stated that Ngọ discussed with Nam plans to expand the system of stock and forex exchanges nationwide in Vietnam. Nam allegedly trusted Ngọ to manage 20 offices used to entice victims to invest and appropriate assets.
Ngọ was found responsible for 180 fraud cases totaling more than 216 billion dong taken from victims.
In total, investigators charged 83 defendants, including 75 defendants charged with the two offenses mentioned above.
For eight defendants who are at large—Isik Uran (Turkish national), Vuong Phuong Anh, Dang Hoang Lien Anh, Trinh Van Thai, Phan Thi Hoa, Tran Van Lam, Le Ha Trang, and Tran Quoc Huy—investigators issued arrest warrants and separated the case to continue investigating the fraud.
Investigators also separated actions involving 1,722 individuals working in offices where victims have not yet been identified due to insufficient evidence to prosecute.
According to the investigation agency, the case involves fraud and money laundering, harboring assets derived from others’ crimes, and serious tax evasion, occurring in Hanoi and several other provinces nationwide.
The investigation agency stated that the criminals committed organized transnational crimes using information technology and the Internet to create illegal international stock and forex exchanges.
Investigators also cited alleged methods used to evade detection, including organizing independent departments, communicating and directing via secure messaging apps, and extensively exploiting OTT services (Zalo, Telegram, Signal, Zoiper) to advertise and operate the illicit exchanges.
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