Authorities in Nhu Xuan District, Thanh Hoa Province, have successfully dismantled a fraud ring involving foreign exchange stock trading through the “Fnory.com” platform.
Law enforcement has temporarily seized 20 apartments and villas, 47 land use certificates and various types of transaction documents, 60 mobile phones, 10 laptops, 1 desktop computer, and other valuable items.
Additionally, 13 luxury vehicles worth billions of Vietnamese dong were confiscated, including a Mercedes-Maybach GLS 480 4Matic valued at nearly 9 billion dong, a Bentley worth over 20 billion dong, and other high-end cars such as Range Rover, BMW 320i Sport Line, Mercedes-Benz GLC 200 4Matic, and Lexus.
The total value of the seized assets exceeds 200 billion dong.
The investigation by Nhu Xuan police revealed that the “Fnory.com” foreign exchange stock trading platform was exhibiting fraudulent behavior, deceiving customers to appropriate their assets.
The perpetrators spread false information, claiming to be a legitimate UK-based platform offering high investment returns. They used social media platforms like Facebook, Zalo, and Telegram to lure and recruit investors.
Once onboard, investors were added to exclusive groups. The scammers, posing as financial experts, would then provide bogus advice and orders to manipulate customers into making trades.
The funds obtained from defrauding customers were transferred to virtual accounts, with the proceeds being divided among the scammers according to their management hierarchy. Some of the illicit gains were used to purchase luxury vehicles and invest in real estate.
TH (Tuoitrethudo)
Image source: Thanh Hoa Police
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