DA NANG – CRACKING DOWN ON A FRAUD CASE OF ASSET THEFT IN MULTI-LEVEL MARKETING OF VIRTUAL CURRENCY WORTH THOUSANDS OF BILLIONS OF DONG
Implementing the directive of the Minister of Public Security on launching a peak period to combat crime; The Da Nang City Police have successfully focused their forces to dismantle a specialized case, arresting a group of individuals engaged in criminal activities using high technology to seize assets through fraud in multi-level marketing of virtual currency with a complicated nature and a nationwide scale, the amount of money involved being exceptionally large.
Accordingly, on December 15, the Da Nang City Police coordinated with the Cybersecurity and High-Tech Crime Prevention Department – Ministry of Public Security, and the People's Procuracy of Da Nang City to simultaneously deploy forces, means, and professional measures to arrest 8 individuals in the specialized case, among which the ringleader is Huynh Duc Van (33 years old, residing in Hoa Cuong Ward, Da Nang City).
The initial investigation results determined: Around the beginning of 2020, Huynh Duc Van colluded and negotiated to divide work with 03 individuals in Ho Chi Minh City and many others to create a “ghost” project for a virtual currency named “DRK” and then ramped up communication with many false information on social media to lure many people to participate in order to seize the assets of investors.
After successfully luring many investors to participate until the end of 2021, the individuals decided to shut down the DRK project, delete the website, erase the fanpage, and related groups to seize all the money from the investors and then sell it for Vietnamese currency for personal spending.