A 28-year-old Nigerian man, along with his Vietnamese wife and 11 others, was apprehended by Ho Chi Minh City police on allegations of orchestrating more than 250 companies to launder money for foreign-based criminals.
Police took action following reports of a Ukrainian company being duped by a criminal syndicate using fake email addresses, leading to money transfers to bank accounts in Ho Chi Minh City before being funneled to Cambodia.
After extensive investigation, authorities uncovered a network involving foreign individuals collaborating with Vietnamese partners, leading to the formation of numerous companies and fraudulent bank accounts for illicit activities.
Law enforcement seized digital and physical evidence from 12 locations, including the residence of the Nigerian man and his wife, where 234 company seals were confiscated.
The criminals deceived foreign companies into transferring money to Vietnamese entities posing as their partners, subsequently moving the funds internationally and ultimately routing them to specific locations in Cambodia.
Raids at identified locations yielded substantial amounts of cash, including VND9 billion ($355,099) and $1.5 million, along with other foreign currencies. The total value of illegal transactions at one gold shop alone was estimated to be around VND13 trillion.
The investigation into the case is ongoing.