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Fugitive in $208M Fraud Arrested and Extradited to Vietnam

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Photo courtesy of VN Express

 

Vietnamese fugitive Le Khac Ngo, known as Mr. Hunter, was extradited from the Philippines to Vietnam, facing charges in a massive fraud scheme. The Hanoi Police Department confirmed Ngo's return, marking a significant step in the case involving over VND5.3 trillion (US$208 million) allegedly swindled. Arrested in September for illegal entry into the Philippines, Ngo had previously fled Vietnam via Cambodia.

 

Before Ngo's extradition on December 13, his wife was captured and extradited from Thailand in July, emphasizing international collaboration in this investigation. Ngo and Pho Duc Nam, alias Mr. Pips, are accused of masterminding a complex property fraud case. Their alleged operation involved creating fake forex trading platforms that manipulated investors, promising high returns.

 

Beginning in 2021, the syndicate operated under the appearance of credible financial investment firms, exploiting platforms like MT4 and MT5 for credibility. Despite initial small returns to secure investor trust, victims reported being unable to retrieve larger sums due to fabricated system errors. This fraudulent system, managed by Nam's group, was intricately linked to their personal bank accounts.

 

The ongoing investigation involves prosecuting approximately 550 salespeople affiliated with the fraud. Authorities have received 669 complaints from victims, with confirmed losses surpassing VND1.187 trillion ($46.5 million). This staggering fraud, Vietnam’s largest in the forex and securities sector, capitalized on victims' aspirations for wealth, enticed by the lavish personas of Nam and Ngo.

 

Looking forward, Vietnam’s authorities are poised to intensify their crackdown on financial fraud. The prosecution of those involved will serve as a warning, underscoring the serious repercussions of participating in such schemes. Victims and informed parties await legal proceedings and the potential recovery of funds, reported VN Express.

 

Key Takeaways

  • Le Khac Ngo, involved in a massive fraud, extradited from the Philippines.
  • Over VND5.3 trillion ($208 million) allegedly swindled through sham trading platforms.
  • Vietnam braces for extensive prosecutions and legal actions in this landmark case.

 

Related Stories:

Fraudster Arrested for Multi-Million Baht Scam

Woman Fraudster Nabbed for Renting Cars, Smuggling Abroad

 

image.png  Adapted by ASEAN Now from VN Express 2025-12-17

 

 

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