- Authorities dismantled a large-scale call center scam operating in Vietnam and Cambodia.
- The operation involved a Turkish leader, 35 Vietnamese partners, and over 1,000 employees.
- Scammers used mule accounts to move and withdraw large amounts of money undetected.
- More than 2,600 people lost money in a Ponzi or pyramid scheme promising quick profits.
- Experts warn about fake tokens imitating real cryptocurrencies, trapping unsuspecting investors.
Police arrested a Turkish national accused of running a widespread online fraud ring with 35 Vietnamese accomplices. The group operated 44 fake call centers across major Vietnamese cities, including Ha Noi, Ho Chi Minh City, Da Nang, and Hoi An, as well as in Phnom Penh, Cambodia. Their goal was to defraud victims using deceptive investment schemes.
Officials stated that over 1,000 employees worked for the criminal network. While evading capture, the main suspect, Theu, continued to control the flow of illegal funds. He used mule bank accounts in Vietnam to transfer cash to partners in Thailand. Each withdrawal was around $30,800, which helped avoid alerting financial authorities.
According to experts, more than 2,600 victims lost money through a Ponzi or pyramid scheme. These schemes promise high returns to initial investors, but actually use funds from new recruits to pay earlier participants. When new investments decrease, the pyramid collapses, causing major losses.
Tran Huyen Dinh, chairman of the Digital Assets – Fintech Committee under the Vietnam Blockchain Association, said that Scams have become more sophisticated. He warned investors about counterfeit tokens that closely resemble legitimate cryptocurrencies, tricking people into purchasing fake assets.
Theu is now in custody and will be sent back to Vietnam to face charges. Vietnamese authorities continue to investigate the broader network linked to these call centers and illicit financial activities.
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