Four arrested for fraudulent smartphone contracts and banking fraud

Four individuals, including 26-year-old Chu Ngoc Hoang, have been arrested by the Metropolitan Police Department on suspicion of orchestrating a scheme involving fraudulent smartphone contracts used for illegal internet banking transfers.

The suspects allegedly instructed six university students to contract smartphones using false information regarding their occupations and annual incomes. In exchange, the students were reportedly paid between 20,000 and 30,000 yen per device. These smartphones were then sold to various buyers, including resale shops, and subsequently used to facilitate unauthorized access to bank accounts and illegal fund transfers.

One specific incident involved the unauthorized transfer of approximately 200,000 yen from a company employee's account. Investigators believe Chu Ngoc Hoang has sold more than 700 smartphones through such methods. While police have seized over 50 devices from one location, Chu has denied involvement in the crimes.