Hanoi Court Trials Mr Pips, Shark Binh in 1,560 Billion VND Fraud Case

Phó Đức Nam Nguyễn Hòa Bình money laundering financial fraud Hanoi People's Court

The Hanoi People's Court commenced the first-instance trial of 188 defendants on October 26 in a massive financial fraud and money laundering case. The proceedings involve high-profile figures including Phó Đức Nam (known as Mr Pips), Lê Khắc Ngọ (Mr Hunter), and Nguyễn Hòa Bình (known as Shark Binh).

Phó Đức Nam is identified as the mastermind behind 919 fraudulent cases, using fake websites that mimicked international forex and stock trading platforms to deceive investors. The total amount misappropriated is estimated at nearly 1,560 billion VND. Lê Khắc Ngọ and Phó Đức Nam face charges of fraudulent appropriation of property and money laundering.

Nguyễn Hòa Bình, Chairman of NextTech Group and Ngân Lượng Company, is being prosecuted for money laundering. Prosecutors allege he facilitated the laundering of approximately 320 billion VND through his company's electronic wallet system.

Due to the scale of the case, which involves 919 victims and nearly 100 related parties, the trial is being conducted across three locations using a combination of direct and online formats. The trial is expected to last 15 days, with over 200 lawyers registered to participate in the defense.

Entities

Hanoi People's Court · Lê Khắc Ngọ · NextTech Group · Nguyễn Hòa Bình · Pho Duc Nam · Phó Đức Nam

Claims

What the coverage asserts, and how many sources carry each claim.

[● 10 SOURCES] The trial is expected to last for 15 days. baogialai.com.vn · baoxaydung.vn · afamily.vn · kienthuc.net.vn · htv.vn · +1 more
[● 7 SOURCES] The group created 36 fake websites that mimicked international financial trading platforms. www.nguoi-viet.com · doanhnghiephoinhap.vn · thanhnien.vn · cafebiz.vn · www.vietnamplus.vn
[● 11 SOURCES] The trial will use a combination of direct and online formats due to the high number of participants. baogialai.com.vn · vtv.vn · doanhnghiephoinhap.vn · thanhnien.vn · htv.vn · +2 more
[● 18 SOURCES] Nguyễn Hòa Bình (Shark Binh) is being prosecuted for money laundering. baolaocai.vn · www.nguoi-viet.com · baogialai.com.vn · vtv.vn · baoxaydung.vn · +13 more
[DISPUTED] Phó Đức Nam (Mr Pips) is accused of being the mastermind behind 919 fraudulent cases totaling nearly 1,560 billion VND. baolaocai.vn · cafebiz.vn · thanhnien.vn · baoxaydung.vn · kienthuc.net.vn · +5 more
[● 16 SOURCES] The defendants face charges of fraudulent appropriation of property, money laundering, tax evasion, and concealing assets. baolaocai.vn · baogialai.com.vn · vtv.vn · baoxaydung.vn · doanhnghiephoinhap.vn · +6 more
[● 17 SOURCES] The Hanoi People's Court is conducting the first-instance trial of 188 defendants on October 26. baolaocai.vn · baogialai.com.vn · vtv.vn · baoxaydung.vn · doanhnghiephoinhap.vn · +7 more
[● 5 SOURCES] More than 200 lawyers are registered to participate in the defense. baogialai.com.vn · doanhnghiephoinhap.vn · kienthuc.net.vn · htv.vn · vtv.vn
[● 5 SOURCES] The trial is being conducted at three different locations, including a detention center. baogialai.com.vn · doanhnghiephoinhap.vn · htv.vn · kienthuc.net.vn · vtv.vn
[● 3 SOURCES] Nguyễn Hòa Bình is accused of laundering nearly 320 billion VND. afamily.vn · tienphong.vn · tuoitre.vn