Hanoi Court to Try Mr Pips and Shark Binh in Major Fraud Case

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

The Hanoi People's Court is scheduled to begin a first-instance trial on October 26 for 188 defendants involved in a massive fraud and money laundering scheme. The trial, presided over by Judge Tran Nam Ha, is expected to last 15 days and will be conducted through a combination of in-person and online sessions across three locations to accommodate the large number of participants, including over 200 defense lawyers and hundreds of victims.

Phó Đức Nam, known as Mr Pips, is identified as the ringleader. He is accused of orchestrating 920 fraud cases that misappropriated over 1,568 billion VND. To launder the proceeds, Nam allegedly used 141 billion VND to purchase 78 one-kilogram gold bars, along with luxury cars and real estate.

Other key defendants include Lê Khắc Ngọ (Mr Hunter), responsible for 287 fraud cases totaling 344 billion VND, and Nguyễn Hòa Bình (Shark Binh), the Chairman of NextTech Group, who faces charges of money laundering. The investigation revealed that the group operated illegal forex and stock trading websites designed to mimic international platforms. The trial also involves several of the defendants' family members and associates, who are charged with money laundering and other offenses.

Entities

Hanoi · Hanoi People's Court · Lê Khắc Ngọ · Mr Pips · NextTech Group · Nguyễn Hòa Bình · Phó Đức Nam · Shark Bình

Claims

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

[● 3 SOURCES] Phó Đức Nam used 141 billion VND to purchase 78 one-kilogram gold bars. baolaocai.vn · afamily.vn · kenh14.vn
[● 5 SOURCES] Of the 188 defendants, 163 are currently in detention. baolaocai.vn · nhandan.vn · genk.vn
[● 6 SOURCES] The trial will use three different locations, including a central courtroom and a detention center. baolaocai.vn · baogialai.com.vn · nhandan.vn · genk.vn
[● 4 SOURCES] Lê Khắc Ngọ (Mr Hunter) is responsible for 287 fraud cases totaling 344 billion VND. afamily.vn
[● 8 SOURCES] The Hanoi People's Court will hold a trial for 188 defendants on October 26. baolaocai.vn · baogialai.com.vn · nhandan.vn · genk.vn · soha.vn
[● 4 SOURCES] Lê Khắc Ngọ was arrested in the Philippines after fleeing to Cambodia. afamily.vn
[DISPUTED] Phó Đức Nam (Mr Pips) is responsible for 920 fraud cases totaling over 1,568 billion VND. baolaocai.vn · nhandan.vn · genk.vn · afamily.vn · cafef.vn · +1 more
[● 6 SOURCES] Nguyễn Hòa Bình (Shark Binh) is being tried for money laundering. baolaocai.vn · baogialai.com.vn · nhandan.vn · genk.vn