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Financial crime investigations in Da Nang
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2026-11-04 08:22 UTC → 2026-11-05 05:23 UTC ·
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Authorities in Da Nang have targeted separate instances of financial misconduct involving corporate embezzlement and investment fraud. In October 2026, Le Hoang Khanh Nhut, the General Director of Da Nang Rubber Joint Stock Company (DRC), was prosecuted for “embezzlement of property.” Following the investigation by the Da Nang Police Security Investigation Agency, the company dismissed Nhut from his position and terminated his status as the legal representative. This legal action occurred alongside a reported decline in the company’s net profit. In November 2026, Da Nang police dismantled a fraudulent investment ring that allegedly misappropriated over 100 billion VND through the LB-Pro application. Phan Tuan Anh was arrested and charged with fraud and money laundering. The investigation Investigators found that the group used in 2023, Anh conspired with foreign nationals to establish shell companies to mimic and corporate bank accounts that mimicked legitimate projects and to lure investors. To conceal the money trail, the group converted stolen funds into USDT cryptocurrency to transfer assets to digital wallets managed by criminal organizations abroad. In one instance during August 2023, over 80 billion VND was moved through corporate accounts using this method. Several other individuals, including Nguyen Nhat Khanh, Tran Quoc Anh, and Nguyen Thi Kieu Nhung, were detained on money laundering charges. Authorities reported that the The ring allegedly defrauded over 150 victims. The LB-Pro application reportedly displayed fake balances and profits to build trust, allowing small initial withdrawals before blocking accounts and demanding additional fees once larger sums were invested. Police are currently seeking information from individuals who transferred money to LB Investment Management Co., Ltd. to assist in the ongoing investigation.
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- 2026-11-05 05:23 UTC Financial crime investigations in Da Nang
- 2026-11-04 08:22 UTC Financial crime investigations in Da Nang
- 2026-11-04 03:30 UTC Financial crime investigations in Da Nang
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