[REVISION HISTORY]

Financial crime investigations in Thanh Hoa

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2026-10-26 03:08 UTC → 2026-10-26 17:05 UTC · added ~~removed~~

Authorities in Thanh Hoa have conducted major investigations into distinct large-scale fraudulent operations. In one instance, provincial police launched an investigation into a massive tax evasion ring involving the fraudulent use of Point of Sale (POS) terminals. The group allegedly processed approximately 15,000 trillion VND in fictitious transactions by exploiting business information to register bank accounts and obtain machines through intermediaries. The scheme facilitated credit card cash withdrawals and debt settlements under the guise of legitimate commerce, with police seizing thousands of credit cards and hundreds of POS machines. Authorities have summoned 30 individuals in Thanh Hoa and Hanoi for questioning. Separately, police dismantled a transnational cyber fraud ring operating from a hotel in Nghi Son. Led by a Chinese national, Zhao Xuefeng, the organized syndicate utilized a structured departmental system to target victims in several countries, including Taiwan, South Korea, Japan, India, the United States, and China. The group employed various tactics, such as impersonating investment professionals for cryptocurrency and stock scams, as well as fake job recruitment and online sports betting schemes. Following the investigation into the ring at the Van Hoa Hotel, authorities arrested 118 individuals and initiated prosecution against 84 suspects. In a related development, the Criminal Police Department and Thanh Hoa police arrested 113 foreign nationals involved in a transnational online fraud and gambling syndicate. Initial investigations indicate approximately 50 billion VND was misappropriated. This crackdown follows warnings from the Ministry of Public Security regarding criminal organizations shifting operations from Cambodia, Myanmar, and Laos into Vietnam. Further details regarding the Van Hoa Hotel operation reveal that Chinese nationals collaborated with Vietnamese individuals to establish Kinh Vi Space Co., Ltd. to lease hotel facilities for fraudulent activities. The group utilized computers, telecommunications, and electronic devices to conduct online scams and illegal gambling.

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