Five individuals arrested for cryptocurrency investment fraud.

(NLĐO) - The Khánh Hòa Provincial Police have initiated legal proceedings against 5 individuals for fraud through a cryptocurrency investment scheme.

On October 31, the Security Investigation Agency of the Khanh Hoa Provincial Police announced that it had initiated legal proceedings and temporarily detained five people for investigation into the crime of fraud and appropriation of property.

Specifically, the individuals involved include: Ngo Thanh Long and Ngo Quang Son (both 43 years old, residing in Tich Luong ward, Thai Nguyen province), Nguyen Thi Minh (63 years old, residing in Tam Thang ward, Ho Chi Minh City), Nguyen Van Ngoc (36 years old, residing in Tue Tinh commune, Hai Phong city), and Ngo Son Tung (42 years old, residing in Bat Bat commune, Hanoi city).

The subject is Ngo Quang Son.

According to the Security Investigation Agency of the Khanh Hoa Provincial Police, Ngo Quang Son is the suspected mastermind and leader of this fraud ring in this case.

Initial information indicates that, starting in October 2024, this group purchased and operated a fraudulent cryptocurrency investment system called "3COMMAS," designed to mimic international exchanges.

This group provided false information about an intelligent "Trading Bot" capable of generating profits with an interest rate of 0.7% per day, depending on the investment package of 2,000 to 30,000 USDT or more.

The cryptocurrency investment system is called "3COMMAS".

In addition to receiving profits from the investment package, investors also earn commissions from referring other investors in a multi-level marketing model, including direct referral commissions and profit-sharing commissions.

Through investigation, the police discovered that this system actually had no trading bots or profitable operations. All the USDT deposited by investors into the master wallet was transferred by Ngo Thanh Long to intermediary wallets for embezzlement and then divided among themselves.

In Khanh Hoa province alone, investigators have proven that this group embezzled over 300 million VND from four victims. The case is currently under investigation and being expanded by the Khanh Hoa Provincial Police.

Source: https://nld.com.vn/bat-5-doi-tuong-lua-dao-dau-tu-tien-ma-hoa-196251031172142092.htm