Busting a virtual currency ring worth trillions of dong

According to the investigation, since 2019, Thoai has bought the CachBack Pro (CBP) virtual currency project from abroad to Vietnam with the purpose of doing business to create more profits. Through foreign subjects, Thoai created virtual transactions and promoted virtual currencies traded on a number of virtual currency websites in the world . After promoting virtual currencies on a number of websites, Thoai created an application for buying and selling goods with commissions in CachBack Pro virtual currency and the speeding.vip application website (calling for investment, developing the system to receive commissions converted into virtual currency), CBP Wallet (virtual currency wallet) to supply CBP digital currency in a multi-level manner.

Through a network of participants with many different levels and branches, participants receive direct commissions and bonuses if they connect to the community or open their own account to participate in the investment package in the network they built themselves.

To develop the system and attract more investors, Thoai divided the groups, provided virtual currency accounts and directed and guided the leaders of the branches (teams) including: Vu Phong; Dinh Van Tue; Le Thi Xiem... to attract and entice participants. Thoai established BBA Global Joint Stock Company to organize promotional training events, using the company headquarters.

Although BBA Global Joint Stock Company and Than Van Thoai himself did not have a multi-level marketing business registration certificate, Thoai directed the subjects: Tue, Xiem, Phong, Yen... to organize seminars and talks at the Company's headquarters (address: Nhan Chinh, Thanh Xuan, Hanoi ) to preach about financial management, learning to get rich, thereby promoting and introducing the benefits of CBP coin and participating in the speeding.vip community.

The group also offers policies to attract investors such as: paying commissions, attractive profits (0.5%/day profit, 12%-50% commission when developing a branch in the system, receiving profits from 29 subordinates, the value of CBP coins in speeding.vip is hundreds of times higher than the market value); giving a certain amount of coins when investors open an account, dividing investors into many levels, organizing 5-star tours for investors who deposit money into the system in large quantities; dividing into many investment packages from 1,000 USD - 100,000 USD, the higher the investment package, the bigger the commission; interest rates are continuously shown and added to the account; multiple accounts can be created at the same time to participate in the system... to stimulate and attract investors to participate.

In addition, Thoại also set a convention when joining the community: locking the CBP deposit direction into the speeding.vip platform, so when investors want to participate, they are required to buy the number of coins from the upper-level people (members of the speeding community). Each person will be connected or introduced to 2 people or open 2 accounts for themselves below, with no limit on the number of levels or classes of participants, but the commission paid to investors will stop at the 29th level.

With the above tricks, from March 2021 to June 11, 2024, through the speeding.vip application website, Than Van Thoai and the leaders created an investment community with hundreds of thousands of participating accounts with the value of investment packages shown on the system up to tens of billions of dollars, built many floors, each floor has many small branches, connected the system and benefited from an especially large amount of money, causing damage to many investors.

Based on the investigation documents, on June 25, 2024, the Hanoi City Police Investigation Agency issued a Decision to prosecute the case against Than Van Thoai and 7 related subjects.

Previously, on August 22, 2022, the Hanoi City Police Investigation Agency issued a decision to prosecute the case of using computer networks, telecommunications networks, and electronic means to commit property appropriation at BBI Vietnam Internet Joint Stock Company. On May 20, 2024, the Investigation Police Agency issued a decision to prosecute Ho Quoc Anh, Chairman of the Board of Directors of BBI Vietnam Internet Joint Stock Company, and Than Van Thoai for using computer networks, telecommunications networks, and electronic means to commit property appropriation.

Hanoi City Police requested those who participated in the projects BBI Mall, CashBackPro, CBP virtual currency, SVIP, VNDO, CBP Wallet, Future City... and other projects related to BBI Vietnam Internet Joint Stock Company, BBA Global Joint Stock Company, projects developed and operated by Than Van Thoai and Ho Quoc Anh, to report and coordinate with the investigation agency to verify and clarify.

According to Tin Tuc Newspaper

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