Decoding the "get rich quick" trap
Today, as numerous Forex (foreign exchange) and disguised financial investment schemes are exposed, and many names once hailed as "investment idols" become defendants in fraud cases, I understand that bringing the truth to light requires a great deal of effort and time.
Few people know that, before names like Mr. Pips, Mr. Hunter, or a series of fraudulent foreign exchange trading platforms were exposed, the Tien Phong newspaper's team of reporters spent many years pursuing the topic, facing threats, psychological harassment, and even being hunted down to their families for exposing the dark side behind the promise of quick riches.
In October 2024, news that investigators had dismantled a financial investment fraud ring led by Pho Duc Nam (Mr. Pips) and his accomplices came as a surprise to many.
In 2026, Shark Binh (Mr. Nguyen Hoa Binh, Chairman of the Board of Directors of Ngan Luong JSC, the company managing the Ngan Luong payment gateway) and his accomplices were prosecuted. But for us - a group of reporters who have followed Forex scams for many years - this outcome had been predicted long ago.
Back in early 2020, the COVID-19 pandemic plunged the economy into unprecedented hardship. Numerous businesses stalled, workers lost their jobs, and many traditional investment channels plummeted. Enticing offers of "making money from home, investing in finance 4.0, high returns, low risk" flooded social media.
To infiltrate this network, we had to play various roles, from novice investors to brokers, and meet with all the active members. As a novice investor, I started joining Forex, BO (binary options), and cryptocurrency groups. The deeper I went, the clearer the picture became.
Behind the images of luxury cars, villas, and designer watches lies a whole system of luring people into a disguised multi-level marketing scheme. New participants are instructed to open accounts on trading platforms, deposit money through intermediary payment gateways or bank transfers. The biggest goal is not to make a profit from investment, but to recruit more new people into the system.
After months of undercover work, under the direct guidance of the leaders of the Economic and Social Affairs Department and the direction of the Editorial Board, the team of reporters carried out the investigative series "The Multi-Level Marketing Scheme in the 4.0 Era," dissecting the tricks of the financial models that are spreading in society.
Shortly after the articles were published, a fierce backlash began to emerge. From threatening phone calls to a manhunt for the reporter, the person I had contacted during the investigation quickly realized they were being portrayed in the newspaper.
Initially, it started with lengthy, abusive phone calls. Later, the perpetrators began using personal information provided during the investigation to exert pressure.
My personal Facebook page has been constantly attacked with insulting comments. Not stopping there, these individuals have also been searching for information about my mother, husband, and young child to post on social media with the aim of defaming and pressuring me. The situation escalated when they even tracked me down to my hometown.
Unable to find me, they went to my family's old residence and met my grandmother, who was then over 80 years old. Threats like "call your grandchild back here," and "otherwise you won't be safe" caused my relatives to be terrified for a long time. At one point, personal photos of me and my family were disseminated on many forums with distorted content. Some individuals even came to the newspaper office demanding to meet with reporters to "talk."
The arduous path to defending the truth.
In the years that followed, a series of Forex platforms, cryptocurrency exchanges, and financial investment projects disappeared one after another. Many systems that had attracted thousands of participants shut down overnight. In particular, the crackdown by investigators on the fraud ring led by Pho Duc Nam (Mr. Pips) and his accomplices demonstrated the enormous scale of this type of crime.
The images of luxury cars, mansions, and lavish lifestyles that were used for promotion on Facebook, TikTok, and Telegram turned out to be just tools to build trust and entice investors to deposit money.
In March 2026, the Hanoi City Police Investigation Agency issued a conclusion recommending the prosecution of the defendants: Pho Duc Nam (aka Mr. Pips, born in 1994, residing in Ho Chi Minh City); Le Khac Ngo (aka Mr. Hunter, born in 1990, residing in Hung Yen); Ngo Thi Theu (born in 1995, residing in Hai Phong, Ngo's wife), along with 72 accomplices for the crimes of "Fraudulent appropriation of property; money laundering; and harboring property obtained through criminal activity." Accordingly, Mr. Pips played the leading role in the crime, being responsible for all 738 cases, totaling 1,301 billion VND; Mr. Hunter was responsible for 180 cases, appropriating 216 billion VND. To facilitate the receipt of investor funds, Mr. Pips and his accomplices used the e-wallet system of Shark Binh's Ngan Luong Joint Stock Company as a payment intermediary, thereby creating a large-scale flow of money involving multiple forex platforms.
When these cases were publicized, many victims were shocked to realize the tactics that the press had warned about years earlier.
Many people came to the newsroom to meet with reporters, providing documents for their investment payments and admitting that they wished they had read the investigative articles more carefully back then. They wished they had stopped before investing. They wished they had heeded the warning signs of irregularities.
For many, the price to pay is the loss of life savings, years of accumulated debt, and broken families due to the vicious cycle of disguised financial investments.
Throughout my investigations into multi-level marketing schemes, Forex trading, cryptocurrencies, and other fraudulent fundraising projects, I've realized one thing very clearly: the victims aren't strangers. They could be our parents, siblings, friends, colleagues, or even our dearest loved ones. Therefore, when detecting unusual signs, investment models promising unrealistic returns, or "financial experts" flaunting luxurious lifestyles to entice participants, journalists cannot remain indifferent.
There may continue to be pressure, lawsuits, or threats, but the truth must always be defended to the very end. And that is why journalists continue to walk this arduous path.
Source: https://tienphong.vn/hanh-trinh-boc-tran-ma-tran-forex-post1853207.tpo
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