Police in Da Nang say bust is greatest cash laundering case ever uncovered within the central coastal metropolis.
Vietnam police say they’ve arrested 5 individuals and smashed a cash laundering ring that introduced $1.2bn of prison money into the nation from overseas.
Between 2022 and 2024, members of the ring – which included financial institution workers – solid identification playing cards and financial institution seals to determine 187 companies, opening greater than 600 company financial institution accounts, in line with authorities.
The accounts had been used to switch and legalise cash obtained by fraud or playing overseas, police mentioned in a press release on Wednesday, including that complete transactions amounted to about $1.2bn.
The arrests – together with one financial institution worker – had been made in Da Nang, the place police mentioned it was the most important cash laundering case ever uncovered within the central coastal metropolis.
Police have seized 122 faux seals and authentic copies of 40 enterprise registration certificates.
In October, Vietnamese property tycoon Truong My Lan was jailed for all times on cash laundering fees, though she is interesting the decision.
The property developer had already been handed the loss of life penalty for fraud totalling $27bn in a separate case.
