$160m fraud: Vietnamese police arrest two Nigerians, five others

Image

The police in Vietnam have accused a group that includes two Nigerian nationals (names not mentioned) and five additional suspects of orchestrating a sophisticated international fraud worth roughly $160m (approximately VND4.15tn) through the creation of over 300 fictitious businesses.

According to a Sunday report by VnExpress News, which referenced official police documentation, the alleged scheme was primarily carried out with assistance from a Vietnamese-led network.

A summary submitted by Ho Chi Minh City police to prosecutors last Friday indicated that the financial channels used by the accused were predominantly linked to Nigerian-based bank accounts.

The report further revealed that the investigators claimed the accused individuals gained unauthorised access to business email systems during active contract discussions.

“They created fake email accounts nearly identical to legitimate ones, differing by a single character, to deceive clients into changing transaction account details.

“In Vietnam, Minh’s group established nearly 300 shell companies with foreign-sounding names, closely resembling those of their victims’ partners,” the report read.

The report quoted police officials alleging that the shell companies set up dual-currency accounts—one for foreign currencies and another for Vietnamese dong—to accept incoming payments. Punch