Le Khac Ngo, known as "Mr Hunter" and a key figure in a massive fraud syndicate, has been apprehended in the Philippines. Lieutenant General Nguyen Thanh Tung, Director of Hanoi Police, announced Ngo's arrest on the afternoon of 14/11. Hanoi Police collaborated with the Philippine National Police for the capture, as part of an investigation into a large-scale property appropriation fraud case led by Mr Pips and Mr Hunter.

Hanoi Police are currently working with relevant agencies to finalize Ngo's extradition to Vietnam. His wife, Ngo Thi Theu, was previously arrested in Thailand and brought back to Vietnam in connection with the same case.

Mr Hunter Le Khac Ngo before his arrest. *Photo: FBNV*

The criminal syndicate, led by Pho Duc Nam (Mr Pips) and Le Khac Ngo (Mr Hunter), commenced operations in Vietnam in 2021. They established numerous English-interface websites, designed to mislead participants into believing they were reputable international foreign exchange platforms. These sites were actually programmed to link directly to bank accounts managed by Nam's group.

Operating under the guise of international financial investment companies, the syndicate used trading applications such as MT4 and MT5 to entice individuals into "investing in international stocks and forex". They promised high returns with no risk.

Sales staff were recruited and trained to approach victims via phone or social media. Initially, victims were allowed to win small trades to build confidence. Subsequently, Nam's group would create fabricated errors to appropriate the victims' assets. Police anticipate prosecuting about 550 sales employees involved in the scheme.

To date, approximately 5,315 billion VND in assets have been recovered. Police have received 669 complaints and recorded statements from 601 victims, who reported total losses exceeding 1,187 billion VND.

According to Hanoi Police, this represents Vietnam's largest foreign exchange and stock fraud syndicate. Many victims were drawn in by the perceived ostentatious wealth of Nam and Ngo, coupled with their own aspirations for quick riches, making them particularly vulnerable to the scheme.