Police have dismantled a fraud ring, accused of defrauding thousands of people out of over 1,000 billion VND, after tracing a network that purchased personal data on Telegram, following 8 initial complaints totaling over 160 million VND in damages.
A group of suspects allegedly used images of Huan Hoa Hong to set up Facebook pages advertising loans, faking bank affiliations to collect fees, and are accused of defrauding over 4 billion dong.
La Quoc Truong admitted to using over 166 billion VND embezzled from investors to buy real estate, luxury vehicles, and shares to conceal the money trail, but currently lacks the ability to compensate.
