Phó Đức Nam, known publicly as “Mr Pips”. — VNA/VNS Photo

HÀ NỘI — The Ministry of Public Security and Hà Nội police have released details of their investigation into a large-scale fraud case involving Phó Đức Nam, known publicly as “Mr Pips”.

At the ministry’s press conference on Monday, Lieut. Gen. Nguyễn Thanh Tùng, Director of the Hà Nội Department of Public Security, said that 44 individuals have been prosecuted in connection with the case. Of these, 38 face charges of “fraudulent appropriation of assets”, four are accused of “concealing assets derived from crime”, and one individual has been charged with “failing to report a crime”.

Hà Nội police, in coordination with Interpol Việt Nam and Interpol Thailand, arrested Ngô Thị Thêu – the wife of Lê Khắc Ngọ (alias “Mr Hunter”) – who had been in hiding in Thailand. Authorities have initiated extradition proceedings. In addition, police have arrested Nguyễn Thị Thủy, who had been appointed by Phó Đức Nam to serve as the group’s accountant.

The police have so far led to the seizure of significant assets, including numerous high-value properties and seven luxury vehicles. Authorities also identified 1.2 million SGD (about $939,239) held in a bank account in Singapore under Nam’s name. This sum has now been frozen in cooperation with Interpol Singapore.

The total value of recovered assets in the case has reached VNĐ5.31 trillion  ($203.24 million).

Lieut. Gen. Tùng described the case as a major fraud operation, involving nearly 1,100 people, including young adults, university students, and even schoolchildren. With 571 confirmed victims, the scale of the scheme is considerable. He urged any further victims to come forward and contact the authorities for assistance with asset recovery.

Also during the press conference, senior officials from the Department for Environmental Crime Prevention and Control (C05) addressed recent social media allegations that C.P. Việt Nam Cooperation had been selling meat from diseased pigs.

Colonel Nguyễn Công Khôi, Vice Director of C05, stated that on May 30, following the spread of the allegations online, C05 coordinated with police in the former provinces of Hậu Giang and Sóc Trăng to launch an investigation.

Based on the official reports, police found no evidence to support the allegations. In accordance with Clause 2, Article 157 of the Criminal Procedure Code, the investigative agency in Sóc Trăng decided not to initiate a criminal case.

It concluded there was no legal basis to assert that C.P. Việt Nam violated food safety laws in 2022 or 2023, as no unsafe food samples were recovered during inspections. The authorities have officially closed the case and issued a decision not to launch a criminal case for “violations of food safety regulations”.

C05 also stated it will continue to monitor online activity closely, in cooperation with local police, to determine the motive behind the spreading of the images. If unlawful actions are uncovered, those responsible will be dealt with in accordance with the law.

A representative from C05 also announced that 15 individuals have been charged with fraud in connection with the ongoing investigation into Bamboo Capital, a multi-sector firm. — VNS