HANOI: Vietnamese police stated that they had arrested 5 folks and busted a cash laundering ring that had introduced US$1.2 billion (S$1.6 billion) of prison cash into the nation from overseas.
Between 2022 and 2024, members of the community – which included financial institution workers – solid id playing cards and financial institution seals to start out 187 companies, opening greater than 600 company financial institution accounts.
The accounts have been used to switch and legalize cash obtained by way of fraud or playing overseas, police stated in an announcement on Wednesday (Jan 22), including that the entire transactions amounted to round $1.2 billion.
The arrests, together with a financial institution worker, have been made in Danang, the place police stated it was the largest cash laundering case ever uncovered within the central coastal metropolis.
Police seized 122 faux seals and unique copies of 40 enterprise registration certificates.
In October, Vietnamese actual property tycoon Truong My Lan was jailed for all times on cash laundering prices, though he’s interesting the decision.
The actual property developer had already been sentenced to dying for fraud totaling $27 billion in a separate case.
