Vietnamese crypto scammer Madam Ngo arrested in Bangkok
International manhunt ends as fugitive’s Bangkok hideout is exposed
A Vietnamese woman sought by Interpol for her involvement in cryptocurrency and forex investment scams that defrauded over 2,000 Vietnamese people of approximately US$300 million has been apprehended in Bangkok, alongside two bodyguards.
The Crime Suppression Division (CSD) police detained Ngo Thi Theu, known as Madam Ngo, a 30 year old woman, at a hotel in the Klong Tan Nuea area of Watthana district on May 23.
She was wanted under an Interpol Red Notice and an arrest warrant issued by Hanoi police on charges of misprision, or concealing a felony, as stated by the CSD commander, Police Major General Wittaya Sriprasertparb, yesterday, May 24.
Vietnamese officials report that Ngo Thi Theu played a significant role in a criminal network that deceived Vietnamese citizens into fraudulent investments through forex and cryptocurrency trading platforms.
Madam Ngo and her associates promised monthly returns of 20 to 30% to attract victims, employing celebrities or influencers to entice people into investing.
Victims were invited to seminars falsely promoting risk-free investments with quick returns. Those who recruited others were offered commission fees, similar to a pyramid scheme, according to the CSD commander.
Crypto scammer
Initially, victims were allowed to withdraw small profits to gain their trust. Once larger investments were made, the perpetrators became unreachable. Over 2,600 people fell victim to the scam, losing at least US$300 million in total.
Investigations uncovered that the operation was led by a Turkish national and involved 35 Vietnamese associates, with 44 offices across Vietnam, including Hanoi, Ho Chi Minh City, Da Nang, Hoi An, and other major cities.
The organisation employed over 1,000 staff and also expanded operations to Phnom Penh, Cambodia, according to Pol. Maj. Gen. Wittaya.
Vietnamese police later discovered that Theu had fled to Thailand and coordinated with Thai police to facilitate her arrest.
Two bodyguards of the Vietnamese suspect are also in custody.
CSD police and immigration officers tracked the suspect to a Bangkok hotel, where she was detained alongside two Vietnamese men, 38 year old Ta Dinh Phuoc and 41year old Trong Khuyen Trong, who served as her bodyguards. All were charged with overstaying their visas and subsequently taken to the Klong Tan Police Station.
During questioning, the Vietnamese woman admitted to promoting fraudulent investments. According to police, most of the swindled money went to the ringleader, while her share was laundered through real estate investments in Vietnam.
While in hiding in Thailand, she received funds via mule accounts in Vietnam, which were transferred to Vietnamese nationals in Thailand and withdrawn in cash, approximately 1 million baht (US$30,780) per transaction, to avoid detection., reported Bangkok Post
Theu is currently being held in police custody, awaiting extradition to Vietnam.
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