Da Nang prosecutes 20 defendants in inter-provincial money laundering ring worth 30,000 billion VND

The Investigation Police Agency serves decisions to prosecute cases and prosecute defendants. (Photo: Provided by the Police)

According to the investigation agency, this is the result of phase 2 of the secret project 1222T, which was expanded from January 2025. The investigation process determined that this criminal ring had money laundering activities with a total transaction value of up to 30,000 billion VND.

Under the strong direction of the City Police Director and the Head of the Investigation Police Agency, the Economic Police Department mobilized maximum forces during the peak period of crime suppression, coordinating with many professional units to focus on verifying, collecting documents and conducting the fight, clarifying the criminal acts of the subjects.

Notably, in this case, there was an active supporting role of bank employees in the criminal ring. Among the defendants prosecuted, there were 4 defendants who were employees of several banks, who colluded with criminals to open bank accounts for ghost businesses, which the subjects used for fraudulent and money laundering activities.

In addition, a subject who used the USDT cryptocurrency wallet to illegally receive money from Cambodia to Vietnam for a criminal gang to operate has been prosecuted for money laundering.

The Economic Police Department of Da Nang City Police has conducted legal proceedings, initiated criminal proceedings, and prosecuted 20 defendants for the crimes of: "Using computer networks, telecommunications networks, and electronic means to commit acts of property appropriation; money laundering; illegally buying and selling bank account information; forging seals and documents of agencies and organizations; using fake seals and documents of agencies and organizations" occurring in Da Nang and many related provinces and cities.

The Investigation Police Agency has frozen and seized many related assets, initially determining the value of about 50 billion VND to ensure the recovery of assets and compensation for damages in the case.

The case is under further investigation and processing.