Fifty-nine Vietnamese nationals were arrested in the Golden Triangle area for running a huge scam that promised victims 24 percent daily returns by investing in a fake gold trading platform called ATFX.
The scam involved people investing small amounts and receiving some returns at first, which made them invest much more money — sometimes hundreds of millions to billions of Vietnamese dong (1 billion dong is about 38,200 US dollars).
Vietnamese and Lao police worked together to break up the scam ring on July 5. In total, 74 people were arrested, including 15 Chinese nationals. Police seized hundreds of mobile phones, computers, and other electronic devices used for fraud.
Lieutenant Colonel Nguyen Xuan Lam said it was very dangerous for officers to infiltrate the group because many suspects were based abroad.
One arrested suspect, Duong Van Huan, said the conditions were harsh. Those who didn’t meet work targets were beaten or electrocuted. Some managed to escape, but many suffered severe abuse.
The suspects were promised high-paying jobs and crossed borders illegally but ended up trapped in forced labor within the scam ring.
The Golden Triangle region — where Myanmar, Laos, and Thailand meet — is known for illegal drug production and weak law enforcement, making it a hotspot for such criminal activities.
On July 9, the suspects and evidence were taken back to Dien Bien Province in Vietnam. Police have charged three people as the masterminds of the scam with fraudulent appropriation of property.
