Trial opens for defendants in transnational money laundering ring
The Hanoi People’s Court on May 15 opened the first instance trial for 21 members of a transnational money laundering ring.
Among them, 14 were prosecuted by the municipal People's Procuracy for "fraudulent appropriation of property, and seven for "money laundering.” Many of them played important roles in the Jibian international crime ring.
Between September 27 and November 9, 2022, police arrested Mac Binh Hung and many others of the 777pay criminal group belonging to Jinbian Company headquartered in Cambodia.
The group provided bank accounts for fraudsters to instruct Nguyen Thi L, 39, residing in Cau Giay district, Hanoi, to transfer money for them, with transactions worth nearly VND20 billion (US$785,778) in total carried out from August 25-30, 2022. The woman reported the case to the Hanoi police after recognising that she had been deceived.
The police also found that Phan Van Minh, 46, in Ho Chi Minh City, laundered more than VND10 billion transferred by 777pay.
The trial is scheduled to last for five days.
