Police in Ho Chi Minh City announced on November 8 the discovery of 14 foreign nationals residing illegally and suspected of using computers, mobile phones, and sophisticated scripts to perpetrate asset appropriation scams through a virtual stock exchange in Tan My Ward.
Previously, at 6:30 p.m. on November 4, the Immigration Management Division, in coordination with the Tan My Ward Police, conducted a surprise inspection of a house in the Everich 3 Residential Area and found 14 foreign nationals without temporary residence declarations, including 13 Chinese nationals and one Moroccan national.
The group was using 29 desktop computers, five laptops, 112 mobile phones, and Wi-Fi transmission equipment. Police found scripts and documents suspected of relating to cyber fraud and asset appropriation activities inside the house.
Earlier, through intelligence gathering, the police noted that this group led a secretive lifestyle with the house's glass windows constantly covered with opaque film. Only one person went outside each day to bring back food and daily necessities.
According to initial exploitation, the management group recruited Chinese individuals via social media, instructed and paid for them to enter illegally through minor border paths along the Vietnam-Cambodia and Vietnam-China borders, and then arranged transportation to bring them to the aforementioned house.
According to initial information, the suspects established a virtual stock exchange simulating a real one, using nearly identical web links to mislead victims. Employees were assigned lists and scripts, utilizing the WhatsApp application to approach and lure victims into investing.
When victims agreed, the suspects sent QR codes for bank accounts prepared by the management group for victims to transfer money. The management group subsequently adjusted virtual profits, enticed victims to invest further, and then appropriated the assets.
