Arresting FVP TRADE Quang Binh Office Head Swindling Investors almost 700,000 USD

FVPTrade is introduced a forex, metal, commodity, index, cryptocurrency exchange which has not been licensed in Vietnam. Up to now, this exchange has suspended withdrawals and frozen all accounts, deleting data in order to swindle investors' assets.

On August 7, the Investigation Police Department of Public Security of Bo Trach District (Quang Binh province) said that the unit had just issued a decision to prosecute the case, prosecute the accused, and take Nguyen Thi Le Nhi into custody ( born 1984, resident in Nam Lanh village, Quang Phu commune, Quang Trach district, Quang Binh province) on the act of committing fraud using computer networks, telecommunications networks, and electronic means

Previously, Bo Trach District Police collaborated with the Department of Cybersecurity and High-Tech Crime Prevention of Quang Binh Provincial Police to set up a project to investigate investing activities in forex broker FVP Trade (entrustment to invest virtual money) being considered against Vietnamese law and having the signs of committing fraud in Bo Trach Dist. area.

Accordingly, FVP Trade Forex office is located at 93 Hung Vuong (Hoan Lao town, Bo Trach district) headed by Nguyen Thi Le Nhi and 5 junior employees. This is an exchange that focuses on forex, metals, commodities, indices, cryptocurrencies but is not licensed in Vietnam.

Nguyen Thi Le Nhi and 5 subordinates are responsible for inviting, guiding and advising investors to open accounts, deposit money and then authorize FVP Trade's “experts” to invest in Forex. Investors are promised to benefit from 6%-10% / 1 month or more if investors invite more new participants.

Up to now, FVP Trade has suspended transactions, frozen all customers accounts, deposits and withdrawals are not available and all data has been deleted in order to swindle investors' assets.

During the investigation, the Project Board determined that the FVP Trade Forex system in Quang Binh had 225 accounts operating illegally, appropriating a total amount of 683,500 USD (equivalent to more than 16 billion VND) with over 60 participants.

Searching this office, the police team seized 3 laptops, 6 mobile phones, 6 notebooks, 99 cash receipts, 1 projector, 1 camera, 1 document related to the operation of FVP Trade in Quang Binh.

The project is currently under further investigation.