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Dismantling 3 illegal foreign exchange trading floors, embezzling nearly 500 billion VND

TH (according to VNA) December 21, 2024 20:50

Hanoi City Police have just dismantled and dismantled an entire criminal gang that lured victims to appropriate nearly 500 billion VND through illegal foreign exchange and securities investments.

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Topmax, RichSmart and GFS scam exchanges

Recently, Hanoi City Police have warned about the emergence of many foreign exchange trading floors, attracting many investors, with potential risks of fraud. The floors are introduced as projects with high interest rates, committed to paying profits to players, and sharing high commissions when attracting new investors. This is also an opportunity for scammers to "set traps".

Recently, the Department of Cyber ​​Security and High-Tech Crime Prevention and Control has coordinated with the Criminal Police Department of Hanoi City Police to destroy and dismantle an entire criminal gang that lured victims to appropriate nearly 500 billion VND through illegal foreign exchange and securities investment with sophisticated methods through 3 foreign exchange trading floors including: GFS Floor (access link: https://gfsmarkets.co); TOPMAX Floor (access link: https://topmax.com); RICHSMART Floor (access link: https://ricsmagroup.com) connected to the Meta Trader 4 and Meta Trader 5 applications, which are popular foreign exchange trading platforms in the world.

Under the guise of Master Group Trading and Investment Consulting Company Limited, the legal representative is Ho Bich Ngoc (born in 1996; residing in My Dinh 2, Nam Tu Liem, Hanoi) (headquarters: Nghia Do, Cau Giay, Hanoi). Although the company is not registered to operate in the financial - securities sector, the company still recruits employees to operate in the foreign exchange and derivative securities sectors.

Sales staff proactively sought out potential financial customers, mainly in large real estate, stock, and foreign exchange investment groups on social networks such as Facebook, Telegram, Zalo, etc., then approached and incorporated false information to introduce the macro financial market, foreign exchange trading, and derivative securities; introduced trading "experts" (who in fact had no financial knowledge) to guide, advise, and stimulate customers' desire to invest and make profits. From there, they lured and enticed customers to register accounts at the above-mentioned exchanges and transfer money to the exchanges to trade foreign exchange.

The subjects made unverified comments about the foreign exchange market, advising customers to place many orders with high risk levels. When customers suffered losses, the subjects would reinforce their spirit and confidence to continue investing money to recover capital and make profits, and so on until customers were no longer able to invest, the subjects would block communication and appropriate all the money that customers had transferred.

To prevent fraud, Hanoi City Police advise people to be vigilant and not to participate in investing or trading on illegal foreign exchange and securities exchanges. Especially those that advertise, promise high profits or attractive investment opportunities to appropriate victims' assets. If a case of fraud is discovered, people should immediately report it to the police to quickly verify, prevent and handle violators according to the law.

TH (according to VNA)
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Dismantling 3 illegal foreign exchange trading floors, embezzling nearly 500 billion VND