On April 2nd, the Ho Chi Minh City Police Investigation Agency (Criminal Police Department) announced that it had initiated criminal proceedings against three more suspects for the crime of "fraudulent appropriation of property" under Article 174 of the Penal Code, related to the Wedex cryptocurrency exchange.
The three defendants are: Le Van Ngoan (45 years old, Dong Nai), Nguyen Chi Cong (42 years old, Vinh Longing), and Nguyen Van Nguyen (39 years old, Ho Chi Minh City).
Previously, the investigating agency had initiated legal proceedings and temporarily detained four suspects who played a leading Vai in the same case.
According to the Ho Chi Minh City Police, the case was discovered based on complaints from many citizens about having their assets stolen after investing in cryptocurrencies on the Wedex exchange. Subsequently, the authorities established a special investigation team to look into the matter.
Initial findings indicate that the suspects used advanced technology to operate a disguised multi-level marketing scheme through the Wedex platform. This group established numerous online communities and organized seminars to promote their services and recruit participants.
Using these tactics, the defendants defrauded numerous victims nationwide of billions of dong.
The Ho Chi Minh City Police are currently expanding their investigation to clarify the roles of all involved individuals in order to handle the case according to regulations.
