Police in Haiphong have uncovered a large-scale cross-border gambling and money laundering operation that was run from luxury apartments in Hanoi, arresting 28 suspects and freezing more than VND 3 trillion (approximately USD 115 million) held in bank accounts.
On August 3, Haiphong City Police said their Investigation Police Agency had launched criminal proceedings for gambling, organising gambling and money laundering. Authorities also approved charges against 28 suspects and ordered their pre-trial detention.
Investigators said coordinated raids were carried out on May 20 at several apartments in the Vinhomes Ocean Park urban area in Gia Lam, Hanoi. Officers searched apartments in towers S.206, S.211, S.212, S.218 and S.219, while summoning Le Trung Hieu, born in 1997, Huang Lee Min, a Chinese national, and 14 other people suspected of organising and participating in illegal online gambling.
Chinese national Huang Lee Min, also known as Lao Huang, and Le Trung Hieu (Photo: Haiphong City Police).
The investigation found that the Chinese suspects had established a closed financial network in Vietnam to process money generated from online gambling operations.
Vietnamese citizens were allegedly recruited to open bank accounts in their names in exchange for monthly payments of about VND 5 million (approximately USD 190). The rented apartments served as operational centres, with staff working around the clock in three shifts to receive, classify and process gambling-related financial transactions.
Police said the entire operation was managed remotely through private groups on the Telegram messaging platform.
According to investigators, Le Trung Hieu was responsible for receiving funds generated by the gambling operation before rapidly converting them into the cryptocurrency USDT to conceal their illegal origin.
Acting on instructions from the network's organisers, Hieu allegedly contacted 27 USDT traders through Telegram, purchased large volumes of the cryptocurrency and transferred it to digital wallets controlled by the group's leaders, allowing the money to be moved out of the traditional banking system.
The investigation later identified Hoang Hai Van, born in 1984, from Hanoi, Chau Duc Lam, born in 1989, from Danang, and more than 20 other suspects as regular suppliers of USDT to Hieu.
Police described Hoang Hai Van as one of the largest over-the-counter USDT traders in Vietnam. Investigators said Van operated a professional trading network with dedicated teams responsible for pricing, debt management, payment coordination and customer relations.
According to police, Van used between four and five digital wallets each day to conduct transactions worth an estimated seven to 10 million USDT. The wallets were replaced every week in an apparent attempt to erase transaction records and complicate law enforcement efforts.
Investigators said the network operated with a high degree of sophistication. Members were assigned clearly defined roles and were provided with a question-and-answer manual instructing them on how to respond if questioned, summoned or investigated by authorities.
The Investigation Police Agency of Haiphong City Police remanded 28 suspects in custody (Photo: Haiphong City Police).
The investigation concluded that the organisation functioned as an underground financial enterprise, processing illicit funds linked to cross-border gambling and laundering criminal proceeds.
So far, investigators have seized more than 200 mobile phones and frozen more than 2,000 bank accounts across 36 banks, with combined balances exceeding VND 3 trillion (approximately USD 115 million). Among those charged, nine suspects face money laundering charges, while 17 have been charged with organising gambling.
Haiphong City Police said the investigation is continuing.