Four siblings have received up to 13 years in prison.
Vietnam.- A court has handed down prison terms to four siblings and nearly 40 accomplices involved in a online gambling and cryptocurrency operation valued at US$3.8bn. The defendants were convicted of organising and participating in the scheme between 2020 and 2021, using crypto-based platforms to attract tens of thousands of users.
The siblings were sentenced to between eight and 13 years, while other defendants received punishments ranging from suspended three-year terms to more than a decade in jail. Police are also seeking an Indian national believed to be the ringleader.
Authorities said the group used illicit profits to acquire luxury cars, real estate, and to launder money abroad. The operation relied on illegal crypto investment websites, where users could convert Vietnamese dong into tokens like USDT and Ethereum to gamble online. At its height, the network boasted around 25 million accounts and 20,000 active users.
Four siblings have received up to 13 years in prison. Vietnam.- A court has handed down prison terms to four siblings and nearly 40 accomplices involved in a online gambling…
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