At the trial of Phó Đức Nam, known as Mr Pips, and his associates, more than 900 investors were summoned as victims. Many described the distress they suffered after being persuaded to join foreign-exchange platforms and then losing their assets.
Thugs came to the investor's home
L.A., an investor from Hanoi, said every trading platform in the Mr Pips system was fraudulent and outside the international broker network. During two years of investing, she lost USD 138,000 in two nights.
She recorded a video showing that orders were placed automatically on her account even though she had placed none. A technical employee showed her how to place an order again, after which she withdrew part of the money.
To recover more than VND 1 billion, L.A. continued filing complaints. When she and other victims went to the company's Hanoi branch, security employees ran out and assaulted them.
The victim said Mr Hunter, Lê Khắc Ngọ, described as Mr Pips's right-hand man, sent 20 thugs to her home to intimidate her. Frightened, she fled abroad and incurred substantial expenses.
The indictment says Mr Pips established seven departments. Guards worked at each office, while security staff intimidated new employees and those who left so they would not disclose information about the company.
Victim collapsed after seeing a defendant
Another victim, N.L. from Phú Thọ, was contacted through Zalo at the beginning of December 2023 and persuaded to invest in international securities. She lost VND 2.7 billion.
A sales employee introduced N.L. to team leader Trịnh Trường Sơn. At trial, Sơn admitted calling her to support her and help her invest better.
Sơn said he told her that markets rise and fall, advised her to stay calm and seek technical support, and denied persuading her to invest more.
N.L. said Sơn's testimony was untrue and that he persuaded her to deposit another USD 150,000 to save the account. After the money disappeared, he said he was only a doctor.
"I cried and begged on the phone to get back even half of it, because otherwise my husband would leave and my children would have no home," N.L. said.
She said the defendants caused financial and emotional harm. On her first day at court, she recognized them as they were led into the courtroom and collapsed on the stairs.
Sources: Thanh Niên
