An online gambling ring worth over VND10 trillion ($431.47 million) was busted by police in central Da Nang City on Tuesday, leading to 11 arrests.
35-year-old Bui Manh Tri, the ring’s kingpin, cooperated with dealers outside of Vietnam to set up millions of U.S. dollars’ worth of soccer betting and online gambling accounts, Da Nang police said Tuesday.
These accounts were then divided and distributed to smaller agencies, then again distributed to gamblers.
Since May, the ring had made over VND6.2 trillion by exploiting currency exchange rates, among other methods. Police later determined the value of the ring at over VND10 trillion.
During the bust, police seized billions of dong in cash, cars, mobile phones, credit cards, guns and other evidence. Eleven people were arrested, with police continuing their search.
Gambling remains illegal in Vietnam outside its handful of casinos, and even there Vietnamese need to meet certain financial and other criteria to partake.
Gambling and organizing related gaming activities in Vietnam carry fines of VND10-50 million ($430-2,150) and jail terms of three to seven years.
Reported by Phan Anh, @Vnexpress
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Source: Vietnam Insider