Vietnam Police Dismantle Illegal 'Meta Whale' Investment Scheme
Authorities in Phu Tho Province, Vietnam, have shut down a large-scale illegal multi-level investment scheme known as Meta Whale, which operated across several provinces and cities. The scheme attracted nearly 2,000 participants and involved transactions worth billions of dong (hundreds of thousands of USD).
On December 25, Phu Tho police announced that their Cybersecurity and High-Tech Crime Prevention Unit had uncovered and dismantled the Meta Whale operation after months of monitoring online activities.
On October 11, officers raided a promotional event in Ha Dong, Hanoi, where over 100 people were attending a Meta Whale “customer onboarding and guidance session.” The event was organized by Le Xuan Tham (36), Hoang Thi Thuy (42), and Nguyen Thi Huyen (47), all residents of Hanoi.
The suspects admitted they had been recruiting investors since early 2025 through an unauthorized multi-level marketing model. Their income came primarily from commissions for recruiting new members, not legitimate business activities. Investigations revealed nearly 2,000 investors had already joined, with billions of dong in transactions.
On October 29, police officially opened a criminal investigation. On December 17, arrest warrants and charges were issued against Tham, Thuy, and Huyen for violating regulations on multi-level marketing practices. The case remains under active investigation, with authorities working to identify additional suspects and victims.
In a recent case in Vietnam, police busted the fake crypto investment scheme “Kayple” and arrested ten suspects.
BrokersView Reminds You
Fraudulent schemes often disguise themselves as legitimate opportunities online but rely on recruitment rather than real business activity. Always check for regulatory approval before investing.
If you encounter similar schemes, promptly notify local authorities or financial regulators. You can also report suspicious activity to BrokersView for verification before making any investment decisions.
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