Nguyen Van Duong: The Mastermind Behind a Multi-Billion Dollar Gambling Ring
Nguyen Van Duong, a notorious figure in the world of scams, orchestrated a sophisticated gambling network worth billions of Vietnamese dong, cleverly evading detection. At the age of 48, Nguyen Van Duong served as the Chairman of the Board of Directors for High-Tech Security Investment Development Company Limited (CNC). Established in September 2011 with an initial charter capital of 20 billion Vietnamese dong, his company was responsible for providing intermediary payment services, including electronic wallet services, electronic payment gateways, and collection and disbursement services for a 10-year period.
Prior to this venture, Nguyen Van Duong held the position of Chairman of the Board of Directors at UDIC Investment Joint Stock Company. UDIC was previously a member of a joint venture involved in the construction project of a highway from Bac Giang to Lang Son. However, due to financial constraints, the Ministry of Transport announced the termination of the project contract with the joint venture, and Duong’s UDIC withdrew from the project.
Recently, Nguyen Van Duong became entangled in a fraudulent case related to the Rikvip online betting platform. Duong and Phan Sao Nam organized a massive online gambling network worth billions of Vietnamese dong. As a result, Nguyen Van Duong was obligated to pay a civil penalty of 1.655 trillion Vietnamese dong. However, nguyen van duong to date, the authorities have only managed to recover 315 billion dong.
During the investigation, authorities determined that Nguyen Van Duong was the mastermind behind the gambling network, which had been operational since 2014. This network quickly expanded to 13 provinces and municipalities nationwide, with 25 agents. The network’s operating server was located in Hanoi. Duong also owned a server located overseas, enabling both domestic and international gamblers to participate in the illicit activities. The number of participants grew rapidly, reaching millions of registered accounts, ultimately generating enormous profits for Duong by deceiving unsuspecting players.
Despite the Rikvip gambling network’s existence for a prolonged period without being dismantled, the provincial police in Phu Tho discovered signs of complicity from officials within their ranks. Investigative materials aided the authorities in identifying Nguyen Thanh Hoa, who played the role of the Director of the Criminal Police Department (C50), signing a contract related to Duong’s company’s operations. According to this contract, Phan Sao Nam, the former Chairman of the Board of Directors of VTC Online, would share 60% of the gambling network’s profits, while Duong would receive 40%. Under the contract, Hoa was entitled to approximately 20% of the proceeds generated by Duong. However, the authorities are currently conducting further investigations to clarify these details.
In the case of the multi-billion dollar gambling operation, Nguyen Van Duong played a crucial role. He still has three years left to serve in prison to complete his sentence and must also repay 1.7 trillion dong to mitigate the consequences caused by his actions. Within the billion-dollar gambling network, Nguyen Van Duong, alongside Phan Sao Nam, operated as the masterminds behind the Rikvip gaming company, profiting from 40% of the daily revenue generated by the gaming platform.