Four Siblings Organized an Illegal Gambling Network Business with a Turnover of $3.8 Billion
In Ho Chi Minh City (Vietnam), the police uncovered a large criminal organization led by four siblings. They created an illegal crypto casino network, disguising it as a cryptocurrency investment program.
Over two years, they processed bets totaling $3.8 billion. The criminal scheme became a real sensation, attracting the attention of law enforcement and investors.
Network Organizers
The main suspects are four members of the Huynh family:
- Huynh Long Ngu (32 years old) – the alleged leader of the criminal group.
- Huynh Long Tu
- Huynh Long Bach
- Huynh Thi Ha Tai
Along with them, 34 individuals were arrested, charged with participating in the organization of illegal gambling. Some of the detainees are accused of being accomplices. Notably, one of the main organizers – 32-year-old Indian citizen Bhatia Mohit – remains at large.
How the Scheme Worked
The gambling network operated through two websites:
- Swiftonline.live
- Nagaclubs.com
These platforms were connected to international betting websites, such as Evolution.com.
On these sites, players could place bets using cryptocurrencies – USDT, ETH, and Naga tokens. Notably, a bet could only be placed after depositing at least 20 USDT (around $20). After registering, players could make bets and earn commissions by inviting other participants.
Multi-level Marketing Scheme
The organizers used a multi-level marketing model, attracting players with the promise of daily profits of 1-1.5%. Participants could earn by involving new players in the project. On the platform Nagaclubs.com, there was a VIP-level system, where players could progress depending on the number of people they invited and the amount of their bets.
To participate, players created accounts on the platforms, transferred funds in cryptocurrency through exchangers like Remitano or Binance, and then the funds were transferred to the platform’s electronic wallet and used for betting.
Criminal Activity and Its Consequences
According to the investigation, the scheme operated from 2020 and was closed at the end of 2021. In total, more than 25,000 participants registered on the platforms.
The gambling network generated huge profits for the organizers. For example, from the site Swiftonline.live, the organizers earned around $2.2 million, and from Nagaclubs.com – $2.5 million.
This money was used to buy real estate, cars, and other assets, and some of the funds were transferred abroad, which could indicate possible money laundering activities.
Investigation Outlook
Currently, law enforcement is continuing to search for other participants in the scheme and is taking active steps to curb further illegal activities. It is expected that charges will be brought not only against the organizers but also against other members of the criminal network who participated in organizing the gambling activities.