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Vietnamese Police Bust up $21.8 Million Gambling Ring

Last week police in Vietnam conducted a gambling raid that saw 63 people arrested and disrupted an operation that had taken in more than $21.8 million in wagers.

The arrest saw 63 people arrested, with the ring offering online poker as well as sportsbetting wagers on soccer, tennis, and basketball matches. The ring was taking in the wagers and then sending the money to offshore bank accounts, which could hold the money without arousing suspicion. Those arrested include Cong Hung, who ran Dream Weavers Online Services JSC, which helped run the ring. Along with the arrests, various other pieces of evidence were taken into custody.

Vietnam has been working to clamp down on gambling, with numerous raids taking place in towns and villages throughout the country. The activity of gambling is largely considered illegal for Vietnamese citizens. The country is currently mulling the legalization of sportsbetting in an effort to divert some of the illegal proceeds that are being taken in by organized crime rings.

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sharpe's picture
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18 September 2016 - 3:55pm

Asia has always been the region where the issues with illegal gambling are huger and obviously Vietnam is on of the most affected countries.
I don't know obviously the problem is too huge and I doubt it could be decided just by legalizing of the sports betting but that could be a good start I guess.

Fortune HunterFortune Hunter
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18 September 2016 - 5:44pm

21.8 million is a quite big amount for an organization run by 63 people.This only makes me wonder how much more gangs there are.