Nguyen Van Duong is known as the Chairman of CNC – a company established with a charter capital of 20 billion Vietnamese dong in September 2011. After 6 years of operation, the company was licensed to provide intermediary payment services, including three service groups: personal payment services, collection services within a 10-year period, electronic wallet services, and electronic payment gateway services.
Before being arrested in connection with the Rikvip multi-billion gambling case, Nguyen Van Duong also held the position of Chairman of the Board of Directors of UDIC Investment Company. The company was a member of the consortium of investors for the construction of the Bac Giang – Lang Son expressway.
Summary of the Rikvip multi-billion gambling case The Rikvip case, also known as the Tip Club case, was a gambling network involving intermediary payment contracts for the Tip Club and Rikvip online gaming portals. According to the conclusions of the investigating agencies, the total amount of money involved in this case was extremely large, estimated at 10 to 15 trillion Vietnamese dong.
Here is a summary of the case to understand why Nguyen Van Duong was arrested:
September 30, 2011: CNC Company – High-Tech Security https://nguyenvanduong.net Investment Development Limited Company – was established by Nguyen Van Duong.
October 10, 2011: Business cooperation memorandum of understanding between the C50 Department of the Ministry of Public Security and CNC, signed by Nguyen Thanh Hoa and Nguyen Van Duong. The contract specified that C50 would receive 20% of the profits while CNC would receive 80%.
2015: The Rikvip/Tip.club online gaming portal was launched by Nguyen Van Duong and Phan Sao Nam, attracting over 43,000 participants.
May 20, 2016: A letter requesting legitimate licensing for the Rikvip and 23zdo gaming portals for CNC was signed by Phan Van Vinh and submitted to the Ministry of Information and Communications.
March 11, 2018: Nguyen Thanh Hoa was arrested, prosecuted, and stripped of the title “People’s Public Security.”
April 5, 2018: Phan Van Vinh was arrested, prosecuted, and stripped of the title “People’s Public Security.”
April 9, 2018: Pham Quang Vinh – Business Director and Chau Nguyen Anh – Executive Director of VNPT Epay Electronic Payment Joint Stock Company were arrested and prosecuted for benefiting from the gambling network and being involved in providing online payment services.
August 31, 2018: Indictment of Phan Van Vinh, Nguyen Thanh Hoa, and 90 other defendants was completed by the Provincial People’s Procuracy of Phu Tho Province.
What crime was Nguyen Van Duong arrested for? Nguyen Van Duong was one of the two leaders of the gambling network through the Rikvip/Tip.club online gaming portal. So what crime was Nguyen Van Duong arrested for? According to the conclusions of the investigation, he was charged with two crimes: Money laundering and organizing gambling.
During his testimony in court, Nguyen Van Duong admitted to the charges brought against him and affirmed his respect for the indictment regarding the crimes of “Money laundering” and “Organizing gambling” by the Prosecutor’s Office. He also confirmed the amount of illicit profits he had received from the gambling organization according to the indictment. Additionally, he expressed his desire to remedy the consequences of the case.
Furthermore, Nguyen Van Duong requested that the trial panel and relevant authorities with jurisdiction help him recover the capital and assets he had invested in other companies to serve the process of addressing the consequences.
The total amount of illicit profits to be recovered from Nguyen Van Duong, according to the indictment, was over 1,655 billion Vietnamese dong. The indictment also specified that Nguyen Van Duong committed the crime of “Money laundering” by transferring over 329 billion Vietnamese dong to UDIC Company before transferring it to the Bac Giang – Lang Son BOT Company.
What was Nguyen Van Duong arrested for? How long was the prison sentence? Having known the crime for which Nguyen Van Duong was arrested, many people are curious about the duration of his prison sentence. Specifically, based on the appellate court’s conclusion, Nguyen Van Duong was sentenced to 10 years in prison for the charges of organizing and operating online gambling. Furthermore, he was ordered to pay nearly 1,700 billion Vietnamese dong to remedy the consequences. However, as of the present time, the General Department of Execution of Judgments has only recovered 315 billion Vietnamese dong of Nguyen Van Duong’s assets.
Currently, Nguyen Van Duong has served over 6 years of his sentence. According to the trial verdict, he still has over 3 years of imprisonment remaining to be served. However, after completing the prison sentence, he will still have to continue paying the amount to remedy the consequences as stated in the indictment by the Prosecutor’s Office.