FVP Trade News Update: The Head of the FVP Trade Representative Office has been arrested

About FVP Trade

FVP Trade is an online forex broker that recently caught our attention. In the previous articles, WikiFX has exposed the cases of FVP Trade freezing funds. As we know so far, it is a scam broker getting involved in a Ponzi Scheme. WikiFX has given this broker a low score of 1.8/10.

Latest News

FVP Trade Forex office is located at 93 Hung Vuong (Hoan Lao town, Bo Trach district) headed by Nguyen Thi Le Nhi and 5 junior employees. This is an exchange that focuses on forex, metals, commodities, indices, and cryptocurrencies but is not licensed in Vietnam.

FVP Trade's “experts” have been authorized by Nguyen Thi Le Nhi to invest in foreign currency and have been invited, guided, and advised investors to open accounts, deposit money, and then invest in foreign currency. Investing in more new participants is said to result in a 6%-10% return or more.

Since then, all FVP Trade transactions have been suspended, all customer accounts have been frozen, deposits and withdrawals have been frozen, and all data has been erased.

According to the Investigation Police Department of Public Security (Bo Trach District) on August 7, the unit has just decided to prosecute the case, prosecute the accused, and take Nguyen Thi Le Nhi into custody for committing fraud using computer networks, telecommunications networks, and electronic means (born 1984, resident of Nam Lanh village, Quang Phu commune, Quang Trach district, Quang Binh province).

As part of the collaboration between Bo Trach District Police and Quang Binh Provincial Police Department of Cybersecurity and High-Tech Crime Prevention, the investigation was previously conducted to determine whether investing activities in the forex broker FVP Trade (entrustment to invest virtual money) were illegal under Vietnamese law and evidenced fraud in Bo Trach District.

In Quang Binh, the Project Board found that 225 accounts were operating illegally for the FVP Trade Forex system, which appropriated 683,500 USD (equivalent to more than 16 billion VND) from more than 60 traders.

During the investigation, the police seized three laptops, six mobile phones, six notebooks, 99 cash receipts, a projector, one camera, and one document about FVP Trade.

The case is currently under further investigation. WikiFX will continue to track the case. Please stay tuned for more information.

If you want to know more information about FVP Trade, please read the following articles by clicking the links.

https://www.wikifx.com/en/newsdetail/202207195914426773.html

https://www.wikifx.com/en/newsdetail/202207195564692448.html

WikiFX keeps track of developments, providing instant updates on individual traders and helping investors avoid unscrupulous brokers. If you want to know whether a broker is safe or not, be sure to open WikiFXs official website (https://www.WikiFX.com/en) or download the WikiFX APP through this link (https://www.wikifx.com/en/download.html) to evaluate the safety and reliability of this broker!