Mo. (KCTV) – Federal prosecutors have charged a Vietnamese national for his alleged role in laundering tens of millions of dollars stolen through cryptocurrency romance scams
The U.S. Attorney’s Office for the Western District of Missouri announced on Friday, Sept. 25, that Trung Nguyen Van, 37, faces two counts of money laundering following an initial court appearance in Los Angeles.
Federal authorities say Van was part of an international “pig butchering’ operation – a rapidly growing, billion-dollar fraud industry targeting millions of Americans.
In these schemes, authorities note that scammers build trust with victims over dating sites, text messages or social apps, often cultivating a fake romance before steering them toward fraudulent crypto platforms.
According to an unsealed affidavit:
- The Missouri Victim: Between June and August 2024, one victim lost around $16 million after being directed to invest in a bogus crypto platform called “Triangle.”
- Direct Traces: On Aug. 7, 2024, investigators traced a transfer of over $569,000 from the victim directly to Van’s digital wallet. Two days later, Van’s wallet received six more victim-linked transfers totaling another $569,000.
- Rapid Laundering: Moments after receiving the funds, Van allegedly moved nearly $568,000 in four separate transactions into private, unhosted wallets off centralized networks to evade detection.
- $53M Total Inflow: Between February 2018 and December 2024, Van’s crypto wallets took in roughly $53 million tied to wire fraud schemes targeting U.S. residents. Multiple victims across the country reported losing millions to identical ruses.
“Pig butchering schemes are an increasingly prevalent and sophisticated form of fraud that have caused billions of dollars in losses to victims around the world,” says R. Matthew Price, U.S. Attorney for the Western District of Missouri. “We are pleased to have worked alongside our law enforcement partners in the Western District of Missouri, as well as multiple jurisdictions, to bring this case forward. Fraudsters should know that we will use every available resource to pursue those who target innocent victims.”
FBI Kansas City Special Agent in Charge Chris Ormerod notes that federal and private-sector partners disrupted the operation to prevent further losses: “This case demonstrates the FBI’s unwavering commitment to protecting the American public and holding fraudsters accountable, regardless of where they operate or where their crimes are committed.”
Investigators caution that scammers typically display fake investment account dashboards showing huge artificial profits to coax victims into sending larger sums.
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Once deposited, they say the funds cannot be withdrawn.
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