Interpol has arrested Vietnamese national Ngo Thi Theu, known as ‘Madam Ngo,’ in Bangkok. She was reportedly running a $300 million crypto scam that defrauded more than 2,600 victims. The arrest took place in a hotel in Bangkok’s Watthana district.
Ngo, 30, was found with two bodyguards, Ta Dinh Phuoc, 38, and Trong Khuyen Trong, 41. Both men were also arrested for visa violations. She was wanted under an Interpol Red Notice and a Vietnamese arrest warrant.
Tactics and Manipulation Authorities allege that Madam Ngo led a massive financial fraud network operating across Vietnam and Cambodia. The group lured investors by promising 20–30% monthly returns through fake cryptocurrency and forex trading platforms.
The scheme employed over 1,000 staff and operated out of 44 call centers. It used celebrities, influencers, and investment seminars to gain the trust of potential victims. According to investigators, funds collected from investors were laundered through real estate and mule accounts. Ngo reportedly withdrew large sums of money in Thailand to avoid detection.
Madam Ngo is currently in custody in Thailand and will be extradited to Vietnam. Thai and Vietnamese police collaborated on the arrest and are now working together to trace the stolen funds. Authorities are also investigating how the network moved money across borders and laundered it through legitimate-looking channels.
The arrest highlights the growing threat of crypto scams in the region. Experts say such frauds have become more sophisticated. The scammers are now using marketing tactics and large-scale operations to trap victims. The case serves as a warning about the risks of investing in unregulated crypto markets. Officials say more arrests could follow as the investigation continues.
Also Read:Crypto Scam Alert: How to Identify Fake Investment Platforms