Currently, despite the Rikvip case concluding a long time ago, there is still considerable interest in the news of Nguyen Van Duong’s arrest. Nguyen Van Duong is one of the two main culprits, so the execution of the sentence has taken a considerable amount of time. Please read on to learn more about this individual.
Information about Nguyen Van Duong
Nguyen Van Duong was formerly the Chairman of the Board of Directors of UDIC Company and participated in the Bac Giang – Lang Son expressway project with the highest capital contribution of 491 billion Vietnamese dong. However, due to insufficient financial capability, the Ministry of Transport terminated the contract with this company. Subsequently, Duong established a high-tech security investment and development company – CNC, with an initial capital of 20 billion Vietnamese dong.
During the company’s operation, Duong met and became acquainted with Phan Sao Nam – the director of VTC Online Joint Stock Company and learned about Nam’s plans to develop the gaming portal. Duong is known as the mastermind behind the Rikvip case, with the total revenue generated from the operation of this gaming portal in the years prior amounting to nearly 1,700 billion Vietnamese dong.
Why was Nguyen Van Duong arrested?
Nguyen Van Duong is one of the two masterminds behind the widespread online gambling case through the Rikvip gaming portal in 2018. This gaming portal generated billions of dollars in revenue and operated in 13 provinces and cities in Vietnam. Nguyen Van Duong played a crucial role by jointly operating the Rikvip gaming portal with Phan Sao Nam, utilizing a game portal format and payments through an intermediary unit.
Furthermore, Nguyen Van Duong also served as the connection between Phan Sao Nam and the leaders within the Ministry of Public Security, namely Nguyen Thanh Hoa and Phan Van Vinh, to legitimize the gaming portal’s activities. At that time, Nguyen Van Duong was the chairman of CNC Company, which was considered a shield company managed by the Department of High-Tech Crime Prevention (C50), so Phan Sao Nam proposed cooperation to ensure the gaming portal could operate legally in Vietnam.
After collaborating with Nam, Duong instructed his subordinates to rent domain names and establish an online payment portal to allow players to deposit money and subsequently collect revenue. According to statistics up until the time of the arrest, the Rikvip gaming https://nguyenvanduong.net portal had generated over 10 trillion Vietnamese dong in revenue, with Duong personally profiting 1,700 billion Vietnamese dong.
