Vietnamese National Charged Over Alleged $53 Million Crypto Money Laundering Network

Vietnamese national Trung Nguyen Van, 37, has been charged in the United States with two counts of money laundering over his alleged role in cryptocurrency investment fraud schemes that targeted U.S. victims.

The criminal complaint, filed in the Western District of Missouri and unsealed following Van’s initial appearance in federal court in Los Angeles, alleges that cryptocurrency wallets attributed to him received approximately $53.3 million in assets linked to wire fraud schemes between February 2018 and December 2024.

Prosecutors allege that approximately $53.19 million of those assets was subsequently transferred to other accounts outside the centralized blockchain network.

The investigation began with a victim who transferred approximately $16 million in cryptocurrency between June and August 2024 after believing the funds were being invested through a platform called Triangle.

Investigators traced a transfer of more than $569,000 made on August 7, 2024, to a cryptocurrency wallet attributed to Van. Two days later, the wallet allegedly received six additional transfers totalling approximately $569,569 that were also traceable to the victim.

Prosecutors allege that approximately $567,999 was then transferred in four transactions to a private, unhosted cryptocurrency wallet.

The investigation subsequently identified other U.S. victims who reported losing millions of dollars through separate cryptocurrency investment schemes. According to the complaint, the victims described similar circumstances in which individuals they had met online encouraged them to invest through cryptocurrency websites offering high returns.

The victims were ultimately unable to withdraw their funds and discovered that they had been defrauded.

Prosecutors allege that wallets attributed to Van received approximately $53,275,939 in cryptocurrency assets originating from wire fraud schemes targeting U.S. citizens between February 9, 2018, and December 17, 2024. The wallets allegedly transferred approximately $53,188,466 of those assets to other accounts.

The case concerns so-called “pig butchering” investment scams, in which fraudsters establish relationships with victims online before directing them towards fraudulent investment platforms. The U.S. authorities said the schemes can involve social media, messaging applications and dating platforms.

Van entered the United States through the San Ysidro border crossing on September 22, 2026, and was arrested at Los Angeles International Airport on September 24 before boarding a flight to Taiwan.

The FBI investigated the case. Van faces two money laundering charges, but the allegations contained in the criminal complaint have not been proven in court.

No conviction, sentence, forfeiture order or victim compensation has been reported in connection with the charges.

By fLEXI tEAM