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Police arrested 12 people and called for two more to turn themselves in, seizing 20 cellphones, five computers, two homemade guns and about VND1 billion in cash.
Preliminarily estimates value the ring at VND1.3 trillion.
All those arrested admitted to operating an online football gambling ring.
Authorities identified Nguyen The Hieu and Nguyen Thanh Trung as the gang's leaders.
In Vietnam, the crime of illegal gambling can carry with it up to ten years imprisonment, fines of up to VND100 million and asset seizures.
