Vietnamese woman wanted by Interpol for $300M crypto scam arrested in Bangkok

Crime Suppression Division (CSD) police apprehended Ngo Thi Theu, alias "Madam Ngo", 30, at a hotel in the Klong Tan Nuea area of Watthana district on Friday.

She was wanted under an Interpol Red Notice and an arrest warrant issued by Hanoi police for misprision, or the concealment of crime, CSD commander Pol Maj Gen Wittaya Sriprasertparb confirmed on Saturday, Bangkok Post reported.

Vietnamese authorities have identified Theu as a key player in a criminal network that lured victims into fraudulent investment schemes via cryptocurrency and foreign exchange trading platforms. The group promised high monthly returns of 20–30% and used celebrities and social media influencers to build credibility and attract investors.

Ngo Thi Theu was arrested in Bangkok on May 23, 2025. Photo courtesy of the police

The scam’s strategy involved hosting seminars and promoting what were claimed to be low-risk, high-return opportunities. Participants were encouraged to recruit others, receiving commission payments in a pyramid-like structure. Early investors were allowed to withdraw small profits to build trust, but communication with the scammers was blocked after larger sums were deposited, Khaosod reported.

Authorities estimate that more than 2,600 individuals were defrauded, with total losses exceeding US$300 million. Investigations revealed the operation was led by a Turkish national and included 35 Vietnamese accomplices. The organization reportedly employed over 1,000 staff members across more than 44 fraudulent call centers in Vietnam, including in Hanoi, Ho Chi Minh City, Da Nang, and Hoi An, as well as in Phnom Penh, Cambodia.

While in hiding, she continued to receive proceeds via mule accounts in Vietnam, which were transferred to Vietnamese nationals in Thailand and withdrawn in cash, often in amounts of around 1 million baht ($30,800) per transaction, to avoid detection.

Theu is currently in police custody pending extradition to Vietnam.