Police have seized assets worth VND5.2 trillion (US$205 million) tied to TikToker Pho Duc Nam, known as “Mr. Pips,” and his associates, who are accused of defrauding thousands of investors through illegal stock services. According to Hanoi police, this is Vietnam's largest-ever scam.
Among the confiscated items are 31 luxury cars, including Porsche, Jaguar, Mercedes, Lexus, Rolls-Royce, and others, valued at hundreds of billions of dong (VND100 billion = US$3.9 million).
Some are limited editions and unique in Vietnam, and are registered in the names of Nam and others related to him.
The most expensive vehicle in the fleet is a black Rolls-Royce Cullinan, which costs around VND45 billion ($1.8 million) in Vietnam after taxes and fees.
Another is a Mercedes G63, an SUV with a handcrafted engine capable of producing 577 horsepower.
A gold Lamborghini Urus, the only one in Vietnam, is part of the collection. The Urus is a super sport utility vehicle which combines the power of a sports car with the practical functions of an SUV.
A Nissan GT-R R35 Nismo Special Edition, one of only 300 produced, has also been impounded. It has a sticker price of over VND19 billion.
Another only one of its kind in the country, a Mazda Miata MX-5 2022, was imported from the U.S. The two-door, two-seat convertible sport car is recognizable for its retractable fastback technology, which allows the hard front roof to be stored in a storage area in the rear.
The blue Ferrari Roma was one of the first two imported into Vietnam in 2021 before the Italian automaker began to distribute it officially in the country. The car costs VND21 billion at dealers.
Nam also owns two Jaguar F-Type 2021 cars costing around VND6 billion each.
Next to them is a white Porsche Taycan Turbo S costing VND9.6 billion.
Another rarity in Vietnam, the Jaguar F-Type Convertible, costs VND4 billion.
The Porsche 911 Turbo S in the fleet was the fifth to be imported and the only red one. It costs around VND20 billion.
The other cars in police custody now include VinFast Lux A, Mercedes E200, Lexus RX350, Kia Carnival, some of which cost up to VND2 billion.
Luxury vehicles linked to TikTok investment consultant Pho Duc Nam, known as Mr. Pips. Photos and video by VnExpress/Huy Manh
