The Federal Serious and Organized Crime (FSOC) section of the Royal Canadian Mounted Police (RCMP) in Alberta, Canada has charged three individuals in a multimillion-dollar luxury vehicle export scheme.
The convicts Duy Hung Nguyen, Quyen Hong Tran and Thi Kim Hoang Quan used the scheme to defraud several Canadians. The RCMP have charged them with fraud over $5,000, use of forged documents, money-laundering and trafficking in proceeds of crime, among other crimes.
Nguyen used several Straw Buyers and associates to illegally purchase 43 luxury vehicles and export them to Vietnam for resale. The money from the resale came back to Nguyen in Canada instead of the Straw Buyers. Ultimately, the loans on the vehicles defaulted and led to losses worth $2.6 million to numerous financial institutions.
