Scheme caused more than $2.6 million in losses for numerous financial institutions
The Alberta RCMP have charged three people for alleged participation in a fraudulent scheme involving the export of 43 international luxury vehicles valued at approximately $10 million.
The Alberta RCMP’s federal serious and organized crime section charged Duy Hung Nguyen, Thi Kim Hoang Quan and Quyen Hong Tran with the Criminal Code offences of fraud over $5,000, money laundering and trafficking in proceeds of crime. Duy Hung Nguyen and Thi Kim Hoang Quan also face charges of making forged documents and uttering forged documents. Duy Hung Nguyen additionally faces charges of causing forged documents to be used and uttering threats to cause death or bodily harm.
The findings of the investigation alleged that Nguyen had, through the participation of straw buyers and associates, bought and exported the vehicles from Canada to Vietnam, where the vehicles were resold. While the funds were filtered back to Nguyen in Canada, the financing connected with the vehicles defaulted.
The alleged fraudulent scheme resulted in losses to numerous financial institutions amounting to more than $2.6 million, as well as damage to the credit of the straw buyers, who had defaulted on their loans.
According to Constable Phil Pinon, those involved in the scheme not only experienced bankruptcy and financial ruin but also mental and emotional stress. “If you do not need to purchase a vehicle for yourself, do not purchase a vehicle at all,” said Pinon. “You will be held solely responsible for the payments and the effect it will have on your financial status.”
Various provincial and federal government organizations and agencies, as well as financial institutions, vehicle dealerships, vehicle crating companies and freight forwarding companies supported the investigation.
The three alleged perpetrators were arrested as follows: Duy Hung Nguyen in Burnaby, B.C. on June 9, Thi Kim Hoang Quan in Leduc County on June 11 and Quyen Hong Tran in Edmonton on June 9.
The RCMP, which suspects that Nguyen — using the aliases of Ken, Mike, Hung, Tomy and Ryan — has committed similar schemes in other Canadian jurisdictions, urges those with information to reach out via email to KSOCEdmonton@rcmp-grc.gc.ca.