LOS ANGELES, September 26 — The man in the Los Angeles courtroom, a Vietnamese national, said little. What federal prosecutors in Missouri say he did speaks loudly enough: two counts of money laundering, tied to an international “pig butchering” operation that authorities describe as a rapidly growing, billion-dollar fraud industry targeting millions of Americans. Trung Nguyen Van, 37, made his initial court appearance in Los Angeles, the U.S. Attorney’s Office for the Western District of Missouri announced on Friday, Sept. 25.
The charges against him allege a role in laundering tens of millions of dollars stolen through cryptocurrency romance scams. The legal proceedings will continue in the Western District of Missouri, where the case is being prosecuted.
How the scam works, according to the affidavit
An unsealed affidavit lays out the mechanics. Scammers build trust with victims over dating sites, text messages or social apps, often cultivating a fake romance before steering them toward fraudulent crypto platforms. Investigators caution that the scammers typically display fake investment account dashboards showing huge artificial profits to coax victims into sending larger sums.
Once deposited, they say, the funds cannot be withdrawn. R.
Matthew Price, U.S. Attorney for the Western District of Missouri, said in the affidavit that pig butchering schemes are an increasingly prevalent and sophisticated form of fraud that have caused billions of dollars in losses to victims around the world. He added that his office worked alongside law enforcement partners in the Western District of Missouri and multiple jurisdictions to bring the case forward, and that fraudsters should know authorities will use every available resource to pursue those who target innocent victims.
FBI Kansas City Special Agent in Charge Chris Ormerod noted that federal and private-sector partners disrupted the operation to prevent further losses. The case, he said, demonstrates the FBI’s unwavering commitment to protecting the American public and holding fraudsters accountable, regardless of where they operate or where their crimes are committed.
What the announcement did not say
The announcement did not specify the exact amount allegedly laundered by Van or the number of victims involved. The investigation remains ongoing, and authorities have not released further details about potential additional charges or co-conspirators. The charges are allegations.
Van is presumed innocent unless proven guilty. The charges carry potential penalties including imprisonment and fines, though specific sentencing guidelines were not provided in the announcement.
The case underscores the challenges of combating international cryptocurrency fraud, which often involves actors in multiple countries and complex money laundering networks. The Western District of Missouri has previously brought cases involving cryptocurrency fraud and money laundering, and the FBI Kansas City Field Office has been actively involved in investigating such fraud and educating the public about the risks. The FBI has urged the public to be cautious of unsolicited investment advice and to verify the legitimacy of any investment platform before sending funds.
Anyone who believes they may have been a victim of a similar scam is encouraged to contact their local FBI office or file a complaint with the FBI’s Internet Crime Complaint Center. What to watch next: the case against Van moves to the Western District of Missouri, where prosecutors and the FBI say the investigation remains active.
Further developments are expected as the legal process unfolds.
