Vietnamese prosecutors will investigate several payment intermediaries, including 9Pay, as part of the Mr Pips fraud case.

It is said to be one of the country’s largest online investment scams.

Prosecutors outlined the move at the trial in Hanoi this week, as covered by Znews.

On 4 November, a representative of the Hanoi People’s Procuracy told the court that investigators could not fully examine some matters within the time limits.

This phase will look at the activities of payment intermediaries 9Pay, BigPay, ApotaPay, CPay and HTP.

It will also cover more than 1,400 other people in the network, to determine their roles and responsibilities.

Authorities have not charged any of the five payment firms in the case.

Prosecutors accuse 188 defendants of defrauding investors of nearly VND 1.6 trillion (about US$61 million) through fake stock and forex trading platforms.

They name Phó Đức Nam, a TikToker known as Mr Pips, as one of the ringleaders, alongside Lê Khắc Ngọ, known as Mr Hunter.

Prosecutors told the court the group pre-programmed the platforms, which never placed real trades on global markets.

In closing arguments carried by CafeF, they recommended life sentences for both men.

During questioning on 31 October, Nam testified that the platforms collected investors’ money mainly through payment gateways Ngân Lượng and 9Pay, along with other providers.

He questioned why the court was trying only one payment company owner.

That owner is Nguyễn Hòa Bình, known as Shark Bình, whose company operates Ngân Lượng.

Prosecutors accuse him of helping launder VND 319 billion (about US$12 million) for the network and have recommended a sentence of nine to ten years.

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