Vietnamese authorities have busted what officials describe as one of the country’s largest cryptocurrency scams, arresting key suspects in a multi-billion dollar Ponzi-style scheme that allegedly defrauded thousands of investors both domestically and overseas.

The operation, centered around a fraudulent digital token known as Paynet Coin (PAYN), was dismantled by police in Phu Tho province in August 2025. Authorities charged at least 20 individuals, including the alleged ringleader, Nguyen Van Ha, a 45-year-old entrepreneur and founder linked to the Hahalolo platform.

According to reports from local state media, including Công an Nhân dân, the suspects operated an illegal multi-level marketing (MLM) network disguised as a legitimate cryptocurrency investment platform.

Victims were lured with promises of high returns through the Paynet Coin scheme, which authorities labeled as the biggest crypto fraud uncovered in Vietnam to date. The operation reportedly spanned multiple provinces and attracted investors from abroad.

Police seized evidence related to the scheme and charged the suspects with fraud and organizing illegal MLM activities. Estimates of the total scale have varied in reports, with some describing losses in the billions of dollars, though exact figures for victim losses and assets recovered have not been fully disclosed publicly.

This bust is part of a broader crackdown on cryptocurrency-related crimes in Vietnam, where digital asset trading has grown rapidly in recent years but has also attracted scammers exploiting regulatory gaps.

Other recent cases include arrests tied to platforms like ONUS and HanaGold for alleged price manipulation, as well as smaller scams involving fake exchanges and investment schemes totaling millions of dollars.

Vietnamese law enforcement has intensified efforts against online fraud, Ponzi schemes, and unlicensed crypto operations amid a surge in investor complaints. Officials have warned the public to exercise caution with high-yield crypto investments promising unrealistic returns.

The investigation remains ongoing, with authorities urging additional victims to come forward. This case highlights the risks in Vietnam’s booming but largely unregulated crypto market, where millions of citizens hold digital assets.

No further details on trial dates or additional arrests have been released as of the latest reports.

The Federal High Court on Tuesday adjourned the bail application of former Kaduna State Governor Nasir El-Rufai to March 31, 2026, after he was arraigned on only one of several charges alongside co-defendant Joel Adoga.

El-Rufai faced a 10-count charge filed by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) bordering on alleged conversion and possession of public property, money laundering, and related financial offences.

Court proceedings showed he was formally arraigned on a single count relating to deposits into a domiciliary account and the monetization of earnings.

No plea was taken on the remaining counts, and no bail was granted or even formally moved during Tuesday’s sitting. The case was adjourned to allow for further processes, including service of documents and consideration of pending applications before the same judge.

Defence counsel told the court that nothing untoward occurred during the proceedings and noted that the defence is yet to be fully served with processes in respect of other potential charges.

A separate case involving similar allegations has also been filed at the Kaduna State High Court, with its hearing date to be communicated later.

The arraignment drew tight security around the Federal High Court in Kaduna, with multiple security agencies present as El-Rufai appeared in person for the first time in the state since leaving office.

The matter remains ongoing, with the next date fixed for March 31, 2026, when the court is expected to hear the bail application and other pending motions.

A civil jury in Los Angeles County has found comedian Bill Cosby liable for drugging and sexually assaulting a woman more than five decades ago, ordering the 88-year-old entertainer to pay her $19.25 million in compensatory damages.

The verdict, reached Monday after a nearly two-week trial, concerns claims brought by Donna Motsinger, a former waitress who alleged that Cosby assaulted her in 1972.

According to the lawsuit, Motsinger was working at a restaurant in Sausalito, California, when Cosby visited. He later invited her to one of his comedy shows at the Circle Star Theater, where she says he gave her wine and a pill, causing her to lose consciousness.

She recalled flashes of light and later woke up at home naked except for her underwear, realizing she had been drugged and raped.Jurors determined that Cosby committed sexual battery and assault.

The award includes $17.5 million for Motsinger’s past mental trauma and $1.75 million for future suffering. Some reports indicate the jury also began considering additional punitive damages, which could significantly increase the total.

Cosby’s legal team has indicated it plans to appeal the decision.

The case marks the latest legal setback for the once-beloved star of The Cosby Show, who has faced dozens of sexual assault allegations from women dating back decades.

He served nearly three years in a Pennsylvania prison after a 2018 conviction for sexual assault, but that criminal conviction was overturned by an appeals court in 2021 on procedural grounds.

Cosby has consistently denied the accusations against him. This civil verdict comes amid a string of similar lawsuits. In 2022, another California jury found Cosby liable in a separate case involving a teenager at the Playboy Mansion and awarded $500,000 in damages.

Motsinger was previously identified as “Jane Doe No. 8” in an earlier civil action related to Cosby.

The judgment adds to the mounting financial and reputational consequences for the disgraced entertainer, who has seen his legacy as “America’s Dad” largely dismantled by the wave of allegations that surfaced publicly around 2014.