Authorities have temporarily seized 48 vehicles, including 41 cars and seven motorbikes, featuring brands such as BMW, Ferrari, Lamborghini URUS, Lexus, Rolls-Royce, Porsche and Jaguar. 

Many of these vehicles are owned by Pho Duc Nam and his younger brother Pho Duc Tu. The investigation agency said Tu held assets on behalf of Nam. As there is no record of Tu’s entry into the country, authorities have not been able to take his statement and therefore lack sufficient grounds for further action.

As for Pho Duc Nam and his girlfriend, suspect Nguyen Thanh Tam, investigators have confiscated numerous assets, including collections of watches, luxury handbags and expensive jewelry.

Specifically, authorities seized more than VND44 billion, over $1.7 million and other foreign currencies; 48 gold-coloured metal items (including jewelry, gemstones and car keys for Porsche 911, Porsche Taycan and Mini Cooper plated in gold and set with stones).

Investigators also confiscated 233 SJC gold bars, 280 gold-colored items labeled “12 zodiac animals” (1 tael each), and 28 wristwatches (including one Genuine Leather, five Patek Philippe, four Richard Mille and one Vacheron Constantin). In addition, 33 luxury handbags were seized, including two Burberry, two Dior, two Hermes, 13 Louis Vuitton and two Gucci brands.

On November 13, 2024, during an urgent search of Tam’s residence in Tan Binh District, HCMC, authorities seized one Subaru car and seven motorbikes. On December 6, 2024, another search at her residence in Ben Cau District, Tay Ninh Province, resulted in the seizure of 30 gold-colored metal items. 

The same day, a search at her apartment in Masteri Thao Dien, Thu Duc City, led to the confiscation of 31 wristwatches, including three Patek Philippe, two Richard Mille and four Vacheron Constantin brands.

Among 12 real estate assets that Pho Duc Nam had registered under other people’s names, two apartments worth more than VND266 billion are located in Hoan Kiem District, Hanoi. Nam purchased these apartments between 2021 and 2022. One apartment, valued at over VND145 billion, was registered under Pho Duc Tu’s name, while the other, worth nearly VND121 billion, was directly transacted by Nam. By 2024, both apartments were transferred for more than VND261 billion.

Asset dispersal

According to the investigation agency, in 2024, when Pho Duc Nam was arrested, fearing the seizure of assets, Nam's parents withdrew money and used it to buy gold and US dollars and brought them to relatives for safekeeping. Specifically, Pho Duc Thang (Pho Duc Nam's father) withdrew money and sent VND45 billion to a biological nephew, gave VND20 billion to a colleague, and gave VND20 billion to brothers-in-law.

Meanwhile, Mr. Pips' mother, Le Thi Lieu, withdrew money to ask relatives to buy 500,000 USD and 314 taels of SJC gold. Lieu put all the money and gold into backpacks and suitcases with coded locks and then left at biological nieces and nephews. Lieu also asked her biological mother to open two savings books worth VND15 billion.

On November 12, 2024, the investigative agency conducted an emergency search at the home of Le Thi Nhung (Lieu's niece), seizing 240 SJC gold pieces along with cash and foreign currency that Lieu had sent. 

On the same day, the investigative agency seized at the home of Pho Duc Tien (the nephew of Pho Duc Thang) 134 SJC gold pieces and VND12 billion sent by Thang and Lieu. Still on November 12, 2024, Hoang Thi Thuy (the niece of Pho Duc Thang) voluntarily handed over VND13 billion that Thang had asked her to keep.

On November 15, 2024, Nguyen Danh Tho (Thang's brother-in-law) voluntarily handed over VND20 billion, which was the amount Thang had asked him to keep. 

On November 19, 2024, Pho Duc Anh (Thang's nephew) voluntarily handed over more than VND2.4 billion sent by Pho Duc Nam's father. On June 3, 2025, the investigative agency decided to temporarily seize VND15 billion in 2 savings cards from Dau Thi Lan (Le Thi Lieu's mother) that Lieu had sent.

The investigative agency has recorded statements from the individuals asked to keep the money or store the backpacks containing gold and money. They testified that they did not know what assets were inside the suitcases and did not know those were assets derived from crime; therefore, there are no grounds to process these individuals.

T. Nhung