CNC Company: A Key Player In The Rikvip Online Gambling Scandal

CNC Company, officially known as High-Tech Security Technology Investment and Development Limited Liability Company (CNC), operates in the market as a payment and credit support service provider for users. Established in September 2011 with a registered capital of 20 billion VND, the company is predominantly controlled by Nguyen Van Duong, who serves as the Chairman of the Board of Directors. Duong holds a 98.46% stake in CNC, while the remaining shares are owned by Luu Thi Hong. With such a shareholding, Duong is the legal representative of CNC.

Regarding the relationship between Nguyen Van Duong and CNC, he not only serves as the Chairman of the Board but has also made CNC a crucial link in the Rikvip scandal. Duong exploited CNC, which was a subsidiary of C50, to commit criminal acts.

Specifically, Phan Van Vinh, the General Director of the General Police Department, issued a decision recognizing CNC as a subsidiary of C50. Vinh took advantage of the permission granted by the Ministry of Public Security to establish a subsidiary company, but the recognition of CNC as a subsidiary company lacked unanimity from the General Department III, Ministry of Public Security.

According to Vinh’s decision, C50 was supposed to contribute a 20% stake to CNC and have officials participating in the company’s management. However, this was not implemented. In 2016, Nguyen Van Duong proposed publicly disclosing the gambling game, and CNC obtained a license as an intermediary payment service provider from the State Bank of Vietnam in March 2017. From there, the gambling network expanded to a scale of over 9,000 billion VND.

Those involved in the case, acting on Nguyen Van Duong’s orders, engaged in activities such as renting domain names, registering brand messages, and building payment gateways connected to various financial companies, including HomeDirect, VNPT EPAY, Ngan Luong Company, and GTS Company. These activities were aimed at operating and reconciling the illicit revenue generated from gambling. The illicit amount collected by Nguyen Van Duong and CNC in the case exceeded 1,600 billion VND. In the operation of the Rikvip game portal alone, it was approximately 370 billion VND, while for the Tip.Club game portal, it was over 1,200 billion VND.

The Rikvip case was publicly revealed at the beginning of 2018, with Nguyen Van Duong and Phan Sao Nam as the two key leaders, along with several other important individuals, including leaders of law enforcement agencies. Following the final court decisions, the High-Tech Security Technology Investment and Development Limited Liability Company (CNC) had its operating license revoked. As a result, out of the previously existing 27 organizations providing intermediary payment services, there are now only 26 organizations that are not banks but have been licensed by the State Bank of Vietnam to engage in this activity.

The public’s interest in information about Nguyen Van Duong and CNC primarily stems from the multi-billion gambling scandal involving the Rikvip game portal. After the conclusion of this case, the information seems to be dwindling. However, people can still access Nguyen Van Duong’s website to stay updated on the latest news regarding the defendants related to the case at the present time.