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Vietnamese national not prosecuted over ‘underground bank’

TOKYO (TR) – Prosecutors have announced the non-prosecution of a Vietnamese national for operating what is considered an “underground bank,” which funneled money illegally from Japan to Vietnam, reports Kyodo News (Oct. 5).

In March of last year, Nguyen Xuan Thuan, a resident of Tokyo’s Itabashi Ward, allegedly sent 310,000 yen from two Vietnamese nationals residing in Japan to the bank accounts of their family members in Vietnam in exchange for a commission.

On Thursday, prosecutors from the Tokyo District Public Prosecutor’s Office announced the non-prosecution of Nguyen, who was accused of violating the Banking Act regarding unlicensed operations. No reason for the non-prosecution was given.

Nguyen Xuan Thuan
Nguyen Xuan Thuan (Twitter)

According to police, Nguyen is believed to have made 13,000 similar transactions in sending a total of 2 billion yen from Japan to Vietnam since January of 2016. The transactions were conducted using virtual currencies and other means.

At the time of his arrest, Nguyen declined to comment on the allegations.