Criminal’s Story #2 – Trung Nguyen

Crime Type: Cryptocurrency Scammer / Money Laundering

Crime Country: USA

This is a true crime story from the actual criminal’s story as obtained from official and media sources, enhanced by the SCARS Institute Editorial Team. We utilized the SCARS Institute’s AI ‘Jane’ to dive deeper and delve into the minds of these criminals, scammers, and fraudsters, crafting their real stories to reveal their potential motivations and methods. Understanding these perpetrators helps us combat and disrupt crime/scams/fraud more effectively, empowering us with the insights needed to protect others.

WARNING: THIS SCAMMER’S OR CRIMINAL’S STORY MAY BE TRIGGERING TO SOME PEOPLE. DISCRETION IS ADVISED.

ADVERTENCIA: LA HISTORIA DE ESTA CRIMINAL O ESTAFADOR PUEDE SER INSENSIBLE PARA ALGUNAS PERSONAS. SE RECOMIENDA DISCRECIÓN.

If you need help, learn what you need to know now at www.ScamVictimsSupport.org

Si necesita ayuda, aprenda lo que necesita saber ahora en www.ScamVictimsSupport.org

A Criminal’s Story

I Turned Cash into Bitcoin for Criminals: My $1 Million Money Laundering Scheme

I’m Trung Nguyen, a 48-year-old man from Salem, Massachusetts, and I’m burning with a mix of defiance and regret as I confess how I ran an unlicensed money transmitting business, laundering over $1 million in cash into Bitcoin for scammers and drug dealers. I built a “no questions asked” operation that converted dirty money into digital currency, knowing full well I was helping criminals, but the lure of easy cash and the thrill of outsmarting the system kept me going until I landed in prison with a six-year sentence.

It all started back in 2017, a time when I saw a gap I could exploit in the growing world of cryptocurrency. I lived in a modest apartment in Salem, scraping by with my small vending machine business, National Vending, but I craved more, my mind always racing with ideas to make quick money. I had dabbled in Bitcoin for a while, fascinated by its anonymity, and I knew people out there needed to turn their cash into digital currency without leaving a trail. I set up my operation under the guise of National Vending, my cover story ready as I presented myself to banks and authorities as a legitimate vending machine operator, my smile polished as I hid the truth of my real business.

I ran my scheme with cold precision, my fingers typing out messages on encrypted apps as I connected with customers who needed to move money fast. I accepted cash from anyone willing to pay my fee, my hands steady as I took in stacks of bills, no questions asked about where the money came from. I converted the cash into Bitcoin, using technologies that made the transactions hard to trace, my mind sharp as I broke down large deposits into smaller amounts, spreading them across consecutive days or different bank branches to avoid suspicion. I enrolled in a paid course on concealing my business, my notebook filled with tips like creating a fake list of suppliers and never mentioning the word “Bitcoin,” my cover story growing more elaborate as I pretended to run a vending machine empire.

I targeted anyone with cash they needed to hide, my clients a mix of scammers and drug dealers who knew I wouldn’t ask questions. I took $250,000 in cash from a methamphetamine dealer in 2018, meeting him in parking lots and back alleys across Massachusetts, my car trunk stuffed with bills as I handed over Bitcoin in return. I also accepted $325,000 from a romance scam victim in Kansas City, Missouri, $60,000 from another in Hartford, Connecticut, and $60,000 from a third in Worcester, Massachusetts, my wallet growing fatter with each transaction as I converted their money into Bitcoin for the scammers overseas. I didn’t care who they were or who they hurt, my focus on the fees I earned, my mind justifying my actions as I told myself I was just a middleman, not the one committing the scams or selling the drugs.

I worked the scheme methodically, my operation humming as I moved money through my accounts, my fingers typing out Bitcoin wallet addresses to send the digital currency to my clients. I met customers in person, my Mercedes-Benz parked in quiet spots like a coffee shop in Somerville or a side street in Boston, my hands exchanging cash for Bitcoin in transactions ranging from $5,000 to $50,000. I kept a 7% or 8% commission for myself, my bank account swelling as I handed over the rest in cash or digital currency, my mind buzzing with the thrill of each deal. I used National Vending as a front, opening accounts in its name, my paperwork carefully crafted to make it look like a legitimate business, my lies to banks and cryptocurrency exchanges seamless as I kept the authorities in the dark.

I spent the money on myself, my greed taking over as I indulged in the life I had always wanted. I bought a new car, my sleek SUV parked proudly outside my apartment, a symbol of my success. I upgraded my wardrobe, my closet filled with designer clothes I wore to impress my clients, my confidence growing with each new purchase. I took trips to Las Vegas, my nights filled with gambling and fine dining, my wallet stuffed with cash I hadn’t earned honestly. I lived like I was untouchable, my mind racing with plans to expand my operation, to take on more clients, to make even more money, my ambition outweighing any fear of getting caught.

My motivation came from a place of resentment and hunger, a burning desire to escape the mediocrity I had lived with for so long. I grew up in a working-class family, always watching others live the life I wanted, my envy festering as I struggled to make ends meet. I saw Bitcoin as my ticket out, a way to make fast money without the rules that held others back, my mind convinced I was smarter than the system, smarter than the authorities who would never catch me. I felt powerful, my days filled with the rush of control, my clients’ dirty money a drug I couldn’t get enough of. I justified my actions, telling myself I wasn’t the one scamming or dealing drugs, that I was just providing a service, my greed outweighing any guilt as I convinced myself I deserved this life.

I kept the scheme going for years, my confidence growing with each new client, my accounts swelling as I moved over $1 million in cash into Bitcoin from 2017 to 2020. I accepted money from scammers who tricked vulnerable people, my hands taking their cash without hesitation, my mind refusing to dwell on the victims as I focused on my own gain. I worked with a drug dealer who sold methamphetamine, my meetings with him quick and discreet, my car parked in shadowy lots as I handed over Bitcoin, my fee secured before I drove away. I knew what I was doing was illegal, knew I should have registered National Vending as a money service business, but I ignored the regulations, my mind set on staying under the radar, my operation a well-oiled machine I thought would never break down.

I didn’t think about the long-term consequences, my mind too caught up in the immediate rewards, the rush of each successful transaction. I felt alive, my days filled with the thrill of deception, even as I knew deep down I was breaking the law. I imagined a future where I didn’t have to answer to anyone, where I could live the life I always wanted, my mind refusing to consider the fallout, the lives I was helping to destroy with every dollar I laundered.

I face the consequences now, my world collapsing as I sit in prison with a six-year sentence, my mind a storm of defiance and regret. I laundered over $1 million for scammers and drug dealers, people who hurt others for their own gain, and I helped them do it, my hands just as dirty as theirs. I targeted anyone with cash to clean, exploiting their need for anonymity, and now I sit here, my dreams of wealth replaced by the harsh reality of my actions, my freedom gone as I face the fallout of a crime I thought I could outrun. I wanted a better life, but all I found was a $1 million scheme that cost me everything, leaving me to face the consequences of a life I built on lies.

Source: https://www.justice.gov/usao-ma/pr/danvers-man-sentenced-six-years-prison-money-laundering-and-operating-unlicensed-money

Copyright © 2025 SCARS Institute

SCARS Institute Notes:

Legal Disclaimer: The above narrative represents an interpretation and extrapolation based on all available information about the case. Achieving 100% factual accuracy remains impossible due to the inclusion of supposition and fictionalization to create a complete story and monologue. We aim to present a coherent account of the criminal’s perspective solely for entertainment purposes. We derive no income from this endeavor, offering it purely in the public interest. The criminal did not participate in this process.

Fictionalized True Crime Disclaimer: This story offers a dramatized account inspired by real events, crafted to explore the criminal’s perspective for entertainment purposes. We base the narrative on publicly available information, supplemented with fictional elements to create a cohesive storyline, and do not claim complete factual accuracy. The characters, dialogue, and specific motivations reflect artistic interpretation and do not represent the actual thoughts or actions of the individuals involved. We intend this work to raise awareness about the dangers of financial fraud, and we derive no profit from its publication, presenting it solely in the public interest. The depicted individuals did not contribute to or endorse this narrative.