Victor Etoria was arrested while withdrawing the stolen money at a bank in HCMC’s District 7 last October, HCMC People's Court heard.

A few days prior to Etoria’s arrest, police in Binh Duong Province that borders HCMC had received reports that a local company trading wooden products had been hacked by an unknown party and may have had its money stolen, local media reported.

The Binh Duong company previously had a contract with U.S.-based firm JS International Inc, which produces wood and other crafting materials. The U.S. firm was supposed to have paid the Vietnamese company at the time, but no money had been received.

An investigation by the U.S. firm revealed the intended account to receive the $249,420 had been hacked and switched to a personal equivalent under the name of one Alm Inter in HCMC’s District 7.

Further investigation subsequently lead to the arrest of Etoria, who confessed to have cooperated with another unidentified accomplice to create multiple bank accounts to steal money from various businesses.

Etoria had stolen hundreds of thousands of dollars in Vietnam, police confirmed.