Accordingly, the Tan Hoang Minh case will be brought to trial from March 19, 2024 with the estimated duration of 20 days.
The defendants in this case are Do Anh Dung (Chairman of the Board of Directors cum General Director of Tan Hoang Minh), Do Hoang Viet (son of Do Anh Dung and Deputy General Director of Tan Hoang Minh), Phung The Tinh (former Director of the Center for Finance – Accounting cum Director of the Finance – Accounting Department of Tan Hoang Minh), Hoang Quyet Chien (Acting Deputy Director of the Center for Finance – Accounting cum Director of the Finance – Accounting Department of Tan Hoang Minh), and 11 other people.
The above defendants are prosecuted for the crime of 'Fraudulence and Property Appropriation’.
In order to maintain the operation and trading activities of the company after encountering financial trouble as well as paying back the company’s debts, from June 2021 to March 2022, Do Anh Dung agreed with the plan and asked Do Hoang Viet to direct or authorize their accomplices to use the legal entities of three companies, namely Viet Star Real Estate Investment Co. Ltd., Soleil Investment and Hotel Services JSC., and Winter Palace JSC., to issue 9 individual corporate bond packages with a total value of VND10 trillion ($405.6 million) to raise money for Tan Hoang Minh.
The defendants used the assets of the fake investment contracts as the collateral for these bonds. With that created trust, they then use the legal entity and the brand name of Tan Hoang Minh to mobilize and appropriate VND8.6 trillion ($349 million) of more than 6,600 investors.
