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Defendants Truong My Lan and Truong Hue Van |
On the afternoon of October 2, in Hanoi, the Ministry of Public Security conducted a press conference to disclose the outcomes of law enforcement activities during the third quarter, which included several prominent cases that had captured public attention.
Regarding the situation involving 42,000 investors who fell victim to the deceitful practices of the Van Thinh Phat Holdings Group Corporation (Van Thinh Phat Group) and the An Dong Investment Group Corporation, Major General Nguyen Van Thanh, Deputy Director of the Investigation Police Department for Corruption, Smuggling and Economic Crimes (C03, Ministry of Public Security), said investigative agencies had determined that from 2018 to 2020, the individuals associated with Van Thinh Phat, its subsidiaries, and several other entities had engaged in fraudulent activities and had violated the law in relation to bond issuances.
As a result of these fraudulent activities, the individuals involved in the Van Thinh Phat case deceived 42,000 investors, amassing a total of VND30 trillion (US$1.23 billion). Over this period, Van Thinh Phat Group, An Dong Investment Group Corporation, Quang Thuan Investment Corporation, Ho Chi Minh City Service Trading Corporation, Sunny World Investment & Development Corporation, along with other organizations, engaged in fraud and violated the law by creating 25 bond packages with a combined value of VND30 trillion, which they sold to buyers (bondholders), only to misappropriate the funds raised.
Due to the significant number of victims, C03 has entrusted local law enforcement agencies to work with investors who have purchased Van Thinh Phat's bonds. C03 strongly advises investors to promptly contact their local police authorities, providing essential information, documents, bond purchase contracts, or submitting applications for review and resolution to safeguard the rights and lawful interests of the investors.
In relation to the ongoing investigation into the Tan Hoang Minh Group case, Lieutenant General Nguyen Van Thanh has reported that, as of now, the funds fraudulently taken from over 6,000 investors by this group have been fully retrieved, amounting to over VND8.6 trillion (US$353.28 million). This sum of money ensures the enforcement of the court's judgment and the subsequent return of these funds to the affected investors. The sum of over VND8.6 trillion serves as crucial evidence in the case, and therefore, should the court find Tan Hoang Minh guilty of fraud, the victims can expect to receive their money afterward.
