Investigate the case that the director of ACB’s transaction office was accused of appropriating nearly 5 billion VND

On March 19, a reporter’s source said that the Ho Chi Minh City Public Security Bureau is investigating the denunciation of Mr. TQT (born in 1993, Chairman of Master Racer Co., Ltd.) with Mr. Le Hung Cuong (as Director of the Master Racer Co., Ltd.) Director of Transaction Office Nguyen Huu Tho, Asia Commercial Joint Stock Bank (hereinafter referred to as ACB) committed the act of “abusing trust to appropriate property”.

According to Mr. T’s denunciation, in November 2021, Master Racer Co., Ltd. had a need to borrow money to supplement working capital for trading in computers and electronic components. Mr. T learns about loan procedures at ACB – Nguyen Huu Tho Transaction Office at 65 Phu Long residential area (Subdivision No. 8 Nguyen Huu Tho Street, Hamlet 5, Phuoc Kien Commune, Nha Be District, Ho Chi Minh City) .

After reviewing, ACB approved a loan for Master Racer Co., Ltd. At the same time, to secure the loan, Mr. T’s mother mortgaged the house at 129, Street 5, Trung Son residential area (hamlet 4, Binh Hung commune, Binh Chanh district). Master Racer Company was disbursed 3 times by the bank on November 19, 24 and 30, 2021 with an amount of VND 9.2 billion.

Out of the 3 contracts, there are 2 contracts to receive a debt of 7.2 billion VND signed by Ms. Ho Truc Quyen, Head of Science and Technology Department. The remaining contract with a debt of VND 2 billion signed by Mr. Cuong as the Director of the Transaction Office. In the first time, when the amount of 4.2 billion VND was disbursed, Master Racer Co., Ltd. received it in full. At the same time, Mr. Cuong approached Mr. T. and asked questions about borrowing money for the purpose of maturity of Mr. Cuong’s customers’ loans. Mr. Cuong also said that he borrowed for a short time (a few days) and would immediately pay an interest rate of 0.2%/day.

Mr. Le Hung Cuong (white shirt)

T. trusted him, so he transferred the amount of 5 billion VND to Mr. Cuong. After receiving the money, Mr. Cuong only paid once with the amount of 200 million VND to Mr. T., and 4.8 billion VND, Mr. Cuong promised many times but did not pay…

Through research, Mr. T knew that Mr. Cuong had taken a leave of absence and had not come to work since February 21, 2022. At the same time, Mr. Cuong was not at his place of residence… Realizing that Mr. Cuong showed signs of abusing his trust to appropriate his property, Mr. T. made a denunciation to the bank and the police.

On March 2, Mr. T and a representative of ACB had a meeting at ACB’s headquarters (442 Nguyen Thi Minh Khai Street, Ward 15, District 3) to discuss reports and denunciations… Mr. Cuong. Mr. T. expressed his wish that ACB would re-support the loan of 4.8 billion VND and the interest rate of this loan as soon as possible to avoid businesses, his family and himself falling into a dead end. property loss, bad debt.

ACB has received the denunciation information from customers and gathered it to transfer to the competent authorities for handling in accordance with the law.

On March 14, ACB’s side sent an official letter to Mr. T. In the official letter, it was clearly stated that “After reviewing the information, ACB realized that the loan relationship between Mr. Le Hung Cuong and the customer (ie Mr. T.) is a personal relationship, not within the jurisdiction of ACB”. ACB has forwarded the customer’s report, denunciation and handling request to the Ho Chi Minh City Police for consideration and handling in accordance with the law.

A representative of ACB said that this is a personal matter of Mr. Cuong and the case is being investigated by the police. At this point, Mr. Cuong is no longer the Director of Nguyen Huu Tho Transaction Office.

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