Chairman of Tan Hoang Minh Group was arrested

On April 5, Mr. Dung, 61 years old, was detained by the Investigation Police Agency of the Ministry of Public Security.

Mr. Do Anh Dung, born in 1961, is currently the Chairman of the Board of Directors and General Director of Tan Hoang Minh Group, Chairman of the Board of Directors of Minh Viet Securities Investment Fund Management Joint Stock Company. Mr. Dung founded Tan Hoang Minh in 1993 in Ho Chi Minh City and started with the V20 taxi system. This brand then accounted for 20-25% market share of public passenger transport in Hanoi, Ho Chi Minh City and Nha Trang.

In 1998, Mr. Dung opened a factory producing bamboo and rattan handicrafts and this is considered one of the key sources of income when bringing in a profit of 3-5 million USD per year for Tan Hoang Minh in the first period. develop. Since 2006 until now, Tan Hoang Minh has invested in super luxury apartment projects in prime “golden land” areas of Hanoi.

Recently, Mr. Dung’s Tan Hoang Minh was involved in a number of incidents that caused a stir in public opinion. On December 10, 2021, Viet Star Real Estate Investment Company Limited (a member of Tan Hoang Minh) won the bid for land plots 3-12 in Thu Thiem for VND 24,500 billion, 8.3 times more. first price. Since then, the unit price per m2 of this land lot has been raised to VND 2.43 billion per m2, peaking in the Vietnamese market.

After winning the bid, Mr. Dung said he was surprised about the decision he made. However, he was worried that the most beautiful land in Thu Thiem would be in the hands of foreigners, so he “surged with national pride” to decide to bid 3% higher, equivalent to 700 billion VND, and win the right to win the bid.

Depositing 588.4 billion VND, Tan Hoang Minh signed a purchase and sale contract 7 days after the auction. On January 10, President Tan Hoang Minh suddenly asked to unilaterally terminate the contract of sale and auction of a land lot of VND 2.45 billion per m2 in Thu Thiem.

Mr. Dung then sent a letter to General Secretary Nguyen Phu Trong and leaders of the Party and State about asking for the deposit to be removed. Mr. Dung acknowledged that the auction result of more than VND 2.4 billion per m2 of land could lead to negative consequences for the market, so he would like to accept all sanctions for unilaterally terminating the contract. On January 28, Tan Hoang Minh officially dropped the deposit.

Pham Du