Giant Ha Thanh created virtual securities, scammed hundreds of billions of dong

According to the allegation, through investment contracts of listed securities No. 15 and 16, Mr. Phan Huy Chi (former Chairman of the Board of Directors and CEO of SMES Securities Joint Stock Company) and Pham Minh Tuan (former General Director) appropriated of Vietnam Oil and Gas Insurance Corporation (PVI) more than 107 billion dong.

The investigation results determined that all securities signed by Mr. Chi and Tuan, confirmed and blocked under each contract appendix sent to PVI were not real and were virtual securities.

When the contract was due for contract 15.16, PVI had many documents requesting to fulfill the debt repayment obligation and requesting SMES to perform the obligation to sell the securities of cooperation and investment from customers, to deduct money from the sale. securities into PVI’s account according to the signed contract terms.

Due to the lack of money to pay PVI and in order for PVI not to detect fraudulent behavior to continue extending the repayment period, Mr. Phan Huy Chi on behalf of SMES signed many documents to PVI with false contents about SMES continues to strictly block the number of securities cooperating in contracts at customers’ securities trading accounts…

In fact, the customer is fake, not real. All securities used for investment cooperation with PVI are null securities.

Before the case was prosecuted, Mr. Chi paid PVI more than 65 billion VND.

According to the indictment, Mr. Pham Minh Tuan used many fraudulent tricks to create a customer named Bui Thi Thu Hien; created and confirmed fake securities codes and put them in the securities investment trust contract No. 95 with Habubank, appropriating 70 billion VND of this bank.

After that, to conceal the fraudulent behavior in contract number 95, Mr. Tuan and Nguyen Thanh Nam (former director of SMES Securities Joint Stock Company, Ho Chi Minh City branch) continued to commit fraud and signed a contract. contract number 36 for Habubank to trust to disburse 80 billion dong for Mr. Tuan to use more than 70 billion dong (principal and interest) to close contract number 95 on September 23, 2010.

Thus, Mr. Tuan approved two contracts to defraud Habubank’s assets of 80 billion VND, including 70 billion VND in contract number 95 and 10 billion VND in contract number 36.

The indictment determined that defendant Nam helped Mr. Tuan to appropriate 10 billion VND from Habubank in contract No. 36. Nam himself took possession of 7 billion VND.

The amount of 70 billion VND was returned to Habubank. Before being prosecuted, Mr. Tuan recovered more than 8.3 billion VND. The amount of more than 71 billion VND Mr. Tuan and his accomplices are jointly responsible for compensating Habubank.

Inconsistent testimony

According to the allegation, because Mr. Tuan knew that PVFI had about VND 200 billion in listed securities cooperation, he reported it to Mr. Phan Huy Chi and Mr. Chi agreed to raise capital through a securities cooperation contract.

Mr. Tuan then assigned the person to create a set of securities cooperation documents and import fake securities to make a cooperation contract for investment in listed securities between PVFI and SMES and 6 individuals to open securities trading accounts at SMES.

At the police station, Mr. Tuan said he borrowed the identity card of his sister-in-law, who was born deaf and mute, and signed her signature to open accounts at SMES and VPBank Dong Do branch. Mr. Tuan also signed his wife’s signature to buy 2 million shares in her name.

In this case, Mr. Chi did not admit that Mr. Tuan discussed creating fake securities. The securities investment cooperation contracts listed at PVFI are just a formality, in fact this unit lends money to SMES.

However, the indictment said that these are investment cooperation contracts in listed securities. Mr. Chi’s claim that these contracts are money-lending contracts is groundless.

According to the allegation, there are sufficient grounds to determine that Mr. Chi, Tuan and his accomplices have committed many fraudulent acts, created forged documents to sign 6 contracts to appropriate PVFI more than 111 billion VND.

Currently, there is a balance of more than 109 billion VND of principal and more than 32 billion VND of interest arising from 6 contracts as of July 31, 2012, which cannot be recovered.

T.Velvet