SHB recovered collateral from morally-speaking securities giant Do Thanh Nhan, revealing a lot of real estate and luxury cars.

May 27, 2022 09:03 GMT+7

Saigon Commercial Joint Stock Bank (SHB) has just announced the seizure of collateral assets of Louis Rice Import-Export Joint Stock Company (formerly known as Louis Rice Company Limited) since May 19 to ensure debt recovery processing.

Notably, among the above-mentioned seized security assets, up to 6 properties including 3 luxury cars and 3 real estate were purchased by Mr. Do Thanh Nhan from October 2021 to January 2022. Coincidentally, this giant hit an unbelievable price and took profits for a series of stocks in the Louis Holdings ecosystem.

It is known that Louis Rice signed credit contracts with SHB Phu Nhuan on April 7, 2021. However, SHB decided to terminate the loan, early recover all debts from May 4, 2022 after Mr. Do Thanh Nhan, founder of Louis Holdings was prosecuted and detained since February 20. 4 to investigate the behavior of manipulating stock prices on the stock exchange.

Previously, on May 10, SHB sent a notice requesting Louis Rice to pay debts or hand over security assets for debt settlement and recovery. However, so far, the customer has not performed the debt payment obligation, the guarantee for this debt is Louis AMC Asset Management and Exploitation Company, Louis Trade Investment and Trading Joint Stock Company. Center, and Louis Holdings Joint Stock Company (three of the member companies of the Louis ecosystem) did not hand over the collateral at the request of SHB.

The image illustrates a popular convertible model Porsche 911 Targa 4S, with the current average selling price of about 9.17 billion VND.

Accordingly, SHB said that it would seize all collateral assets including: 2 7-seat Ford Everest cars, registered on 11/11/2011; 1 5-seat car with RAM 1,500 brand, registered on December 27, 2021, this is a luxury pickup truck with a selling price of about 5.5 billion VND; 1 4-seater car brand Porsche 911 Targa 4S, registered on October 12, 2021. This is a popular convertible model, with the current average selling price of about 9.17 billion VND; 1 Maybach 4-seater car Mercedes-Benz brand, registered on January 19, 2022. SHB did not specify which type of car, but according to the current market price, the Maybach S450 car costs about VND 7.5 billion, the Maybach S650 costs about VND 14.9 billion.

Thus, except for two Ford Everest cars registered in 2011, the value of the remaining 3 luxury cars ranges from 22 to 30 billion VND.

In addition to the above 5 cars, SHB also seized 4 other mortgages which are real estate, including: Land use right located at land plot number 289, map sheet 18, in My Xuyen ward, TP. Long Xuyen, An Giang province; land use rights and properties attached to land at plot 218, map sheet No. 4, ward 5, Tan An city, Long An province; 1 apartment apartment No. T4-A40.03 in Thao Dien ward, Thu Duc city, HCMC; and land use rights at land parcel number 61, map sheet 38, ward 5, Vung Tau city, Ba Ria Vung Tau province.

It is hypothesized whether a large part of the profits from Mr. Do Thanh Nhan’s stock trading will be converted to other assets in the form of real estate and luxury cars.

Ngan Giang