Dreaming of pouring huge capital, Hai Phong giants fell into the “trick trap” of the former Chairman of the Board of Directors

On June 7, the Hanoi People’s Court brought defendant Nguyen Hoang (SN 1975, former Chairman of the Board of Directors of Vinagroup Global Joint Stock Company) and Dinh Tien Dung (SN 1976, former Deputy Director of Vinagroup Global Joint Stock Company). to be tried for fraud and appropriation of property.

Allegedly, Mr. Hoang founded Vinagroup Global Company in 2016, but asked someone else to act as a legal representative. In essence, the defendant is the person who runs the company and signs accounting documents, tax returns, deals with tax authorities, banks and other administrative agencies.

Through social relations, Mr. Pham Quoc D. (SN 1969, in Hai Phong) knew Mr. Hoang and Mr. Dung.

The two defendants introduced themselves to Mr. being the representative of the Global Heritage Fund, chaired by Mr. Tetsuo Oytamada; The personal fund named after Mr. Tong Dinh Tho has a capital of up to billions of USD and is entrusted by this investment fund to invest capital in projects in Vietnam.

The defendants questioned Mr. established Vinagroup Hai Phong Joint Stock Company to bring foreign investment capital to Hai Phong. The establishment of a company to qualify for investment cooperation projects and receive capital from abroad.

On August 16, 2017, defendants Hoang and Dung signed an investment cooperation agreement with Mr. On August 25, 2017, Vinagroup Hai Phong Joint Stock Company was established, headquartered in Hai Phong. Mr. D. holds the position of director and legal representative, while Mr. Hoang is the Chairman of the Board of Directors, and Mr. Dung is a capital contributor.

Trap

In September 2017, the two defendants asked Mr. contribute capital to implement business investment cooperation contracts, assign Mr. looking for projects for the two defendants to arrange investment capital.

After searching for projects in Hai Phong, Mr. proposed to buy back Vipco Hai Phong Building and invest in the construction of Binh Bridge Park project, Hai Phong city.

Agreeing with the above plan, Mr. Hoang asked Mr. D. pay money to be disbursed investment capital for the above 2 projects.

Former Chairman of the Board of Directors of Vinagroup Global Joint Stock Company gave Mr. The document dated October 23, 2017 of the Global Heritage Fund shows that Mr. Hoang is allowed to use 50 million USD to invest in projects in Hai Phong, the account representative is Mr. Tong Dinh Tho. Due to trust, Mr. D. paid 250 million dong to defendants Hoang and Dung.

By November 2017, Mr. proposal to invest in Cau Binh park project. This project has an investment capital of 200 billion VND. At this time, defendants Hoang and Dung agreed to Vinagroup Hai Phong Company to cooperate with Nam Song Gam Joint Stock Company (the investor of the above project).

To be disbursed 10 million USD for the project, Vinagroup Hai Phong Company has to pay 500 million dong. Mr. D. paid defendants Hoang and Dung the above amount.

However, the defendants later did not comply with their commitments and Mr. investment capital is not poured as promised. The indictment determined that defendants Hoang and Dung appropriated Mr. 750 million and then fled.

The investigation results showed that the State Bank and Vietnam Securities Commission did not receive a written request or work to receive foreign financial sources to invest in Vietnam from the Global Heritage Fund.

In addition, the Global Heritage Fund does not invest in Vietnam, so it is not possible to verify that Mr. Tetsuo Oyamada is the Chairman of this fund.

It is known that the two defendants’ families have already returned the appropriated money to the victim, so Mr. did not ask for compensation and applied for a reduced sentence for the two defendants.

Today’s trial was adjourned due to the absence of an attorney.

T.Velvet