On the afternoon of November 22, the Ho Chi Minh City Police Investigation Agency announced that it had initiated a criminal case, indicted the suspect, and temporarily detained La Quoc Truong (Chairman of the Board of Directors and legal representative of Capel Company) for the crime of "Fraudulent appropriation of property".
Authorities read out the order to arrest and detain La Quoc Truong.
According to the investigating agency, in order to have money to buy houses, cars, and for personal expenses, La Quoc Truong conceived the idea of defrauding people by using the legal entity of Capel Group Joint Stock Company (abbreviated as Capel Company) to recruit employees and appoint them to high-ranking positions such as: Ms. Ha Thi Nga (General Director); Ms. Nguyen Ha Nhu Thuy (Accountant, Treasurer); Mr. Pham Hoang Nam (Assistant to the Chairman of the Board of Directors); hundreds of General Directors, Deputy General Directors, Directors, Deputy Directors, team leaders… and establishing five additional branches in Hanoi, Thanh Hoa, Bac Giang , Can Tho, and Nghe An provinces.
After establishing departments and branches, the Head organized many seminars in which he gave presentations, including one to introduce Capel Group Joint Stock Company and its business and investment situation.
After signing the contract, investors transferred money to Capel Company's account. The company only paid interest for a short period to gain trust, organized lavish events and seminars to promote and offer investment packages with incentives and high commission percentages. At the same time, they directly took employees and investors to view the locations mentioned, aiming to build trust and motivate employees, collaborators, and investors to seek and attract more capital and reinvest.
After the investors fell into the trap, Truong used money from later investors to pay earlier investors, settle loans, and cover personal expenses. Some time later, Truong closed the company's headquarters and fled, intending to embezzle the investors' money.
Through the investigation process, the Investigating Police Agency determined that from April 20, 2021 to April 18, 2022, La Quoc Truong signed a total of 7,959 "Business Cooperation Contracts," soliciting capital contributions from investors totaling over 702 billion VND.
Regarding the fraud case involving La Quoc Truong, to date, 300 customers have filed complaints with the Ho Chi Minh City Police Investigation Agency accusing Truong of "fraudulent appropriation of property".
Luong Y
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