Businesswoman Pham My Hanh arrested for raising over 1.2 trillion VND to cultivate "fake" Ngoc Linh ginseng.

On the morning of November 10th, the Cau Giay District Police ( Hanoi ) announced that they had issued a decision to initiate a criminal case, indict and temporarily detain Ms. Pham My Hanh (43 years old, residing in Trung Hoa Ward, Cau Giay District), Chairwoman of the Board of Directors of My Hanh Group Joint Stock Company, for the crime of fraud and appropriation of property, as stipulated in Article 174 of the Penal Code.

The police served the decisions and procedural orders to Ms. Pham My Hanh.

According to investigation documents, My Hanh Group Joint Stock Company was established on August 14, 2017. During its operation, Ms. Hanh provided false information about her company's investment project to cultivate Ngoc Linh ginseng in several provinces and cities, claiming it would generate high profits.

Using this scheme, Ms. Hanh raised capital from many people, totaling 1,264 billion VND. She then used a portion of the raised funds to pay interest to investors.

The Cau Giay District Police determined that the amount of money Ms. Hanh embezzled from investors was exceptionally large. On November 9th, the Cau Giay District Police served the decisions and procedural orders against Ms. Hanh. During the search of Ms. Hanh's residence and workplace, the police seized numerous documents and evidence related to the case.

Source link: https://thanhnien.vn/bat-doanh-nhan-pham-my-hanh-huy-dong-hon-1200-ti-dong-trong-sam-ngoc-linh-ao-185231110093249866.htm