General Director arrested for fraudulently selling a project and embezzling 1 billion VND.

On June 20th, information from the Investigation Police Department of Quang Ninh province indicated that they had issued a decision to initiate a criminal case, indict the suspect, and execute a temporary detention order against Mr. Nguyen Manh Hai, General Director of Thinh Phat Joint Stock Company, for the crime of fraud and appropriation of property, as stipulated in Clause 4, Article 174 of the Penal Code.

Nguyen Manh Hai is cooperating with the investigating agency.

Previously, on February 22nd, the Criminal Investigation Agency of Quang Ninh Provincial Police received and verified a criminal complaint from Mr. Pham Van Toan (44 years old, residing at No. 8, Thai Binh Street, Tan Binh Ward, Hai Duong City, Hai Duong Province) accusing Nguyen Manh Hai (54 years old) of fraud and appropriation of property through the signing of a contract for the transfer of land use rights for plot No. 09-LK06 in the housing project area 4B, Quang Hanh Ward, Cam Pha City (Quang Ninh).

Subsequently, the Investigation Police Department of Quang Ninh province investigated the case and determined that on August 9, 2019, the People's Committee of Quang Ninh province approved the investment plan for the construction and business of urban infrastructure in area 4B, Quang Hanh ward (Cam Pha city) through the auction of land use rights.

Upon learning that the People's Committee of Cam Pha City was preparing to auction off the land use rights for the project, Nguyen Manh Hai provided false information claiming that Thinh Phat Joint Stock Company, of which Hai was the General Director, had a project to build and operate urban infrastructure in area 4B, Quang Hanh Ward, Cam Pha City.

Subsequently, Hai sent the price list and project diagrams to Mr. Pham Van Toan and signed a land use rights transfer contract with him on June 5, 2022. Notably, the aforementioned project did not yet meet the conditions for commercial exploitation; moreover, Thinh Phat Joint Stock Company had no rights whatsoever to this project.

Using the above tactics, Nguyen Manh Hai defrauded and misappropriated 1 billion VND from Mr. Pham Van Toan. The Criminal Investigation Department of the Quang Ninh Provincial Police is expanding its investigation into the case.

Source: https://thanhnien.vn/bat-tong-giam-doc-lua-ban-du-an-chiem-doat-1-ti-dong-185240620204833335.htm

Source: https://www.vietnam.vn/bat-tong-giam-doc-lua-ban-du-an-chiem-doat-1-ti-dong/