Today (October 23), the Ho Chi Minh City Police Department announced that it is expanding the investigation into the case of "Fraudulent appropriation of property" occurring at Capel Group JSC (headquartered in Thu Duc City).

Previously, in January this year, the Investigation Police Agency initiated a case, prosecuted and temporarily detained La Quoc Truong - Chairman of the Board of Directors of Capel Group Corporation - for the above crime.

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La Quoc Truong at the time of prosecution and temporary detention. Photo: Provided by the police

Up to now, the authorities have clarified that because he needed money to spend, buy a house and a car, Truong carried out a large-scale fraud plan.

Taking advantage of the legal entity of Capel Group Corporation, Truong established branches in 5 provinces and cities and recruited a large number of employees, and organized seminars in many places. At these seminars, Truong "bragged" about the group, and at the same time called for cooperation with many investment packages, buying and selling stocks with high interest rates, attractive commissions...

To create trust, the Chief instructed his employees to take money from earlier participants to pay interest to later participants. In addition, the Chief appropriated money to settle debts, buy personal assets, and pay salaries and bonuses to employees.

Eventually, the Chief closed the company and a series of branches.

So far, the police have determined that Truong has appropriated about 700 billion VND from more than 4,800 people in 63 provinces and cities.

To serve the investigation expansion, the police requested those whose money was appropriated by Capel Group Corporation and Truong to come to Team 7, Economic Police Department - Ho Chi Minh City Police to meet investigator Le Huu Long (phone number 0918607007) to coordinate work, provide information and documents.

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