Ms. Pham Thi My Hanh, Chairwoman of My Hanh Group, before being prosecuted - Photo: My Hanh Group
The Hanoi People's Procuracy has issued an indictment prosecuting Pham Thi My Hanh (45 years old, residing in Yen Hoa ward, Hanoi), Chairman of My Hanh Group, for the crime of fraud and appropriation of property.
According to the indictment, My Hanh Group Joint Stock Company was established in 2017, operating in the field of exploiting, planting, and trading Ngoc Linh ginseng. Ms. Hanh then solicited and mobilized capital from investors through the signing of three types of contracts: share transfer contracts; loan contracts; and ginseng planting contracts.
At the time of fundraising, Ms. Hanh's company did not have a project to cultivate Ngoc Linh ginseng, nor had it signed any cooperation agreement with any business to carry out such a project.
However, between August 2020 and March 2023, Ms. Hanh provided false information and organized numerous seminars to introduce and promote the fact that My Hanh Company was implementing a project to cultivate Ngoc Linh ginseng in Kon Tum and Quang Nam provinces, claiming that the business was operating effectively and using profits to pay interest to investors.
Therefore, the company needed capital for its production and business operations. Ms. Hanh promised high profits and high interest rates depending on each customer contract, with interest rates ranging from 2-4% per month, equivalent to 24-48% per year. Interest would be paid monthly to investors until the contract expired.
After signing capital contribution contracts and receiving money from investors, Ms. Hanh used fraudulent methods, employing a portion of the received funds to sign sales and investment contracts with Win-Win Co., Ltd., Sam Sam Co., Ltd., and Tra My Agricultural Products Joint Stock Company, which were licensed to cultivate Ngoc Linh ginseng, but subsequently failed to fulfill the contracts.
The purpose of this is to build investor confidence that My Hanh Company has a genuine project.
Ms. Hanh used the remaining money to pay commissions to intermediaries, repay principal and interest to investors, and for personal purposes.
Using the above scheme, from August 2020 to March 2023, Ms. Hanh signed 3,623 contracts with 1,213 investors, collecting a total of 1,279 billion VND.
Ms. Hanh repaid the principal of 441 billion VND to 814 investors, paid interest of 164 billion VND to 1,053 investors, and also gave vouchers worth 34 billion VND.
Investigation documents to date have identified 2,346 contracts involving 1,093 investors that have yet to be settled, totaling over 850 billion VND.
Source: https://tuoitre.vn/chu-tich-tap-doan-my-hanh-ve-du-an-trong-sam-ngoc-linh-huy-dong-gan-1-300-ti-dong-20251214102458546.htm
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