More than 6,600 investors identified as victims in the Tan Hoang Minh case will be summoned by the Hanoi People's Court to the trial, which will take place on March 19.
It is expected that on the morning of March 19, the Hanoi People's Court will open the first instance trial of 15 defendants in the case that occurred at Tan Hoang Minh Hotel Service Trading Company Limited (Tan Hoang Minh Company).
In which, Chairman of Tan Hoang Minh - Do Anh Dung and defendants Do Hoang Viet (Deputy General Director of Tan Hoang Minh), Phung The Tinh (former Director of the Center for Finance and Accounting), Hoang Quyet Chien (acting Deputy Director of the Center for Finance and Accounting) and 11 other defendants appeared in court with the charge of Fraudulent appropriation of property.
The first instance trial was presided over by Judge Nguyen Xuan Van, with more than 20 lawyers participating in the defense. Among them, lawyer Giang Hong Thanh (Giang Thanh Law Firm) defended Tan Hoang Minh Chairman Do Anh Dung, and lawyer Nguyen Van Tu (FANCI Law Firm) defended Do Hoang Viet.
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Notably, up to 6,630 investors identified as victims of the case were also summoned to the trial. Before the trial, more than 1,200 investors submitted petitions requesting the Court and the Procuracy to consider reducing the criminal liability of the defendants. The reason is that all defendants have actively cooperated with the investigation agency, recovering the entire amount of bond buyers' money (more than 8,600 billion VND) to the State Treasury.
According to the indictment, due to financial difficulties, from June 2021 to March 2022, defendant Do Anh Dung agreed on the policy and through his son Do Hoang Viet directed and authorized the defendants under his authority to use the legal entities of 3 companies (Ngoi Sao Viet Real Estate Investment Limited Company, Soleil Hotel Investment and Services Joint Stock Company, Winter Palace Joint Stock Company) to issue 9 separate corporate bond packages with a total issuance value of VND 10,030 billion to raise money for Tan Hoang Minh Group.
In order to issue bonds, the defendants colluded in many fraudulent acts and tricks, legalizing conditions, issuance documents, offering procedures, and bond transactions such as falsifying business activities by signing legalized investment cooperation contracts, deposits, and stock sales... between companies in the group. The defendants colluded with the auditing unit, legalized the financial statements of the 3 issuing companies, and gave full acceptance opinions to meet the conditions for bond issuance.
In addition, the defendants also signed "fake" contracts to transfer bonds, running "fake" cash flows showing that Tan Hoang Minh Company paid for bonds and cash flows from 3 issuing companies according to investment cooperation contracts, creating "virtual" values for bond packages.
The Procuracy determined that the defendants used assets from the “fake” investment cooperation contracts as collateral for the bonds. The investigation results determined that more than 6,600 customers signed bond investment contracts and transfer contracts and had 8,600 billion VND appropriated by Tan Hoang Minh. During the investigation process so far, the investigating agency has recovered all the damages of the case.
The investigation team noted that Mr. Do Anh Dung and the defendants had many mitigating circumstances such as actively participating in charity activities; receiving many certificates of merit from central agencies; and Mr. Dung honestly confessed and actively overcame the consequences.
According to VOV
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