Female defendant sentenced to 13 years in prison for defrauding investors in a sugar business.

On May 26th, the People's Court of An Giang province held a trial and sentenced the defendant Ngo Ngoc Thao (born in 1983, residing in Rach Gia ward, An Giang province) to 13 years in prison for the crime of fraud and appropriation of property.

Defendant Ngo Ngoc Thao at the trial.

According to the indictment, during the course of her sugar trading business, Thao became acquainted with Ms. TTD and Ms. NTNB. Around December 2023, needing money to pay off debts and for personal expenses, Thao lied, claiming that a customer needed to buy a large quantity of sugar but lacked capital. Thao persuaded Ms. D and Ms. B to invest in buying sugar to resell, promising to share profits ranging from 4,000 to 7,000 VND per sugar cane.

Trusting Thao's words, Ms. D and Ms. B repeatedly gave her money as investment capital. From December 2023 to January 2024, Thao embezzled 714.4 million VND from Ms. B and 268.6 million VND from Ms. D. The total amount the defendant embezzled from the two victims was 983 million VND. Afterwards, Thao lied about "being arrested" and then left the area.

On July 5, 2024, the two victims discovered the incident and filed a complaint with the Criminal Investigation Department of the An Giang Provincial Police. On December 6, 2024, Thao was charged and is under investigation.

During the investigation, Thao denied the fraud, claiming she only borrowed money for business purposes and to pay interest. However, based on the victim's testimony, the expert's conclusions, the verification results, and the documents in the case file, the prosecuting authorities determined that there was sufficient evidence to prove Thao's criminal conduct.

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Source: https://baoangiang.com.vn/lua-gop-von-kinh-doanh-duong-nu-bi-cao-lanh-13-nam-tu-a486875.html