What has Tan Hiep Phat done with real estate?

The Investigation Police Agency, Ministry of Public Security has just issued a decision to prosecute and temporarily detain Mr. Tran Qui Thanh - Chairman of Tan Hiep Phat Trading and Service Company Limited and Ms. Tran Uyen Phuong - Deputy General Director of Tan Hiep Phat; prosecuted Ms. Tran Ngoc Bich - Deputy General Director of Tan Hiep Phat. Ms. Phuong and Ms. Bich are both Mr. Thanh's biological daughters.

All three defendants are being investigated for the act of "Abuse of trust to appropriate property", related to the complaints about fraud and appropriation of property, which are real estate projects of particularly large value in Ho Chi Minh City and Dong Nai .

Once said "real estate is an interesting industry"

As a tycoon in the beverage industry, in 2018, Mr. Tran Qui Thanh surprised everyone with his position as Vice President of the Ho Chi Minh City Real Estate Club. Responding to the press at that time, Mr. Thanh said that everyone, every field, every profession is related to real estate. Real estate is also an interesting industry, especially in the period when the country is developing, the need to expand the city and expand business is very large.

Regarding the role of this industry in Tan Hiep Phat Group, Mr. Thanh affirmed that "it is an industry of special interest". At the same time, he emphasized that the group participated in real estate not because "it is on the rise, but because it feels that it is at the right point for itself and the opportunity is ripe to expand into other areas".

According to Mr. Thanh at that time, Tan Hiep Phat would use several thousand billion VND to invest in this field. Depending on the project, the company can invest capital, act as a project developer or cooperate in investment, the important thing is to have the opportunity. The Group will not prioritize any segment, as long as there is an opportunity to bring profit, it will participate.

On the afternoon of April 10, authorities arrived at Tan Hiep Phat Beverage Group ( Binh Duong ) to search the residence and workplace of Mr. Tran Qui Thanh - chairman of this group (Photo: Hai Long).

At the same time, the owner of a famous beverage group in Vietnam declared: "Saying that Tan Hiep Phat has no land fund seems a bit modest. The group currently has a few small land funds, with 4 factories alone having 160 hectares."

After that period, the media recorded that Tan Hiep Phat had established many enterprises with charter capital of about 20,000 billion VND to participate in the real estate sector. The group's land fund was recorded in several large provinces and cities such as Da Nang, Ho Chi Minh City, and Vung Tau.

Some auctions with Tan Hiep Phat and the reviews behind

In 2019-2020, Tan Hiep Phat and the group's leaders auctioned and won many land lots in Ba Ria - Vung Tau.

In December 2019, Tan Hiep Phat Group won the auction for the right to use nearly 8 hectares of land in An Hai, An Hoi, Con Dao district with an auction price of VND 537.33 billion (starting price VND 537.1 billion).

In 2020, Mr. Tran Qui Thanh won the auction of a nearly 2-hectare plot of land in Ward 10, right in the center of Vung Tau City, with an auction price of VND 394 billion, nearly VND 140 billion higher than the starting price. Ms. Tran Ngoc Bich also won the auction of two plots of land of nearly 3 hectares in Con Dao and Dat Do districts in February and March 2020.

The first land plot that Ms. Bich won the auction for is 9,994.8 square meters on Ben Dam Street, Con Dao District. This land is for non-agricultural production and business, i.e. commercial and service land. The State leases the land and pays a one-time fee for the entire lease term, through the form of auctioning land use rights.

The land lease term is 50 years, from the date of issuance of the decision recognizing the auction results. According to the construction planning, this land is planned as a resort and tourism service project; construction density is 25%; the building height is 3 floors, maximum height is 14m. Ms. Bich won the auction for the land with the price of 80.1 billion VND.

The second land plot with an area of 20,040.1m2 in Phuoc Hai town, Dat Do district was recognized as the winning auction in March 2020. It is commercial and service land. The State leases the land and pays the rent once for the entire lease term by auctioning land use rights. The land lease term is 50 years from the date the Provincial People's Committee issues a decision to recognize the auction results. The land plot is planned to be used to build a tourist area and a motel according to the approved detailed construction plan 1/500. The winning auction price is 170 billion VND.

After that, many times, agencies and departments issued instructions to review the auction results. In November 2020, Ba Ria - Vung Tau province assigned the provincial police to preside over and coordinate with the Department of Justice, the Department of Natural Resources and Environment, and relevant departments and branches to review and examine a number of issues related to the auction results of the land use rights of nearly 8 hectares in An Hai, An Hoi, Con Dao district (won by Tan Hiep Phat Group).

In October 2021, the People's Committee of Ba Ria - Vung Tau province said it had received a document from the Ministry of Public Security's Investigation Police Agency requesting documents related to two auctioned land plots in Con Dao district and Dat Do district (won by Ms. Bich). The province assigned the Department of Natural Resources and Environment to preside over and coordinate with the Department of Finance, Dat Do district People's Committee and Con Dao district People's Committee to review and provide documents as requested by the investigation agency.

Mr. Tran Qui Thanh and his two daughters Tran Uyen Phuong and Tran Ngoc Bich (Photo: IT).

Real estate litigation

Before being temporarily detained, Mr. Tran Qui Thanh and his son were also involved in accusations related to real estate. In October 2020, Mr. Le Van Lam - the legal representative of Kim Oanh Dong Nai Investment and Development Joint Stock Company - accused Mr. Tran Qui Thanh and his two daughters of abusing trust to appropriate assets, evading taxes, and extorting assets through transferring projects and business shares. The contracts signed between the two parties were fake contracts (the parties performed them to conceal another contract), essentially borrowing money. According to this accusation, Kim Oanh Dong Nai Company suffered a loss of more than 1,000 billion VND.

After that, the Investigation Police Agency sent a document requesting the People's Committee of Dong Nai province to direct relevant departments to maintain the legal status; temporarily suspend all property changes (purchase, sale, donation, mortgage of shares, land use rights, etc.) with Minh Thanh Dong Nai Company (under Kim Oanh Company) at the planned residential service area project in An Phuoc commune, Long Thanh district. This land was considered by Mr. Lam to be an asset that had been appropriated.

By March 2021, this case was prosecuted for the crime of Fraudulent Appropriation of Property. However, in November 2022, the Investigation Agency temporarily suspended the investigation of this criminal case of fraud and appropriation of property pending the results of the appraisal.

In another incident in November 2020, Mr. Nguyen Van Chung - General Director of DCB Surveying, Consulting, Designing and Construction Company Limited - filed a complaint accusing Ms. Tran Uyen Phuong, an individual and a notary office in Ho Chi Minh City of colluding to fraudulently appropriate 2 plots of land belonging to Mr. Chung in Ho Chi Minh City. Mr. Chung accused these individuals of using the trick of lending money and then forcing them to create fake transfer contracts and then turning the fake into real.

However, the police later determined that Mr. Chung had fabricated detailed drawings and signed deposit contracts to transfer several plots of land in Binh Tan District to sell to many people. This plot of land did not belong to Mr. Chung or DCB Company. The police determined that Mr. Chung had signed deposit contracts to transfer with 8 people, embezzling 16 billion VND. Therefore, Mr. Chung was prosecuted and temporarily detained for the crime of "Fraud".

(synthetic)

Source: https://dantri.com.vn/kinh-doanh/tan-hiep-phat-da-lam-gi-voi-mang-bat-dong-san-20230410231320637.htm