Ministry of Public Security requests valuation of largest cattle breeding project in Ha Tinh

On April 9, the People's Committee of Ha Tinh province sent a document to departments, branches and localities to urgently carry out the task of valuing the existing fixed assets of Binh Ha Livestock Joint Stock Company at the request of the Investigation Police Agency (Ministry of Public Security).

Vice Chairman Dang Ngoc Son assigned the Council for Asset Valuation in Litigation to conduct the valuation in accordance with regulations, complete it on schedule and within the deadline; and regularly report the results to the Ministry of Public Security and provincial leaders.

Directors of the Departments of Finance, Industry and Trade, Transport, Construction, leaders of Cam Xuyen and Ky Anh districts... need to prioritize the implementation of valuation tasks, directly participate when requested; assign relevant individuals and units to closely coordinate with the Valuation Council, ensuring completion within the prescribed time.

In 2015, the People's Committee of Ha Tinh province approved the policy for Binh Ha Livestock Joint Stock Company to carry out a project to raise breeding and beef cattle on an area of ​​over 2,000 hectares in Cam Xuyen and Ky Anh districts. The total investment of the project is 4,223 billion VND, with a scale of 254,000 cows per year.

Since being granted an investment license, Binh Ha Company has built 65 barns, two administrative buildings, 19 warehouses and auxiliary works, and planted grass on an area of ​​678 hectares. After a period of raising cows, at the end of 2017, Binh Ha Company cleared grass and cleared land to plant bananas on an area of ​​200 hectares. Ha Tinh authorities assessed that the conversion to banana cultivation was against the regulations.

Since its inception, the project has only reached a scale of nearly 15,000 cows/year, and has sold about 43,000 cows after fattening. The amount of imported and raised cows has gradually decreased each year. By the end of March, there were no more breeding cows or beef cattle raised in the project, only 200 hectares of bananas in the harvest period.

For the past three months, due to business losses, about 150 workers of Binh Ha Company have been owed wages. With their assets sealed, many workers have asked the project leaders to allow them to cut down bananas and sell them for 7,000 VND per kg in lieu of wages.

In March, the Ministry of Public Security's Investigation Police Agency prosecuted and arrested Dinh Van Dung (former general director of Binh Ha Livestock Joint Stock Company) for the crime.Fraudulent appropriation of propertyandAbuse of trust to appropriate property, according to Articles 174 and 175 of the 2015 Penal Code; Tran Anh Quang (former General Director of Binh Ha Livestock Joint Stock Company) for the crime ofAbuse of trust to appropriate property; Thai Thanh Vinh (shareholder of Binh Ha Livestock Joint Stock Company) for the crimeAbuse of trust to appropriate property.

In late March, authorities also prosecuted Mr. Tran Duy Tung (34 years old, Chairman of the Board of Directors of An Phu Group Corporation) for the act of abusing trust to appropriate property, related to banking activities occurring at the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) and Binh Ha Livestock Joint Stock Company.

Mr. Tung is the son of Mr. Tran Bac Ha, who served for many years as Chairman of the Board of Directors of the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV). Mr. Ha was arrested in November 2018 for the crime ofViolation of regulations on banking activities and other activities related to banking activitiesg, according to Article 206 of the 2015 Penal Code.