Couple set up a company to raise capital, defrauded 155 billion VND
The couple called for capital with promises of high interest rates, enticing and defrauding many people to invest and embezzling more than 155 billion VND.
On November 15, the Investigation Police Agency of Cao Bang Province has just initiated a case, prosecuted the accused, and issued a 4-month temporary detention order against two subjects: Nong Van Au, born in 1986, Chairman of the Board of Directors of Lam Dai Phuc Group Joint Stock Company headquartered at 121 Nguyen Luong Bang, Hoa Thang Commune, Buon Ma Thuot City, Dak Lak Province, and his wife Nguyen Thi Vinh, born in 1991, Vice Chairman of the Board of Directors of Lam Dai Phuc Company (both have permanent residence in Village 4, Hoa Thang Commune, Buon Ma Thuot City, Dak Lak Province) for the act of "Fraudulent appropriation of property". The above procedural decisions have all been approved by the Provincial People's Procuracy.
Subjects Nguyen Thi Vinh and Nong Van Au.
Previously, the Criminal Police Department of Cao Bang Province Police received a complaint from a number of citizens in Cao Bang Province accusing Nong Van Au and Nguyen Thi Vinh of fraud and property appropriation. After conducting an investigation, it was determined that after its establishment, Lam Dai Phuc Group Joint Stock Company, with Au and Vinh as Chairman and Vice Chairman of the Board of Directors, had always been in a state of loss-making business.
Au and Vinh used tricks to open seminars and conferences to introduce and call for capital contributions to real estate investment projects and the construction of the company's factories in localities with promises of high and attractive interest rates, claiming to be a company with large charter capital and showing fake project documents to create trust and attract many people to participate in investing.
When the investors transferred money to Au and Vinh, both of them used the money for other personal purposes, did not fulfill their commitments in the contract and were unable to pay.
According to the investigation results, from 2019 to 2022, Au and Vinh attracted nearly 300 billion VND in investment capital into Lam Dai Phuc Company from investors across the country, of which Cao Bang province mobilized over 83 billion VND from many people. Initially, the investigation agency determined that Au and Vinh had appropriated over 155 billion VND and were unable to repay investors because the introduced projects were all fake.
