Having lost money in the stock market, a female bank employee defrauded and misappropriated company assets.
Having suffered losses from stock market investments and cryptocurrency trading, Tran Thi My Linh resorted to fraudulent tactics to swindle and embezzle nearly 880 million VND from a company.
The Nghe An Provincial People's Court recently held a first-instance trial to hear the case against defendant Tran Thi My Linh (born in 1992), residing in Truong Thi Ward, Vinh City, for the crime of "Fraudulent appropriation of property".
Tran Thi My Linh worked at a bank from 2017 to August 2022. Due to losses from online stock and cryptocurrency investments, Linh borrowed money from many people and was unable to repay her debts. As a result, Linh was sued by many people in court.
The total amount Linh has to pay according to the three court decisions is over 6 billion VND.
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During the enforcement process, Linh was unable to pay any amount, so on November 2, 2022, the Civil Enforcement Agency of Vinh City issued a decision to forcibly seize and confiscate the property, which is the right to use the land plot (area over 65 m²).2) in Truong Thi ward, and the attached property is a two-story house.
On the same day, the Vinh City Enforcement Department issued a notice to the Land Registration Office requesting that they not process any transfer, pledging, mortgaging, or assignment of this property. Simultaneously, the unit summoned Linh to the Department to receive the Decision on the forced seizure and confiscation of the property, but Linh cited family matters and did not appear.
On November 9, 2011, the Enforcement Department of Vinh City recorded the handover of the Decision on Asset Seizure and requested Linh to provide the land title certificate ("red book") as required, but Linh did not comply. The reason was that earlier, in early October 2022, Linh had mortgaged the land title certificate to HT88 Co., Ltd. to borrow 450 million VND.
Despite the fact that the property had been seized and confiscated by the authorities, from November 21st to December 1st, 2022, Linh deceived Mr. Nguyen Ba D. - Director of TH K Co., Ltd. - into going to HT88 Company to retrieve the land title deed that Linh was holding as collateral, and then mortgaged it to Mr. D. to borrow nearly 880 million VND.
Seeing that Linh was not repaying the debt on time, Mr. D. repeatedly called her to demand repayment or to complete the procedures for transferring the land title to the company, but Linh deliberately avoided him.
Mr. D. only found out he had been deceived; the property that Linh had mortgaged had been seized and sold at auction by the Enforcement Department of Vinh City to someone else. Therefore, Mr. D. filed a complaint against Linh for fraud with the police.
At the trial, the defendant admitted to the crime. The defendant confessed that due to debt and inability to repay it, he committed the fraud.
After a comprehensive review of the case, the panel of judges sentenced Tran Thi My Linh to 13 years in prison for "fraudulent appropriation of property".
