Former Minister of Industry and Trade and accomplices accused of causing losses of more than 2,713 billion VND

Mr. Hoang and his accomplices were prosecuted for "Violating regulations on management and use of State assets causing loss and waste"; Violating regulations on land management.

The case occurred at the Ministry of Industry and Trade and Ho Chi Minh City, related to the project to build a 6-star hotel, a shopping mall, a conference center, a seminar center and offices for rent on a 6,080 m2 land area.², at 2-4-6 Hai Ba Trung, District 1, HCMC.

According to the indictment, most of the defendants in the case are leaders in the industry, key officials of the Ministry of Industry and Trade and the Ho Chi Minh City People's Committee, with professional qualifications and knowledge in their fields of work.

The defendants were assigned to manage the Industry and Trade sector nationwide and manage and develop the socio-economy in the largest urban area in the country.

Mr. Vu Huy Hoang.

However, for different motives, the defendants committed very serious violations of the law, which took place over a long period of time; intentionally violated regulations on State asset management and violated regulations on land management.

From there, the management and use rights of the land plot 2-4-6 Hai Ba Trung (a State asset) were transferred to private property; causing especially large damage and loss to the State of more than 2,713 billion VND, causing social outrage and reducing people's trust.

The accusation is that the trick of using land use rights or other State property rights to contribute capital, enter into joint ventures, then divest (transfer capital) in a non-transparent manner, violating the provisions of the law by some subjects responsible for managing public assets, has caused especially large damage and loss of State assets.

Therefore, it is necessary to strictly handle the above-mentioned acts of Mr. Vu Huy Hoang and the defendants in the case, in order to deter, educate and prevent in general.

Causing a loss of more than 2,713 billion VND

The accusation is that from 2012 to 2016, Mr. Vu Huy Hoang directed his subordinates, specifically, directed Ms. Ho Thi Kim Thoa (former Deputy Minister of Industry and Trade) and Mr. Phan Chi Dung (former Director of the Department of Light Industry, Ministry of Industry and Trade) to issue documents directing officials at Sabeco to use the right to use the land at 2-4-6 Hai Ba Trung and Sabeco's money to contribute capital to private enterprises to establish Sabeco Pearl, to carry out real estate business projects.

After contributing capital and Sabeco completed the legal procedures for the project, Mr. Hoang did not direct Sabeco to implement the approved project, but directed Sabeco to divest all of Sabeco's capital contribution (capital transfer) at Sabeco Pearl to the private enterprise participating in the joint venture to complete the transfer of management and use rights of the 6,080 m2 land plot.²at 2-4-6 Hai Ba Trung is state property illegally transferred to private ownership.

The actions of Mr. Vu Huy Hoang and his accomplices at the Ministry of Industry and Trade violated regulations on State capital investment in enterprises and management and use of capital and assets at enterprises, causing damage and loss of more than VND 2,713 billion.

In this case, Ms. Ho Thi Kim Thoa and Mr. Phan Chi Dung were accused of being accomplices in assisting Mr. Vu Huy Hoang.

These two defendants directly signed documents or advised and proposed for Mr. Hoang and leaders of the Ministry of Industry and Trade to approve and sign documents approving the policy for Sabeco to carry out real estate projects, which are not its main business lines.

"Golden" land 2-4-6 Hai Ba Trung.

These two defendants also agreed to establish a joint stock company as the project investor and transfer the land to a joint stock company that is not a state-owned enterprise.

Ms. Thoa and Mr. Dung advised the leaders of the Ministry of Industry and Trade to direct Sabeco to divest all of Sabeco's capital contributions at Sabeco Pearl and illegally approve the share price as the starting price for auction lower than the actual value.

The actions of Mr. Dung and Ms. Thoa violated regulations on investing State capital in enterprises and managing and using capital and assets at enterprises, causing damage and losses of more than VND 2,713 billion.

Regarding civil liability, the Supreme People's Procuracy requested the court to annul illegal land allocation and lease decisions, and assign the Ho Chi Minh City People's Committee to recover the land at 2-4-6 Hai Ba Trung.