Former chairman of credit union board arrested for fraud.
The police in Tra Vinh province have arrested two suspects, a former chairman of the board of directors and an employee of a credit fund, for fraud and misappropriation of assets.
On March 21, the Investigation Police Department of Tra Vinh province initiated criminal proceedings and temporarily detained Nhan Thanh Trung (42 years old) and Tang Van Vu (43 years old), both residing in Tra Cu district, for the crime of "Fraudulent appropriation of property".
According to initial investigations, in 2017, in his role as Chairman of the Board of Directors and Director of Dai An Credit Fund, Mr. Nhan Thanh Trung abused his position and assigned duties to monitor and obtain personal information and assets of customers transacting at the credit fund.
At that time, Mr. Trung was experiencing financial difficulties, so he asked Tang Vinh Quang, a credit officer, to obtain information from several customers to create six loan agreements, using their assets as collateral.
The suspect, Trung, is accused of forging the signatures of these individuals, signing documents, and creating trust to make the leaders and staff of Dai An Credit Fund believe that the borrowers were real, thereby approving and disbursing funds to embezzle the disbursed money. Trung is determined to have caused damage to Dai An Credit Fund exceeding 873 million VND.
As for the defendant Tang Van Vu, from 2015 to 2017, he was a credit officer at Dai An Credit Fund. Due to financial imbalances, defendant Vu took advantage of his position and assigned duties to obtain personal and asset information of 18 loan and deposit customers at the credit fund to create 46 credit contracts.
According to the police, the suspect Vu forged property mortgage contracts, directly falsified customer signatures on loan documents, creating trust among leaders and employees of Dai An credit fund to believe that the borrowers were real, leading to approval and disbursement of funds in order to embezzle the disbursed money, causing losses of more than 9.5 billion VND.
