Director ran away with nearly 40 billion VND in scratch cards

After receiving a deposit of nearly 40 billion VND from partners buying phone cards, Bao closed the company and fled for many years.

The Department of Investigation Police on Economic Crimes and Corruption (PC46) of Ho Chi Minh City Police) on the night of December 12 arrested Tran Quoc Bao (29 years old, director of Southern Information Technology Telecommunication Services Company Limited) under a wanted order for the act of Abuse of trust to appropriate property.

Subject Tran Quoc Bao.

According to the investigation, Bao's company was established in June 2011 in Go Vap district but only operated at a low level. At the end of that year, the authorities inspected and discovered that the company had ceased operations and that director Bao was no longer at his residence.

Six people later accused Bao of depositing more than 38 billion VND to buy phone cards, but he fled without fulfilling the contract. In mid-2014, Bao was wanted for the crime of abuse of trust to appropriate property.

The police caught Bao while he was hiding in Da Nang.

According to VNE