Contributing capital to buy shares, more than 500 people were scammed of 38 billion VND
Nguyen Thai Dien and Dao Nguyen Nghi called on more than 500 people to participate in buying shares, thereby defrauding and appropriating over 38 billion VND.
On November 17, the Economic Police Department - Da Nang City Police prosecuted and temporarily detained Nguyen Thai Dien (born 1984, residing in Hai Chau district) and Dao Nguyen Nghi (born 1982, residing in Lien Chieu district) for the crime of "Fraudulent appropriation of property".
According to the police, Dien and Nghi are not shareholders and do not own shares in the Central Warehouse Joint Stock Company. However, the two subjects took advantage of the legal status of this enterprise to solicit and call for investors to contribute money with the reason of increasing the charter capital for the company to go public.
Da Nang City Police prosecuted and temporarily detained Nguyen Thai Dien. Photo: CACC
The two subjects promised that the shares investors owned would increase in value over time and could be transferred, and when the company was listed on the stock exchange, they could make many times more profit.
Dien and Nghi also created the website “Fumart.vn” and the app “Fumart” to provide fake information, and used discount tricks to encourage investors to attract others to buy shares to transfer money to them.
The money received from investors was used by Dien and Nghi to pay commissions to the investors themselves; a part was used to organize events, promote communications and non-profit business activities to make the victims trust and continue to introduce and contribute money to buy shares.
Subject Dao Nguyen Nghi. Photo: CACC
Police determined that Dien and Nghi had called on more than 500 people to participate in buying shares, appropriating more than 38 billion VND. In addition, Dien and Nghi also colluded to use Nghi's worthless shares as collateral and appropriated 1 billion VND from a woman in Ngu Hanh Son district.
According to initial investigation information, Central Warehouse Joint Stock Company was established with a registered charter capital of 8 billion VND. On November 6, 2020, this company continued to change its business registration content and increased its charter capital to 200 billion VND, however, the founding shareholders did not contribute actual capital, and this company also had no assets.
The case is under further investigation.
