41 people have been prosecuted in connection with a real estate company that created "phantom projects" to commit fraud.
These individuals are accused of "fraudulent appropriation of property" under Article 174 of the Penal Code.
On June 11th, the Investigation Police Department of Dong Nai province issued a decision to prosecute 41 individuals as accomplices in connection with Loc Phuc Company (34 Tien Giang Street, Ward 2, Tan Binh District, Ho Chi Minh City).
These individuals are accused of "fraudulent appropriation of property" under Article 174 of the Penal Code.
Previously, in late August 2023, authorities caught Loc Phuc Company red-handed operating a virtual real estate trading floor in an empty plot of land in An Vien commune, Trang Bom district (Dong Nai province) to defraud customers and steal their assets.
At the scene, the police apprehended 186 individuals involved, including 143 individuals who were the General Director, company employees, and those hired to pose as customers, as well as 43 victims.
Simultaneously, authorities searched the company's headquarters, seizing numerous related files and documents. Through investigation, the police identified Huynh Huu Tuong (32 years old, residing in Ho Chi Minh City) as the mastermind and leader of the scam; therefore, he was arrested urgently.
According to the investigation, a plot of land worth only a few hundred million dong was falsely advertised by Loc Phuc Company as a project selling for 2-3 billion dong. After gathering customers from Ho Chi Minh City, the company would take them to view the "project land" in Dong Nai province. These "phantom projects" were presented as very attractive, such as being near highways, industrial zones, or Long Thanh airport. Loc Phuc Company used various tricks and schemes to force customers to make deposits, then seized their assets.
To evade responsibility, Tuong hired Nguyen Van An (27 years old, from Tay Ninh province) as the company's General Director. Every month, Loc Phuc Company defrauded people and illegally profited tens of billions of VND.
To date, the Dong Nai Provincial Police Investigation Agency has prosecuted 88 defendants related to the fraudulent activities of Loc Phuc Company. Simultaneously, they are urgently investigating and clarifying the criminal acts of each individual to handle the case according to the law.
