Prosecution of fraudsters who appropriated property through capital contribution to trade agricultural products
(Baonghean.vn) - Hoa invested in foreign exchange and participated in the task of closing online orders and suffered losses, losing billions of dong. To have money to pay off debts and invest in the hope of withdrawing capital, Hoa came up with the idea of taking advantage of the agricultural product trading to trick many people into contributing capital and then embezzling it.
The Criminal Police Department, Nghe An Provincial Police has issued a Decision to prosecute the case, prosecute the accused, and issue a Detention Order for a period of 04 months against Phan Thi Hoa for the crime of“Fraudulent appropriation of property”.
Previously, through grasping the situation, the Criminal Police Department, Nghe An Police discovered that Phan Thi Hoa (born in 1986), residing in Tua Chua town, Tua Chua district, Dien Bien province, had committed fraud and appropriated property of many victims by tricking them into contributing capital to trade agricultural products, thereby appropriating a total amount of tens of billions of VND.
According to the investigation, Phan Thi Hoa was born and raised in Yen Thanh district (Nghe An). She then worked, got married and lived in Tua Chua district, Dien Bien province. From the end of 2021 to January 2023, Hoa invested in foreign exchange and participated in the task of closing online orders, causing losses of billions of dong. In order to have money to pay off debts and invest in the hope of withdrawing capital, Hoa came up with the idea of taking advantage of the agricultural product trading to trick many people into contributing capital.
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| Subject Phan Thi Hoa. Photo: Hong Ngoc |
To gain the trust of the victims, Hoa informed the victims that they needed money to trade agricultural products in large quantities, each order selling several tons to dozens of tons, and promised to pay the investors a profit of 12-14%/month, allowing them to flexibly withdraw capital and profits when needed. Hoa used all the fraudulent money for personal expenses and used the money of later investors to pay interest to earlier investors. When he did not have money to pay the original capital to the victims, Hoa blocked contact with the investors and fled the area.
To date, the Criminal Police Department has received complaints from 9 victims reporting a total amount of money embezzled of more than 14 billion VND (most of Hoa's victims are high school classmates, brothers, relatives, and neighbors of Hoa in Yen Thanh district, Nghe An and Tua Chua district, Dien Bien).
After collecting sufficient documents and evidence, on March 20, 2023, the Criminal Police Department, Nghe An Police arrested Phan Thi Hoa for fraud and property appropriation.
At the investigation agency, Hoa admitted his crime.
Currently, the investigation agency is continuing to investigate, clarify the amount of money Hoa embezzled and expand the case.
The Criminal Police Department, Nghe An Provincial Police, informs anyone who is a victim in the Phan Thi Hoa case to contact the Criminal Police Department, Nghe An Provincial Police to report and resolve according to the provisions of law./.
