Female tycoon defrauds bank of 23 billion VND.
A wealthy woman forged several documents to fraudulently obtain a loan of 23 billion VND from Lien Viet Post Commercial Bank and has now absconded.
On May 21st, the Ho Chi Minh City Police Investigation Agency announced that it is currently investigating the case of "Fraudulent appropriation of property"This occurred through the legal entity of Phat Dat General Production - Trading - Service One-Member Limited Company in Ho Chi Minh City."
To assist in the investigation, the Police Investigation Agency is issuing a search warrant for Ms. Nguyen Bach Van (56 years old, from Ba Ria - Vung Tau, residing in District 1, Ho Chi Minh City, former Director of Phat Dat General Production-Trade-Service One-Member Limited Company) for the crime of "Fraudulent appropriation of property".
According to initial investigations, Ms. Van allegedly forged planning confirmation documents from the Urban Management Department of the People's Committee of Vung Tau City, Ba Ria - Vung Tau Province, to inflate the value of collateral assets. Furthermore, she fabricated economic contracts between Phat Dat Company and other companies, using fictitious value-added tax invoices from these two companies to borrow nearly 23 billion VND from Lien Viet Post Commercial Bank, which she then misappropriated.
During the investigation, in early 2024, the Ho Chi Minh City Police Investigation Agency issued a decision to prosecute and an arrest warrant for Nguyen Bach Van. These decisions were approved by the Ho Chi Minh City People's Procuracy as per regulations, but Nguyen Bach Van fled from her residence and her whereabouts are unknown.
The investigating police agency has issued a notice to search for suspect Nguyen Bach Van in order to handle the case according to the law.
