Female accountant embezzles billions of dong from electronics store by investing in cryptocurrencies and stocks.
Taking advantage of the trust of the electronics store owner, Hang committed fraud, embezzling over 1.6 billion VND. With the stolen money, the female accountant gambled on cryptocurrencies and invested in stocks.
On February 19th, the People's Court of Nghe An province held a first-instance trial to hear the case against defendant Cao Thi Thuy Hang (born in 1986), residing in Le Loi ward, Vinh City, for the crime of "Abuse of trust to misappropriate property"
According to the case file, in 2019, Cao Thi Thuy Hang was hired as a sales employee by the owner of HQ electronics store (located in Nghi Kim commune, Vinh City). Nearly three years later, Hang was given additional duties as an accountant by the store owner.
Hang's responsibilities include monitoring customer dealers in Ha Tinh province, entering sales data into the sales software, managing inventory sales, and verifying and reconciling payment obligations of dealers.
From March 2023 to July 2023, taking advantage of the trust of the electronics store owner and their infrequent checking and reconciliation of cash flow from sales transactions, they committed fraudulent acts.
Accordingly, Hang contacted 15 dealers in Ha Tinh, providing false information such as shop owners urging payment of outstanding debts; helping dealers extend payment terms; and offering discounts on purchases to request dealers transfer money for purchases and outstanding debts to her account, totaling over 1.9 billion VND.
To conceal her actions, Hang transferred over 270 million VND back into the store's account, while also using the names of the dealers in the transfer details and changing the transfer information.
Later, Hang resigned from her job. At this point, the store owner checked and discovered the employee's fraudulent behavior, so he filed a report with the police. The investigating agency determined that Cao Thi Thuy Hang had embezzled a total of over 1.6 billion VND from the HQ electronics store.
At the trial, the defendant admitted to the crime. The defendant stated that due to debts incurred from losses investing in cryptocurrencies and stocks online, he committed the act of defrauding the dealers of the electronics store where he worked.
Recognizing the wrongfulness of his actions, the defendant contacted his family to fully compensate the victim for the damages. The representative of the electronics store submitted a request for a reduced sentence for the defendant.
After a comprehensive review of the case, the panel of judges sentenced the defendant Cao Thi Thuy Hang to 9 years in prison for the crime of abusing trust to misappropriate property.
