Hai directly agreed to buy real estate and then only paid the seller a portion of the money, then let relatives such as his biological mother, biological sister, wife, etc. stand in his name and then took it to the bank as collateral to borrow a large sum of money and then misappropriated it without paying back the loan.

On October 1, the Criminal Police Department of Can Tho City Police issued a Decision to prosecute and temporarily detain Vo Thanh Hai (37 years old), registered residence: 11/2E, Hoang Van Thu Street, An Cu Ward, Ninh Kieu District, Can Tho City, later changed many places of residence) for fraud and property appropriation with an amount of up to nearly 70 billion VND.

Previously, around May 2016, the Criminal Police Department of Can Tho City Police received a complaint from Ms. Nguyen Thi Hong Nhung (41 years old), residing in Cai Khe ward, Ninh Kieu district, Can Tho city) accusing Vo Thanh Hai of fraud and property appropriation.

Specifically, Hai bought a house from Ms. Nhung worth 1.5 billion VND but only paid over 1 billion VND, still owed over 450 million VND but did not pay, then let his relatives own the house and mortgaged it to the bank to borrow 2 billion VND and then appropriated it.

From the complaint of Ms. Nhung and many people, the verification process, the Criminal Police Department of Can Tho City Police initially determined: Hai had no job but wanted to have a lot of money, Hai committed fraud through the form of buying and selling houses.

To successfully carry out the fraud, Hai directly agreed to buy real estate and then only paid the seller a portion of the money, then let relatives such as his biological mother, biological sister, wife, etc. stand in his name and then took the property to the bank as collateral to borrow a large amount of money and then misappropriated it without paying back the loan.

From the time Hai committed the act of appropriation until he was prosecuted and arrested by the investigation agency, Hai had defrauded credit institutions, banks and people of a total amount of nearly 70 billion VND.

Can Tho City Police announced that anyone who is a victim of Vo Thanh Hai should quickly go to the Criminal Police Department of Can Tho City Police to report the incident.

The case is currently being further investigated by the Can Tho City Police Investigation Agency.

According to CAND