What did Ms. Chau Thi Thu Nga spend hundreds of billions of fraudulent money on?

Ms. Chau Thi Thu Nga stated that she spent about 47.5 billion VND to "run" the project... However, the people that Ms. Nga stated she gave money to all denied it.

According to the indictment of the Supreme People's Procuracy, the founder of Housing Group Company, Ms. Chau Thi Thu Nga (born in 1965, in Hanoi, former member of the 13th National Assembly), is the Chairman of the Board of Directors and General Director. In fact, this company is 100% owned by Ms. Nga. Other individuals were only asked by her to be listed as shareholders so that they could operate as a joint stock company, all activities of the company were decided by Ms. Nga.

Although she knew that the B5 Cau Dien project had not been approved by the competent authority and had not been granted a construction permit, and had not been allowed to mobilize capital, Ms. Nga was willing to spend more than 14 billion VND on advertising this project and organizing events.

Ms. Chau Thi Thu Nga

To create trust with customers who want to buy apartments at the B5 Cau Dien project, Ms. Nga directed the posting of false information on the company's electronic information portal.

In order for customers who come to the project site to see that Housing Group has started construction and will trust in contributing capital, Ms. Nga authorized the signing of a contract with Licogi 12 Joint Stock Company for this company to conduct testing and organize the boring of 59 foundation piles according to the unapproved adjusted B5 Cau Dien project design.

At the same time, Ms. Nga hired a model of 6 apartment buildings whose adjusted planning content had not been approved by competent authorities, including 2 buildings of about 33 floors and 4 buildings of 29 floors, located right in the middle of the lobby on the first floor of the Housing Group headquarters.

Ms. Nga also directed the real estate trading floor under her company to draft contracts with different names at different times such as deposit contracts, capital contribution contracts, loan agreements, and capital contribution agreements.

The main content of the contracts shows that Housing Group is the investor of the B5 Cau Dien project, mobilizing capital from individual investors who want to buy apartments.

The company collects from individual investors an initial amount equal to 30% of the transfer value of the selected apartment...

During the process of signing the contract and collecting money, if the customer requests to see documents, files, or planning drawings, the director or real estate transaction floor staff will show the customer the project files and project models located at the company headquarters.

Fraudulent money used for film cooperation

With all the sophisticated tricks mentioned above, from January 9, 2009 to July 30, 2013, Ms. Nga and the deputy directors authorized by her signed 752 capital mobilization contracts from 726 customers, collecting more than 377 billion VND and committing to transfer the right to use 752 apartments from the 2nd to the 33rd floors of the buildings at the B5 Cau Dien project.

Of the money collected, Ms. Nga paid more than 28 billion VND to 43 customers who withdrew capital; the remaining more than 348 billion VND was used by Ms. Nga for many different purposes.

Of which, Ms. Nga spent 8.2 billion VND to cooperate with Vietnam Feature Film Studio to produce the film Trai tim kieu huong; 430 million VND to cooperate with Vietnam Cinema Association Film Studio to produce the film Ao vong; 260 million VND for Thoi Dai Film Studio LLC to produce the comedy clip "Khon wien can't compete with the sky".

In addition, Ms. Nga also spent money to carry out some items at the B5 Cau Dien project and paid brokerage commissions; spent more than 3.2 billion on charity activities and other projects...

Notably, Ms. Nga stated that she spent about 47.5 billion VND to "run" the project and to run for the 13th National Assembly. However, the people to whom Ms. Nga stated that she gave money to help carry out the above tasks all denied it.

Up to now, all customers have requested to get back the money they paid to Housing Group, but this company and Ms. Nga are unable to pay.

According to Vietnamnet.vn