To what extent will violations of regulations on property auction activities be prosecuted?

According to Article 218 of the 2017 Penal Code, the crime of violating regulations on property auction activities is stipulated as follows:

1. Anyone who commits one of the following acts, illegally profiting from VND 30,000,000 to under VND 200,000,000 or causing damage to another person from VND 50,000,000 to under VND 300,000,000, shall be subject to a fine of VND 20,000,000 to VND 200,000,000, non-custodial reform for up to 02 years or imprisonment from 03 months to 02 years:

a) Making a fake list of people registering to buy auctioned assets;

b) Creating fake documents or fake records to participate in property auction activities;

c) Colluding to lower or raise prices in property auction activities.

2. Committing a crime in one of the following cases shall be subject to a fine of from VND 200,000,000 to VND 1,000,000,000 or imprisonment from 01 year to 05 years:

a) Organized;

b) Illegal profits of VND 200,000,000 or more;

c) Causing damage to others of VND 300,000,000 or more;

d) Committing the crime 02 times or more;

d) Using sophisticated, cunning tricks.

3. The offender may also be fined from VND 10,000,000 to VND 50,000,000, banned from holding positions, practicing a profession or doing certain jobs from 01 to 05 years.

Thus, for the crime of violating regulations on property auction activities, the highest prison sentence is up to 05 years.

PL