The fate of the huge fortune of Mr. Tran Bac Ha's family

The investigation concluded that Mr. Tran Bac Ha, during his tenure as Chairman of BIDV's Board of Directors from 2008 until his retirement in September 2016, violated the principle of democratic centralism and working regulations, and showed signs of imposition and lack of democracy in direction and management.

Mr. Ha is accused of using BIDV's name to directly carry out investment promotion activities in Ha Tinh for backyard companies; directing and approving credit granting with preferential conditions, contrary to regulations, for these companies.

When the backyard companies were approved for loans and received disbursements, Mr. Ha appropriated them for personal use and contributed capital, or used the loan capital for the wrong purposes, leading to the project continuously losing money and having to stop operations.

Mr. Tran Bac Ha's actions caused losses to BIDV of more than 1,548 billion VND.

Due to illness, Mr. Ha died in detention. His son, Tran Duy Tung, was prosecuted for abuse of trust and appropriation of property. He is currently on the run and wanted.

Seized assets

To ensure the complete recovery of assets for the State and to ensure the legitimate rights and interests of relevant parties, based on the review of real estate, shares, bank assets, and ownership of the defendants and their relatives, the Ministry of Public Security's investigation agency has seized many real estates of the defendants in the case.

Accordingly, 5 real estate properties jointly owned by Mr. Tran Bac Ha and his wife in Ho Chi Minh City were seized, including apartments in Tan Binh district; Panorama - Phu My Hung area (area 224m2); Garden Plaza II area (area 281m2); Hoang Anh River View building (area 166m2) and The Everich building (area 146m2).

The investigation agency seized two real estates formed during the marriage under the name of Ms. Ngo Kim Lan (Mr. Ha's wife).

There are 3 real estates under the name of Mr. Tran Bac Ha's son, Tran Duy Tung, that were seized, including apartments in the Vicom building, Hoang Anh River View building and Imperia apartment.

Seize shares and stocks in the name of Tran Duy Tung. Including more than 678 thousand shares of Hoang Anh Dat Xanh Quy Nhon Tourism Joint Stock Company; 15.5 million shares of An Phu Group Joint Stock Company and 500 thousand shares of An Phu Group Joint Stock Company owned by defendant Tran Anh Quang (former General Director of Binh Ha Company, Mr. Ha's nephew).

The investigation agency decided to block transactions related to 3 real estate properties in Binh Dinh of Mr. Ha's family. At the same time, it blocked transactions related to more than 1,130 shares of 3 defendants and related people.

These are the shares owned by Mr. Ha and his son, along with 3,308 shares of defendant Kieu Dinh Hoa (former Director of BIDV, Ha Tinh branch), shares of Ms. Ngo Kim Lan and more than 760,000 shares of Mr. Ha's daughter.

Transactions related to Tung's capital contribution of VND1.7 billion to Toan Cau Development Trade Production Company Limited and VND450 million of defendant Tran Anh Quang to An Phu Urban Lighting Investment Company Limited were also blocked.

In addition, the Investigation Agency also prevented transactions involving VND25 billion and more than USD102,000 of 7 defendants and 3 related people.

In this case, implementing judicial assistance in criminal matters, the Lao Supreme People's Procuracy also froze and blocked Mr. Tran Bac Ha's assets in Laos, pending handling by competent authorities in Vietnam.

The total value of this asset is about 14.4 million USD (equivalent to more than 300 billion VND).