More Alibaba executives arrested.
Three deputy general managers of Alibaba Company and three employees were arrested on October 15th on charges of aiding and abetting Chairman Nguyen Thai Luyen in fraud.
Deputy General Director in charge of Human Resources at Alibaba Company, Dao Thi Thanh Loi; Deputy General Director in charge of Communications, Nguyen Le Hoang Lan; Nguyen Huynh Tu Trinh - legal employee; and two others are being investigated by the Anti-Corruption, Economic Crime, and Smuggling Investigation Police Department (PC03) of the Ho Chi Minh City Police for their alleged misconduct.Fraudulent appropriation of property.
On the morning of October 15th, PC03 also arrested Huynh Thi Ngoc Nhu - Deputy General Director in charge of training at Alibaba Company - on the same charges.
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| Huynh Thi Ngoc Nhu - Deputy General Director in charge of training at Alibaba Company. |
Among the defendants, Trinh, who led dozens of employees in resisting and damaging vehicles of the enforcement team targeting the "phantom" project of Alibaba Company in Phu My district (Ba Ria - Vung Tau), was sentenced to 4 years and 6 months in prison for two crimes.Gdisturbing public orderandIntentionally damaging property.
According to the investigation, Nguyen Thai Luyen and his younger brothers Nguyen Thai Linh and Nguyen Thai Luc established 23 subsidiary companies belonging to the Alibaba Real Estate Group.
The Luyen group acquired over 600 hectares of agricultural land in Dong Nai, Ba Ria - Vung Tau, and Binh Thuan provinces. Despite not having completed the necessary legal procedures or obtained project permits, the Luyen brothers created 40 projects, extensively advertising them as residential land plots to thousands of people.
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| Nguyen Thai Luyen (left) at the time of his arrest. Photo:Police provided the information. |
Authorities have determined that the defendants used land plots in a "phantom" project as bait, essentially committing fraud and misappropriating assets through a multi-level marketing scheme. Currently, more than 3,000 people have accused Alibaba Company of defrauding them of approximately 1,800 billion VND.
In September 2019, during a search of Alibaba and its subsidiaries, police seized over 9 billion VND, 250 pieces of gold-colored metal, 20 gold bars, 3 cars, and 40 land use right certificates... believed to be evidence in the case.
Besides the three Luyen brothers, PC03 has arrested or released on bail pending investigation more than 20 people for the following offenses:Fraudulent appropriation of property, money laundering...
The investigating agency is expanding the case.
