General Director of 'super project' embezzling nearly 160 billion sentenced to life in prison
Vo Thanh Long, General Director of Phu Huu Eco-tourism Area, was sentenced to life in prison for embezzling nearly 160 billion from more than 800 people.
According to the People's Court, Long was the mastermind, directed and, together with his employees, took advantage of the Phu Huu Eco-tourism project to mobilize capital through multi-level marketing, embezzling money from the victims... so he must bear primary responsibility.
Long's 9 accomplices were sentenced from 7 years and 6 months to 18 years in prison for the same crime; they must jointly pay more than 28 billion VND to the victim.
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| Defendant Vo Thanh Long (middle), listening to the court's verdict. Photo: Cuu Long |
The verdict determined that in 2017, Long bought the Phu Huu Eco-tourism project in Chau Thanh district, with an area of more than 10 hectares for 26 billion VND, then advertised it as "super project"12-hectare resort, worth 700 billion.
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| The defendants at the trial on March 22. Photo: Cuu Long |
Hundreds of people in the southern provinces, mainly the elderly and farmers, trusted Long's group and gave them all their savings.
Using the above tricks, Long and his accomplices appropriated nearly 160 billion VND from 816 people in 39 provinces and cities. Most of the money was used to pay off debts for Uoc Mo Viet International Joint Stock Company, for the operations of Cao Thang Real Estate Joint Stock Company, commissions, personal expenses, etc.
During the trial, Long and his accomplices admitted their crimes./.
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