Ho Chi Minh City once refused to hand over prime land to Vu Nhôm.

The indictment from the Supreme People's Procuratorate states that former intelligence colonel Phan Van Anh Vu (also known as Vu Nhôm) was assisted by two former deputy ministers of the Ministry of Public Security, Tran Viet Tan and Bui Van Thanh, and two leaders of the Intelligence Department in acquiring seven prime land plots in Da Nang and Saigon. This was not for operational purposes but to allow Vu to profit, causing a loss of 1,160 billion VND to the State.

In Ho Chi Minh City alone, the authorities once refused to hand over a plot of land near...1,300 m2at 8 Nguyen Trung Truc Street(District 1) was given to Bac Nam 79 Joint Stock Company (a front company of the Ministry of Public Security, with Vu as Chairman of the Board of Directors).

According to the investigation, immediately after being recruited as an intelligence officer at the General Department V (Ministry of Public Security) in October 2009, Vu proposed replacing the Ho Chi Minh City Import-Export and Cultural Development Company in leasing the land at 8 Nguyen Trung Truc Street. Nguyen Huu Bach (Head of Department, later Deputy Director); Phan Huu Tuan (Director, later Deputy Director General) submitted a proposal to the Ministry of Public Security, requesting the Ho Chi Minh City People's Committee to implement it. The intended use was to build a commercial complex with high-rise buildings, offices, hotels, and apartments "to serve the specific work" of the Ministry of Public Security in the South.

Although not yet approved by Ho Chi Minh City, Vu Nhôm had already agreed to sign compensation and support contracts to transfer land lease rights with the Import-Export and Cultural Development Company. Without the approval of the Ho Chi Minh City People's Committee, on May 15, 2010, Bac Nam 79 Company continued to submit a request.

On June 3, 2010, the Ho Chi Minh City People's Committee issued a document approving Bac Nam 79's use of the land at 8 Nguyen Trung Truc Street, but "it must comply with the planning objectives of Ho Chi Minh City." Two months later, the Ministry of Finance agreed in principle to allow Vu Nhôm Company to lease the land for security and defense purposes, as requested by the Ministry of Public Security.

To secure a low rental price, Nguyen Huu Bach drafted the document, and Phan Huu Tuan initialed it, before Tran Viet Tan signed the report to the Prime Minister. On February 15, 2012, the Government commented that the Ministry of Public Security's construction of an office on this land was a special case, agreeing to allow Ho Chi Minh City to rent it at a preferential price. If Bac Nam 79 Company used the land for real estate business purposes, the fees would be collected according to regulations.

On April 18, 2012, the Ho Chi Minh City Department of Finance issued a document determining the land lease price to be nearly 600,000 VND/m2 per year – remaining unchanged for the first five years. Vu paid nearly 3.8 billion VND and was granted a certificate of ownership for the house and other assets attached to the land. Currently, the land serves as the headquarters of Bac Nam 79 Company.

How were two massive plots of land in Saigon acquired?

landNo. 15 Thi Sach Street (District 1)Comprising 2,700 m2 of buildings and over 2,300 m2 of land, the property was leased by Ho Chi Minh City to the Liberation Film Company Limited, under the Ministry of Culture, Sports and Tourism (VH-TT&DL), for many years. On June 23, 2014, the General Department V of the Ministry of Public Security issued a document drafted by Nguyen Huu Bach and signed by Phan Huu Tuan, requesting the Ministry of Culture, Sports and Tourism to allow Bac Nam 79 Company to lease the land "for security purposes," with compensation of nearly 30 billion VND.

Four months later, Deputy Minister of Public Security Tran Viet Tan sent a letter to the Ho Chi Minh City People's Committee requesting to lease the land. Upon approval, Bac Nam 79 Company paid nearly 7 billion VND to the state budget for compensation for assets and structures on the land, but this amount was deducted from the land lease fee payable.

By June 2015, the Vice Chairman of the People's Committee of Ho Chi Minh CityNguyen Huu TinHe signed a decision to lease the building to Vu's company for 50 years to build an office building, with annual rent payments. However, shortly afterward, Vu created an additional project to expand the building to 83 meters in height, including 115 apartments, 72 offices, and 88 hotel rooms.

Bac Nam 79 and Novaland Company signed an agreement: one party held the legal rights to the land, while the other had the financial and investment obligations for construction. After deducting expenses, the profits would be split equally. To implement the project, the two parties established Madison Limited Company to sign contracts with construction contractors.

On December 8, 2015, the Ministry of Public Security issued another document, sent by Deputy Minister Tran Viet Tan to the Ho Chi Minh City People's Committee, urging them to assist in completing the procedures for Bac Nam 79 so that the project could be implemented on schedule. On the same day, Vu Nhôm and his partner signed an agreement allowing Madison Company to exercise all rights and obligations on behalf of Novaland. Although they had not yet fulfilled their tax obligations and had not been granted land use rights certificates, Vu Nhôm and his partner proceeded to construct an 18-story building.

According to Madison's report, the total cost of the project is currently over 700 billion VND, of which more than half has been paid. As of the end of September 2018, the company had signed sales and lease contracts with more than 100 clients and organizations for over 130 properties, collecting over 1,000 billion VND from clients.

With a similar design, the 3,800 m2 plot of land at129 Pasteur (District 3)(which was used by the General Department IV of the Ministry of Public Security as a guesthouse for foreign guests) was also transferred to Nova Bac Nam 79 Company of Vu Nhôm.

On May 28, 2015, Deputy Minister of Public Security Bui Van Thanh reported to the Prime Minister, proposing the transfer of land use rights and assets on the land to Nova Bac Nam 79. More than four months later, this proposal was approved. Based on the appraisal results of the Ho Chi Minh City authorities, the value of this land and property was determined to be nearly 300 billion VND.

One day after General Department IV signed a preliminary contract transferring land use rights to Nova Bac Nam 79, Vu Nhôm signed a promise-to-buy, promise-to-sell contract with Peak View Investment Joint Stock Company. By early January 2018, the three founding shareholders of Peak View further transferred the entire land area to Saigon - Gia Dinh Real Estate Joint Stock Company for over 350 billion VND, and this company is currently managing and using it.

The conclusion of the Asset Valuation Council in criminal proceedings at the time of the case's initiation (February 2018) determined that this land plot was worth nearly 520 billion VND. Accordingly, the investigating agency believes the State suffered a loss of over 220 billion VND. Regarding the property at 8 Nguyen Trung Truc Street – where Bac Nam 79 Company's headquarters are located – the Tax Department determined that the rental price was only half of the actual value, resulting in a loss of over 6 billion VND.

Specifically regarding the land plot at 15 Thi Sach Street, at the end of 2018, the Central Council for Valuation of Assets in Criminal Proceedings concluded that its value exceeded 760 billion VND. However, while awaiting price approval, irregularities related to Vu Nhôm were discovered, leading the Ho Chi Minh City People's Committee to freeze this asset. The investigating agency did not determine the damage caused by the land use conversion but only based its assessment on the State's loss of nearly 7 billion VND – this being the amount Vu Nhôm illegally deducted from the land lease fees.

In addition to the two former Deputy Ministers of Public Security and the heads of the relevant departments who were prosecuted for assisting Vu Nhôm, Nguyen Huu Tin, former Vice Chairman of the People's Committee of Ho Chi Minh City, was also arrested for investigation into his involvement.Violations of regulations on the management and use of state assets resulting in losses and waste.According to Article 219 of the 2015 Penal Code.

Also accused of the same offense are four other individuals: Mr. Dao Anh Kiet (61 years old, former director of the Department of Natural Resources and Environment of Ho Chi Minh City); Mr. Le Van Thanh (56 years old, Deputy Chief of the Office of the People's Committee of Ho Chi Minh City); Mr. Nguyen Thanh Chuong (44 years old, Head of the Urban Planning Department, Office of the People's Committee of Ho Chi Minh City); and Mr. Truong Van Ut (Deputy Head of the Land Management Department, Department of Natural Resources and Environment of Ho Chi Minh City).