Former company director prosecuted for defrauding 45 billion VND.
On the afternoon of October 13th, the People's Procuracy of Ca Mau province announced that it had completed the indictment against defendants Nguyen Minh Tan (born in 1991, former Director of Linh Yen Phi Trading, Service and Construction Investment Company Limited, Bac Lieu ward, Ca Mau province); Le Thi Thanh Nghi (born in 1985, former Director of Linh Yen Phi Company, Can Tho branch); and Nguyen Dang Trinh (born in 1983, residing in Vinh Long province), all for the crime of "Fraudulent appropriation of property".
According to the case file, due to debts owed to numerous organizations and individuals, Tan conceived the idea of misappropriating money from others to repay debts and for personal use. Tan registered and acted as the legal representative for many companies, branches, representative offices, and business households in various provinces and cities, such as Bac Lieu, Ca Mau, Soc Trang, Can Tho City (formerly), Ho Chi Minh City, etc.
Furthermore, Tan also created a website posting many images of Linh Yen Phi Company's shrimp purchasing, livestock farming, and charitable kitchens. On the other hand, to gain the trust of the victims, Linh Yen Phi Company also signed an investment cooperation contract with another company to contribute capital to build three projects, including: a sports and land-based games area; a 5-star hotel with a zither-shaped roof; and a resort, with a total investment of 1,100 billion VND.
By establishing a system of companies where he was the legal representative, Tan encouraged victims to invest and contribute capital to Linh Yen Phi Company in exchange for profit sharing, such as: investing in business cooperation; investing in shrimp vouchers; lending to pay project taxes; refinancing bank loans, etc.
After receiving the money, Tan did not use it as agreed or as per the signed contract, but instead misappropriated it for personal purposes, such as: paying personal debts; paying salaries to employees; and paying profits to the victims who had invested earlier, or using the victims' invested money to pay profits to themselves.
Using the aforementioned methods and tactics from May to December 2022, Tan, Nghi, and Trinh defrauded 24 victims of nearly 15 billion VND. Furthermore, from December 2020 to September 2023, Tan also used deceptive methods by soliciting investments in Linh Yen Phi Company to share profits, sell land, or rent vehicles for the company's operations, defrauding 10 victims of a total of 30 billion VND...
