The director and his wife who defrauded billions of dong have been arrested.

Using the same property, the young director and his wife mortgaged it to the bank and then sold it to others to embezzle billions of dong.

On October 21st, the Can Tho City Police announced the arrest of the director and his wife of Sao Viet Automobile Co., Ltd. (Can Tho) while they were hiding in Ho Chi Minh City.

Phuong Anh and her husband at the police station. Photo: T.D.

According to the investigating agency, more than half a month ago, a nationwide arrest warrant was issued for female director Vo Thi Phuong Anh (32 years old), residing in Vi Thanh City (Hau Giang province), and her husband Nguyen Chi Thanh (32 years old, deputy director) for the crime of "abuse of trust to appropriate property".

The amount involved was determined to be 2.7 billion VND, of which the principal debt owed to the bank was 1.7 billion VND.

Working with the police, the director and his wife of Sao Viet Automobile Co., Ltd. admitted to borrowing 1 billion VND from Orient Commercial Bank, Can Tho branch.

The collateral consisted of three trucks, but Phuong Anh later sold them to someone else for 1.7 billion VND without completing the release of collateral procedures with the bank and without paying interest as per the loan agreement.

When the police got involved, Phuong Anh and her husband closed down the company and fled to Ho Chi Minh City.

According to VTC-M