Chairman of Tan Hoang Minh Group Do Anh Dung fully recovered more than 8,643 billion VND

As reported, the Ministry of Public Security's Investigation Police Agency (C03) has just proposed to prosecute the accused Do Anh Dung, Chairman of the Board of Directors and General Director of Tan Hoang Minh Group, and his accomplices for fraud and property appropriation.

According to the investigation conclusion, the real estate market froze, bank credit was tightened, Tan Hoang Minh Company encountered many financial difficulties, had a huge credit balance, needed money to pay due and overdue debts, continued to invest in buying and selling shares, projects, operating costs, defendant Do Anh Dung directed his subordinates to use the legal entities of 3 companies including: Ngoi Sao Viet, Soleil and Cung Dien Mua Dong to fabricate business activities with "fake" contracts (investment cooperation contracts, deposits, share purchase and sale...), which did not exist between the above companies to make plans to issue individual bond packages.

Along with that, defendant Dung colluded with defendants at Nam Viet Auditing Company Northern Branch and Hanoi CPA Company to audit, legitimize data, "beautify" the 2020 - 2021 Financial Statements of the companies, giving opinions accepting the entirety of the Vietnamese Auditing Standards to legitimize companies that are eligible to issue bonds according to the provisions of Decree 153/2020; signing "fake" contracts to transfer bonds, running "fake" cash flows showing the payment of money from Tan Hoang Minh Company to the issuing company, creating "virtual" values ​​of bond packages and bondholders for Tan Hoang Minh Company, to sell bonds widely to the people (circumventing regulations on transferring bonds to professional investors) to mobilize, then appropriate and use money for many different purposes, not in accordance with the purpose and plan of bond issuance, violating regulations.

After legalizing the documents, issuance plan and "fake" payment to become a primary bondholder, Tan Hoang Minh Company sold bonds, illegally mobilizing a total of nearly VND 13,972 billion from investors. Do Anh Dung directed the subjects at Tan Hoang Minh Company to use all the proceeds from the bond sale for many different purposes, not in accordance with the purpose and plan of the bond issuance; of which, more than VND 5,165 billion of money from later investors was used to pay investors due earlier.

The investigation agency determined that the defendant Do Anh Dung had appropriated more than VND 8,643 billion from 6,630 individual customers identified as victims in the case. During the investigation so far, the Ministry of Public Security's Investigation Police Agency has recovered a total of nearly VND 8,645 billion, remedied all the consequences of the case, ensured execution of the judgment, and returned it to the victims.

During the investigation, the defendant Do Anh Dung confessed honestly and admitted his role in the crime. Before being prosecuted, the defendant had many achievements and contributions to society, participated in many charitable activities for society; received many certificates of merit from the Government, the Prime Minister, units, localities, and sectors; the defendant himself actively cooperated with Tan Hoang Minh Company and his family to overcome the consequences of the case, so the investigation agency requested consideration when sentencing.