Real estate company employee embezzles billions of dong by cheating on land purchase

On October 17, the Criminal Police Department of Da Nang City Police said it was investigating the case of "Fraudulent appropriation of property" committed by Nguyen Chi Hoc (37 years old, residing in Ward 13, Tan Binh District, Ho Chi Minh City).

According to the investigation, in January 2022, Hoc went to Da Nang to work at a real estate company based on Nguyen Huu Tho Street, and was later appointed Head of the company's Science Department.

In April 2022, because of gambling online and losing, borrowing from many places, Hoc came up with the idea of ​​defrauding and appropriating money from his colleagues in the company.

Accordingly, Hoc told many people that he had relationships with people working in banks in Ho Chi Minh City, so he knew information about sources of "basement" priced houses (homeowners sold at prices lower than the bank's valuation) or sources of houses foreclosed by banks... to raise capital.

They offer a profit margin of 3% on the total value of the house, the higher the value of the house, the greater the profit margin.

Trusting, some people invested 30-40 million VND and were paid the promised profit by Hoc, so more and more people continued to trust and contribute capital, some people contributed up to 1 billion VND.

By September 2022, Hoc admitted that all information about the "collapsed" house and land source was false, so many people filed complaints with the police.

During the investigation, in March 2023, the Criminal Police Department of Da Nang City Police prosecuted and detained Nguyen Chi Hoc.

The Criminal Police Department of Da Nang City Police announced that anyone who is a victim of Hoc should contact the investigation agency to report at the contact number 069.4260.111 or the investigator handling the case at 0935.356.589.