Mr. Nguyen Cao Tri was arrested for embezzling more than 40 million USD from Ms. Truong My Lan.

On the afternoon of August 5, at the regular Government press conference, the press asked the representative of the Ministry of Public Security about Mr. Nguyen Cao Tri - member of the Council of Van Lang University, General Director of Saigon - Dai Ninh Tourism Investment Joint Stock Company - continuously appearing on the media and social networks after he was prevented by the Department of Justice of Lam Dong province from real estate-related transactions.

Lieutenant General To An Xo - spokesman of the Ministry of Public Security, said that on January 15, the Ministry of Public Security's Investigation Police Department issued a decision to prosecute and temporarily detain Mr. Nguyen Cao Tri (born in 1970) for the crime of abuse of trust to appropriate property. The process of expanding the investigation of the case at An Dong Investment Group Joint Stock Company (Van Thinh Phat Group) determined that Truong My Lan (Chairman of the Board of Directors of Van Thinh Phat) had an investment and business relationship with Nguyen Cao Tri.

Lieutenant General To An Xo

"Ms. Truong My Lan transferred more than 40 million USD to Nguyen Cao Tri to buy and sell projects and do business. But when Truong My Lan was arrested, Nguyen Cao Tri had the intention of appropriating the money Ms. Lan had transferred to Tri. Nguyen Cao Tri directed a number of employees to destroy all documents and evidence that Lan transferred 40 million USD with the purpose of taking all of the money," said Mr. To An Xo.

According to Lieutenant General To An Xo, at the investigation agency, Nguyen Cao Tri admitted his guilt and will have to return all the money he embezzled. The investigation agency has also seized and frozen Tri's assets to ensure the recovery of assets for the case.

"Through this incident, the Ministry of Public Security warns and informs the law that it will strictly handle those who use tricks to appropriate money and assets transferred by partners when the partners are involved in legal trouble," Lieutenant General To An Xo added.

On July 6, the Permanent Vice President of Van Lang University confirmed that in June 2023, the University Council completed the personnel for the position of Chairman of the University Council for the 2020-2025 term, Ms. Bui Thi Van Anh replacing Mr. Nguyen Cao Tri.

This is the next activity of organizations related to Mr. Nguyen Cao Tri after the information that this businessman has mysteriously disappeared.

Previously, the Department of Justice of Lam Dong province sent a document requesting notary offices in the province not to notarize real estate transaction contracts related to Mr. Tri.

Mr. Nguyen Cao Tri is a familiar face among the Saigon tycoons, standing out with the Capella Holdings ecosystem, doing business in many fields such as real estate, cuisine, entertainment, education... In the field of cuisine and entertainment, Capella Holdings owns many famous brands such as: Chill Skybar, Chloe Gallery Conference - Wedding Center, Riverside Palace, Capella Park View, Capella Gallery Hall, Claris Palace.

Not only Capella Holdings, Mr. Tri is also on the Board of Directors (BOD) of Khanh Hoi Investment and Service Joint Stock Company (Khahomex) - a real estate company that is listing shares on the stock exchange with the code KHA.

According to VTC News