Tan Hoang Minh case: Over 1,200 investors ask for reduced sentences for the defendants

Before the trial, the prosecution agencies received petitions from more than 1,200 investors who were victims in the case asking for reduced sentences for the defendants.

In the petition, more than 1,200 investors requested the Court and the Procuracy to consider reducing the criminal liability of the defendants, on the grounds that all defendants had actively cooperated with the investigation agency, confessed honestly, repented, admitted their wrongdoings, and had good personal records. Regarding the two defendants Do Anh Dung (Chairman of the Board of Directors and General Director of Tan Hoang Minh Company) and Do Hoang Viet (son of defendant Dung, Deputy General Director of Tan Hoang Minh Company), the victims requested that the prosecution agencies consider and apply a special leniency policy because in a short time they had made efforts to completely recover 100% of the bond buyers' money (more than VND 8,600 billion) into the State Treasury. These victims believe that the actions of Do Anh Dung and Do Hoang Viet to remedy the consequences not only show the defendants' remorse and repentance, but also help the victims relieve their anxiety and create trust among the people in the competent authorities.

In this case, the two defendants Do Anh Dung and Do Hoang Viet, along with 8 defendants from Tan Hoang Minh Company, including: Phung The Tinh (former Director of the Finance - Accounting Center, concurrently Director of the Finance - Accounting Department), Hoang Quyet Chien (acting Deputy Director of the Finance - Accounting Center, concurrently Director of the Finance - Accounting Department), Le Thi Mai (former Deputy Head of the Capital Resources Department), Vu Le Van Anh (Deputy Director of the Capital Resources Department), Nguyen Van Khan (Deputy Head of the Budget Department of the Finance - Accounting Center), Le Van Thinh (Deputy General Director), Tran Hong Son (Deputy General Director), Nguyen Khoa Duc (Assistant to the Deputy General Director of Tan Hoang Minh Company, Director of the Winter Palace Joint Stock Company) and 5 other defendants, including: Nguyen Manh Hung (Chairman of the Board of Directors of Ngoi Sao Viet Real Estate Investment Company Limited), Bui Thi Ngoc Lan (former Director of Nam Viet Financial Accounting and Auditing Consulting Services Company Limited, Northern Branch), Le Van Do (General Director of the Auditing Company Limited). and Hanoi Accounting), Phan Anh Hung (former Deputy Director of Hanoi CPA Company, Saigon Branch), Nguyen Thi Hai (former Deputy General Director of Hanoi CPA Company) were prosecuted by the Supreme People's Procuracy for the crime of "Fraudulent appropriation of property" according to the provisions of Article 174, Clause 4, Point a of the Penal Code.

More than 20 lawyers participated in defending the legal rights and interests of the defendants. Among them, lawyer Giang Hong Thanh (Giang Thanh Law Office) defended defendant Do Anh Dung, lawyer Nguyen Van Tu (FANCI Law Firm) defended defendant Do Hoang Viet. In connection with the case, 6,630 investors identified as victims were also summoned to court.

According to the indictment of the Supreme People's Procuracy, due to financial difficulties, in order to have money to cover the costs of maintaining the working apparatus, business operations, investments, and paying debts of Tan Hoang Minh Group, from June 2021 to March 2022, defendant Do Anh Dung agreed on the policy and through his son Do Hoang Viet directed and authorized the defendants under his authority to use the legal entities of 3 companies (Viet Star Real Estate Investment Company Limited, Soleil Hotel Investment and Services Joint Stock Company, Winter Palace Joint Stock Company) to issue 9 separate corporate bond packages with a total issuance value of VND 10,030 billion to raise money for Tan Hoang Minh Group.

In order to issue bonds, the defendants colluded in many fraudulent acts and tricks, legalizing conditions, issuance documents, offering procedures, and bond transactions such as falsifying business activities by signing legalized investment cooperation contracts, deposits, and stock sales... between companies within the Group. The defendants colluded with the auditing unit, legalized the financial statements of the 3 issuing companies, and gave full acceptance opinions to meet the conditions for bond issuance.

In addition, the defendants also signed "fake" contracts to transfer bonds, running "fake" cash flows showing that Tan Hoang Minh Company paid for bonds and cash flows from 3 issuing companies according to investment cooperation contracts, creating "virtual" values ​​for bond packages.

The Procuracy determined that the defendants used assets from the “fake” investment cooperation contracts as collateral for the bonds. From there, they created trust, used the legal entity and brand of Tan Hoang Minh Company to mobilize and appropriate from 6,630 investors a total of more than VND 8,643 billion. This amount of money was used by the defendants for many different purposes, not for the purpose of issuing bonds.