Tan Hoang Minh Chairman and 14 accomplices to be tried on March 19

The Hanoi People's Court has just decided that on March 19, it will open the first-instance trial of the fraud case that occurred at Tan Hoang Minh Hotel Service Trading Company Limited (abbreviated as Tan Hoang Minh Company).

In this case, defendant Do Anh Dung (Chairman of the Board of Directors and General Director of Tan Hoang Minh Company) and 14 accomplices were prosecuted by the Supreme People's Procuracy for the same crime of "Fraudulent appropriation of property" as prescribed in Article 174, Clause 4, Point a of the Penal Code.

The trial is expected to last 20 days. The trial panel consists of 5 people: 2 judges, 3 people's assessors, chaired by Judge Nguyen Xuan Van (Chief of Criminal Court, Hanoi People's Court).

Three prosecutors from the Supreme People's Procuracy and two prosecutors from the Hanoi People's Procuracy were assigned to exercise the right to prosecute at the trial.

In this case, there are 15 defendants including: Do Anh Dung (born in 1961, Chairman of the Board of Directors and General Director of Tan Hoang Minh Company), Do Hoang Viet (born in 1994, son of defendant Dung, Deputy General Director of Tan Hoang Minh Company), Phung The Tinh (born in 1973, former Director of the Finance - Accounting Center, concurrently Director of the Finance - Accounting Department of Tan Hoang Minh Company, Chief Accountant of Soleil Company), Hoang Quyet Chien (born in 1972, acting Deputy Director of the Finance - Accounting Center, concurrently Director of the Finance - Accounting Department of Tan Hoang Minh Company), Le Thi Mai (born in 1962, former Deputy Head of the Capital Resources Department, Tan Hoang Minh Company), Vu Le Van Anh (born in 1982, Deputy Director of the Capital Resources Department, Tan Hoang Minh Company), Nguyen Van Khan (born in 1989, Deputy Head of the Budget Department of the Finance - Accounting Center of Tan Hoang Minh Company), Le Van Thinh (born in 1978, Deputy General Director of Tan Hoang Minh Company), Nguyen Manh Hung (born in 1978, Chairman of the Board of Directors of Ngoi Sao Viet Real Estate Investment Company Limited), Tran Hong Son (born in 1961, Deputy General Director of Tan Hoang Minh Company), Nguyen Khoa Duc (born in 1984, Assistant to Deputy General Director of Tan Hoang Minh Company, Director of Winter Palace Joint Stock Company), Bui Thi Ngoc Lan (born in 1975, former Director of Nam Viet Financial Consulting and Accounting Services Company Limited, Northern Branch), Le Van Do (born in 1960, General Director of Hanoi Auditing and Accounting Company Limited), Phan Anh Hung (born in 1986, former Deputy Director of Hanoi CPA Company, Saigon Branch), Nguyen Thi Hai (born in 1986, former Deputy General Director of Hanoi CPA Company).

According to the indictment, due to financial difficulties, in order to have money to maintain the working apparatus, business operations, investments, and pay debts of Tan Hoang Minh Group, from June 2021 to March 2022, Do Anh Dung agreed on the policy and through Do Hoang Viet directed and authorized the defendants under his authority to use the legal entities of 3 companies (Ngoi Sao Viet, Soleil, Cung Cung Mua Dong) 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, bond transactions, falsifying business activities by signing non-existent investment cooperation contracts, deposits, share sales... between the companies in the group; colluding with defendants from auditing units, legalizing financial statements of 3 issuing companies, giving full acceptance opinions to legalize these companies as qualified to issue bonds; signing "fake" contracts to transfer bonds, running "fake" cash flows showing that Tan Hoang Minh Company paid for bond purchases and cash flows from 3 issuing companies according to investment cooperation contracts; creating "virtual" values ​​for bond packages, using assets of the "fake" investment cooperation contracts as collateral for bonds...

From there, the defendants created trust, used the legal entity and brand of Tan Hoang Minh Company to mobilize and appropriate from 6,630 investors a total amount of more than VND 8,643 billion, used for many different purposes, not for the purpose of issuance.

Among the defendants, Do Anh Dung was identified by the Procuracy as the person who operated, directed, and made the highest decisions regarding economic activities at Tan Hoang Minh Company and the system of companies under Tan Hoang Minh Group.

Dung directed his son, Do Hoang Viet, Deputy General Director in charge of finance, to find capital to maintain the group's business and investment activities through the issuance of private bonds to raise capital.

Defendant Dung also agreed and approved the implementation of the following contents: selecting a company under Tan Hoang Minh Group to issue, expected issuance value, collateral, interest rate, using Tan Hoang Minh Company to buy primary bonds to gain prestige and Tan Hoang Minh brand to sell bonds to investors...

At the same time, Dung established the Bond Trading Center under Tan Hoang Minh and assigned Viet to direct and manage the sale of bonds; authorized Le Van Thinh, Deputy General Director and 21 individuals at Tan Hoang Minh to sign contracts, procedures for selling bonds, and mobilize money from bond buyers.

Every day, the revenue and expenditure figures from the bond issuance are reported to Do Anh Dung through the Accounting and Finance Center and the Office of the Chairman and General Director for information and direction; directing the defendants and related individuals at Tan Hoang Minh Company to use the proceeds from bond sales for various purposes, not in accordance with the bond issuance plan...