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This morning, the People's Court of Ho Chi Minh City opened a trial of defendant Nguyen Thai Luyen (Chairman of the Board of Directors and General Director of Alibaba Real Estate JSC) and 22 accomplices for the crimes of "fraudulent appropriation of property" and "money laundering".
This is a case with a very large number of victims (over 4,500 people) and about 200 people with related rights and obligations.
Defendant Nguyen Thai Luyen and accomplices appear in court
Nguyen Thai Luyen and 21 defendants were prosecuted for the crime of "Fraudulent appropriation of property" under Article 174 of the 2015 Penal Code; in which, two defendants Vo Thi Thanh Mai (Luyen's wife, holding 49.5% of the Company's shares) and Nguyen Thai Luc (Luyen's younger brother) were additionally prosecuted for the crime of "Money laundering" under Article 324 of the 2015 Penal Code. Defendant Huynh Thi Kim Thang was prosecuted for the crime of "Money laundering".
According to the content of the case, taking advantage of many people's lack of legal knowledge in transferring land use rights, Nguyen Thai Luyen established 22 companies under Alibaba, assigned relatives or confidants to be the legal representatives of the companies; then organized the purchase of a large amount of agricultural land. To have money to buy land, Alibaba Company and companies in the same system set up residential projects, illegally divided plots, provided false information such as: these are projects with full legal status, named the projects themselves to call for, tricked into signing contracts to sell land plots as residential land to raise money from customers.
To gain trust and attract customers, Nguyen Thai Luyen uses tricks such as: committing to buy back at a higher price of 30% after 12 months or 38% after 15 months from the date of payment; re-renting at a price of 2%/month from the date of signing and paying 95% of the contract value. With this method, most customers who receive land transfer in the form of residential land offered by Alibaba Company do not receive the Land Use Right Certificate in the form of residential land as committed when due, but will be converted by Alibaba Company to the form of interest payment or re-purchase according to the option contracts or attached contract appendices.
In fact, all the projects were illegally drawn by Alibaba Company on a large area of agricultural land; not allowed to be divided into plots or split; not residential land as Alibaba Company advertised and stated in the land use rights transfer contract. The provision of options or attached contract appendices is only intended to attract more investors to the projects.
Since 7:00 a.m. on December 8, many victims have come to the court to complete procedures because they have not yet learned about the trial plan. According to the trial plan, the Court requested the victims to appear in court according to the project. Specifically, for 1,418 victims in 8 projects including: Alibaba Phuoc Binh Central Park (104 people); Alibaba Phuoc Binh Central Park 2 (19 people); Alibaba Phuoc Thai Capital (5 people); Alibaba Long Phuoc Industry (114 people); Alibaba Phu My Central City (196 people); Alibaba Phu My Central City 2 (3 people); Ali Venice City (952 people); Alibaba Phu My Center City (25 people) are expected to be questioned from December 13 to 15.
The remaining 1,797 victims in 9 projects including: Alibaba Center Town (26 people); Alibaba Toc Tien Residence 3 (130 people); Alibaba Tan Thanh Center City (96 people); Alibaba Tan Thanh Center City 6 (392 people); Alibaba Tan Thanh Homy City (276 people); Alibaba Tan Thanh Center City 7 (140 people); Ali Aqua Nhon Trach (136 people); Alibaba Phuoc Binh Central Park 3 (22 people); Alibaba Toc Tien Residence 2 (366 people); Alibaba Phuoc Binh Golf (10 people) are expected to be questioned from December 15 to 17.
Security tightened at Alibaba trial
For 1,483 victims in 25 projects including: Alibaba Long Thanh Capital (28 people); Lilama International College Residential Area (6 people); Alibaba Song Long Residence (44 people); Alibaba Tan Thanh Center City 5 (88 people); Alibaba Tan Thanh Riverside (23 people); Alibaba Tan Thanh Center City 4 (1 person); Alibaba An Phuoc Eco Park (18 people); Alibaba Bau Can Riverside (962 people); Alibaba Phu My Central City 3 (105 people); Alibaba Long Phuoc +LP1+Plong (22 people); Alibaba Long Phuoc 2 (2 people); Alibaba Long Phuoc 3 (5 people); Alibaba Long Phuoc 4 (2 people); Alibaba Long Phuoc 5 (2 people); Alibaba Long Phuoc 6 (60 people); Alibaba Long Phuoc 7 (2 people); Alibaba Long Phuoc 8 (16 people); Alibaba Long Phuoc 9 (2 people); Alibaba Long Phuoc 10; Alibaba Long Phuoc 11 (1 person); Alibaba Long Phuoc 12 (30 people); Alibaba Long Phuoc 13 (5 people); Alibaba Long Phuoc 14 (35 people); Alibaba Long Phuoc 15 (1 person); Alibaba Long Phuoc 16 (15 people); Alibaba An Phuoc (8 people) are expected to be questioned from December 17-19.
At 13 projects with 2,001 victims including: Alibaba Thang Hai Newtimes City (508 people); Alibaba Tan Thanh and Tan Thanh 1 (17 people); Alibaba Binh Chau (5 people); Alibaba Hoang Gia Residence (137 people); Alibaba LThanh + LTĐNai + LThanh (17 people); Alibaba Diamond City (80 people); Alibaba Golden City (28 people); Alibaba Luxury City (31 people); Alibaba City Land (2 people); Alibaba New Land (15 people); Alibaba Tan Thanh 2 + Tan Thanh 2 (37 people); Alibaba Toc Tien Residence (13 people); Alibaba Tan Thanh Center City 1 (117 people); Alibaba Ali Mega Xuan Loc (979 people) are expected to be questioned from December 19 to 21.
The trial is scheduled to last until January 6, 2023, with Judge Tran Minh Chau presiding. Representatives of the Ho Chi Minh City People's Procuracy attending the trial are Ms. Le Thi Dong, Mr. Pham Van Hien, and Mr. Chau Hoang Son.
According to VNA
