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Violations by housing project announced after Cienco 6 executive’s suicide
The Saigon Times Daily
Thursday,  Nov 8, 2018,18:39 (GMT+7)

Violations by housing project announced after Cienco 6 executive’s suicide

The Saigon Times Daily

Police come to the scene where Cienco 6 executive Vo Phi Anh was found hanged last weekend in the file photo. Anh was involved in a police investigation of a housing project before the suicide - PHOTO: SAI GON GIAI PHONG ONLINE NEWSPAPER

HCMC – Binh Duong Province's inspection agency has announced multiple violations by a housing project receiving investments from Civil Engineering Construction JSC No.710, whose former director Vo Phi Anh was found hanged last weekend while under investigation, Nguoi Lao Dong newspaper reported.

The project, located in Dong Hoa Ward, Di An provincial Town, in Binh Duong, once completed, is expected to house civil servants. However, its investor was accused of committing violations in terms of expenses and receipts, according to the provincial chief inspector.

While the project was underway, the investor collected nearly VND10 billion by selling five backup land lots and mobilizing the civil servants to fund the infrastructure facilities and sewer treatment system’s development.

The expensing and receipt activities were not managed as regulated and showed signs of violating prevailing regulations.

Apart from that, the construction firm had issued a decision to hand over land to buyers without approval from the competent agencies. Meanwhile, it has yet to contact the provincial Department of Natural Resources and Environment to complete essential procedures has failed to pay taxes to the State budget.

Further, the investor had sold many land lots to non-civil servants and none of them have been able to obtain land use right certificates to date. Further, they were banned from building houses by the investor, causing many land lots to be abandoned over the years.

Besides this, the project’s land area was not added to the firm’s value while the equitization of the firm was underway.

Notably, the conclusions of the inspectorate agency point out that the investor had mortgaged legal documents, including the land use right certificate of the project, to the bank, which went against prevailing regulations as the period of the certificate’s legal validity had expired.

Civil Engineering Construction JSC No.710 is a former subsidiary of Cienco 6. Vo Phi Anh worked as a deputy general director of Cienco 6 before committing suicide while the police investigation of the project was underway.

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