HCMC – The Hanoi Department of Planning and Investment has announced the freezing of assets of 762 companies in connection with Van Thinh Phat Holdings Group Corporation, whose chairwoman Truong My Lan was detained early last month over alleged appropriation of assets.
These companies’ bank accounts and other financial assets including properties, stakes, paid-in capital and shares have been frozen at the request of the Investigative Agency of the Ministry of Public Security (MPS), the department said.
The asset freeze is aimed to facilitate the ministry’s investigations and prevent 14 defendants and those involved in the case from dissipating their assets.
These 14 defendants and other individuals include Van Thinh Phat chairwoman Truong My Lan; Truong Hue Van, general director of Windsor Property Management Group Corporation; and Ho Buu Phuong, former deputy general director for finance at Van Thinh Phat Holdings Group Corporation.
The department asked the relevant agencies, organizations and individuals to immediately stop all transactions to transfer, buy, purchase, or mortgage assets related to the above businesses and individuals in Hanoi.
Among the 762 companies subject to the asset freeze, most are joint stock companies and some are limited ones.
These firms also comprise Van Thinh Phat Holdings Group Corporation and its affiliate An Dong Investment Group Corporation. Besides, the State-run construction firm Civil Engineering Construction Corporation No. 6, or Cienco6, is also on the asset freeze list.
Speaking at a regular Government news briefing late last month, Lieutenant General To An Xo, office chief and spokesperson of the MPS, said that the alleged fraud involving Truong My Lan and her accomplices was one of the toughest cases for the law enforcement.
“But no matter how hard it is, we will make all-out efforts to solve the case,” Xo said.
On October 7, MPS investigators pressed charges against Truong My Lan, Truong Hue Van, Ho Buu Phuong, and Nguyen Phuong Hong, an assistant at Van Thinh Phat Holdings Group Corporation for allegedly appropriating assets.