HCMC – Pham Thi Hoa, former chairwoman of Sen Tai Thu Group JSC, has been taken into police custody on allegations of fraudulent misappropriation of assets from others, according to the Hanoi police.
Nguyen Thi Thuy Linh, Hoa’s daughter, and Nguyen Thi Lan Huong have also been detained in connection with the same charges.
Preliminary findings of the police’s investigation indicate that between 2018 and May 2023, the three individuals were aware of Sen Tai Thu Group’s huge debt and its inability to meet its financial obligations. However, they allegedly falsified documents to increase the company’s revenue, profit, and charter capital to unlawfully raise funds.
Around 100 investment contracts, with a combined value of around VND1 trillion, were reportedly signed with investors. The police are expanding their investigation into the case to clarify the roles of other individuals involved in the case.
