HCMC – The Ministry of Public Security (MPS) said Nguyen Thi Nhu Loan, former CEO of Quoc Cuong Gia Lai, had been accused of violating land transfer regulations, causing losses for the State.
The ministry provided an update on the investigation involving Loan at a press conference today, August 5.
Major General Hoang Anh Tuyen, deputy office chief and spokesperson for MPS, said the Police Department for Corruption, Smuggling and Economic Crimes (C03) had initiated legal proceedings and detained Loan on July 19.
She is charged under Clause 3, Article 219 of the Penal Code for violations in managing and using state assets, leading to losses and wastefulness.
Loan’s arrest is part of a broader investigation into misconduct at the Vietnam Rubber Group, Dong Nai Rubber Company, Ba Ria Rubber Company, the Ministry of Natural Resources and Environment, and other related entities. The investigation centers on a property development project at 39-39B Ben Van Don Street, Ward 12, District 4, HCMC.
So far, 17 individuals have been prosecuted in connection with this case. Initial findings indicated that Loan colluded with Le Y Linh, former director of Viet Tin General Trading Company; Dang Phuoc Dua, former chairman of Viet Tin General Trading Company; and others from the Vietnam Rubber Group, Dong Nai Rubber Company, and Ba Ria Rubber Company.
They allegedly signed investment and capital transfer agreements to acquire 100% of land at the above address from the Vietnam Rubber Group without proper auctions, violating legal regulations. The land was then sold to Thinh Vuong Real Estate Company, causing substantial financial damage to the state.
