HCMC – Tran Qui Thanh, aged 70, founder and CEO of Tan Hiep Phat Beverage Group, and his two daughters have been accused of expropriating land lots worth VND1,048 billion, reported the local media.
The Office of the Police Investigation Agency (C01) under the Ministry of Public Security today, February 24, announced further investigation findings in the case involving Thanh and his two daughters, Tran Uyen Phuong and Tran Ngoc Bich.
C01 said that the value of the expropriated assets in the case exceeded VND1,000 billion, instead of VND767 billion as previously concluded.
The trio faced charges for committing acts of property expropriation, abuse of trust and misappropriation of assets. These actions were related to several big real estate and investment projects in Dong Nai Province and HCMC in 2020.
Thanh and his two daughters used fake contracts on the transfer of projects to conceal a different contract on money borrowing with other companies and people with the aim to misappropriate their assets.
Instead of asking borrowers to use assets as collateral, the trio told them to sign project transfer contracts in which assets were undervalued. When borrowers agreed to transfer assets to Tan Hiep Phat to repay loans, Thanh directed his two daughters to manipulate ownership transfers, gaining control over assets, including real estate and shares.
From January 2019 to November 2020, the trio expropriated two projects worth VND880 billion owned by Kim Oanh Dong Nai Investment and Development JSC, as well as 35 land lots owned by three other people, with a total value of VND166 billion.
In particular, C01 determined that Tran Uyen Phuong assisted Thanh in expropriating nearly VND600 billion, while Tran Ngoc Bich aided in expropriating VND880 billion.
During the investigation, Tran Qui Thanh denied the charges, but the police have enough evidence to determine that he committed the act of abusing trust to expropriate property.
