HAOI: According to the government, a significant real estate developer in Vietnam defrauded 42, 000 investors in an$ 1.2 billion bond con as police pleaded with the patients to support their investigation.
According to a statement posted late on Monday( Oct 2) on the government’s site, Van Thinh Phat and its members were accused of fraudulently issuing bonds from 2018 to 2020 to raise money from investors.
According to the statement, Nguyen Van Thanh, deputy head of the department for investigation of corruption and economy offense under Vietnam’s Ministry of Public Security,” we request traders come forth, helping the research agencies perfect records and documents.”
According to Thanh, the freedom of more than 42 000 patients may be safeguarded.
Truong My Lan, the director of the Van Thinh Phat Group, was detained in October 2022, which led to the news.
For” deceptive appropriation of house,” officers opened an investigation into Lan and three other individuals.
Since its founding in 1992, Van Thinh Phat has a property portfolio that includes upscale accommodations, eateries, and opulent rentals. Additionally, it has made investments in financial companies.
In recent years, the state of Vietnam has been cracking down on dishonest leaders and business leaders.
Officials detained businessman Trinh Van Quyet in March of last year for stock market manipulation. He is the president of the FLC class, which includes opulent resorts, golf courses, and flight Bamboo Airways.