On 16/9, Phuc, 27, was sentenced to 14 years in prison by the An Giang Provincial People's Court for fraudulent appropriation of assets. His accomplice, Truong Nhut Toi, 42, received a three-year prison sentence.

Both defendants must jointly compensate the victims for the misappropriated amount.

Nguyen Hoang Phuc (left) and Truong Nhut Toi at the trial. *Photo: Tien Tam*.

According to the indictment, Phuc worked as a sales and customer care employee at Saigon Thuong Tin Commercial Bank (SCB) - An Giang Branch from 4/2023 to 6/2025. In this role, he met many individuals who regularly lent money to clients for bank loan maturity. Around 3/2025, Phuc invested in a fake stock exchange, suffering significant losses and accumulating debt. To secure funds for further investment and debt repayment, Phuc falsely claimed that clients needed loans for bank loan maturity, enlisting his friend Toi to pose as a borrower.

Phuc forged a credit agreement in the names of Toi and his wife, using this document to borrow money from clients. Trusting Phuc, Nguyen Duy Linh lent Toi 3 billion VND. Toi then transferred the entire sum to Phuc. Using the same tactic of needing funds for loan maturity, Phuc defrauded three other individuals of 4,6 billion VND. Phuc used all the misappropriated money to invest in the fake stock exchange and for personal expenses, eventually losing everything.

The indictment states that Toi assisted Phuc by posing as a borrower but did not benefit financially from the scheme. After learning of his friend's fraud, Toi surrendered and paid 50 million VND to remedy the consequences. Phuc also remitted 20 million VND.

Ngoc Tai - Tien Tam