Mai Ha Trang, 38 years old, chairman of the board and chief executive officer of Cong ty co phan Xuc tien thuong mai CCV Group, has been indicted by Co quan canh sat dieu tra Cong an Ha Noi for investigation into the crime of 'fraudulent appropriation of property'.

According to initial investigations, from 2021 to 2023, Trang utilized CCV Group to solicit investors for business cooperation, promising high monthly returns ranging from 3% to 7%. To attract investment, she instructed sales staff to promote an agricultural production model and health products derived from centella asiatica.

Trang also established several other companies to project the image of a diverse business ecosystem. However, these companies were not operating effectively and generated no revenue.

CCV Group further inflated its charter capital without actual contributed funds, thereby mobilizing over 2,000 capital contribution contracts totaling approximately 1,030 billion VND from investors nationwide. Most of the funds mobilized were not used for the promised business production purposes.

CCV Group chairman Mai Ha Trang at the investigative agency. Photo: Cong an Ha Noi

Police determined that Trang invested only a small portion into business operations. The remaining money, the defendant used to pay interest to previous investors, cover commissions for capital mobilization contacts, and for personal purposes.

By 4/2023, CCV Group became unable to make payments on its promised returns. In subsequent months, many investors filed complaints against Trang, citing signs of fraud.

CCV Group was established in 2018. Subsequently, the enterprise was named as a capital contributor in the establishment of Cong ty co phan Vua rau ma. Trang was presented in the media as the legal representative for both enterprises.

Explaining her choice of centella asiatica as the main agricultural product, Trang stated that it met all the enterprise's business criteria, being both familiar to Vietnamese people and a beneficial herb for human health. The enterprise also widely advertised that it had selected Long An as the location for its farm.

Contrary to these advertisements, police determined that CCV Group had leased 46,1 ha of land from 14 households in Huyen Ben Luc, Long An province, for growing centella asiatica from 1/2021 to 7/2023, after which the land was abandoned.