On 1/8, An Giang provincial police arrested Quanh for fraud and property appropriation, continuing to investigate the actions of related individuals.

Danh Quanh at the investigation agency. Photo: Tien Tam

The investigation revealed that in late 2023, Quanh noticed a surge in rice prices and traders' high demand to fulfill export contracts. He then devised a plan to defraud traders with a group of accomplices. He claimed to know many rice field owners in Hon Dat district, the former Kien Giang province, and offered to sign rice purchase contracts on behalf of the traders.

Quanh and his accomplices then staged a contract signing, deceiving the buyers. In just two months, Quanh's group defrauded seven traders, misappropriating 5.7 billion VND in deposits. The case was initiated, but Quanh fled, leading to an investigation and subsequent arrest warrant.

Rice brokers, typically locals, act as intermediaries, connecting traders with field owners to facilitate purchase agreements and accepting deposits provided by the traders. This method exists because most traders are from other provinces and have difficulty identifying field owners. Most rice fields in the Mekong Delta region are traded through intermediaries.

Ngoc Tai - Tien Tam