On the afternoon of 6/2, the Ho Chi Minh City People's Court sentenced defendant Phuc, 45, general director of Thien An Phat Real Estate Construction Joint Stock Company (Thien An Phat Company), for two crimes: "fraudulent appropriation of property" and "abuse of trust to appropriate property."
Regarding civil liability, the court ordered Phuc to compensate 344 billion VND to hundreds of victims and related parties. Additionally, several of the defendant's real estate properties and assets will remain seized to ensure the remediation of the consequences.
Previously, Phuc had already returned 23 billion VND to the victims.
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Defendant Huynh Thi Thanh Phuc at court today. Photo: Hai Duyen |
Defendant Huynh Thi Thanh Phuc at court today. Photo: Hai Duyen
According to the indictment, starting in late 2017, Huynh Thi Hanh Phuc acquired numerous agricultural land plots in the former Thu Duc City. She then illegally divided these plots into areas ranging from 50 to 240 square meters, commissioned site plans, and named them as various "projects" such as Nguyen Xien Residential Area 1, 2, 3; Long Thuan Residential Area, Long Thanh My, Bung Ong Thoan 2, and Linh Xuan.
Despite only having signed deposit contracts, without having transferred land ownership, changed land use purposes, or obtained permits for infrastructure investment, Phuc deceitfully advertised the legal status of these projects. She proceeded to sign transfer contracts and solicit capital contributions, thereby appropriating over 192 billion VND from 82 individuals.
At a 3,900 square meter land plot in Linh Xuan, Phuc had only paid 34 of the 60 billion VND owed but had already illegally created a project and sold 57 plots to 50 customers, collecting over 102 billion VND. When she could not deliver the land, the defendant only partially reimbursed some buyers, appropriating more than 81 billion VND from 33 individuals.
For a nearly 5,400 square meter plot in Truong Thanh, Phuc asked the landowner to hold the infrastructure documents in their name. She then independently established the Nguyen Xien 1 project, selling 48 plots and collecting over 59 billion VND. Subsequently, she resold many of these plots, generating an additional nearly 31 billion VND. The defendant also authorized others to dispose of land parcels that were already mortgaged, appropriating approximately 90 billion VND.
Using similar tactics, Phuc continued to create more "ghost projects," simultaneously selling land and providing false information about land use rights for multiple transfers, appropriating an additional 173 billion VND. When confronted by demands for money, the defendant promised to liquidate contracts and repay both principal and interest, but she only made sporadic payments or no payments at all.
According to the case file, the brokerage companies and individuals hired to sign contracts merely provided services and received agreed-upon fees. They were unaware of the fraudulent activities and were therefore not prosecuted.
In court, defendant Phuc admitted to the charges and stated that she acted alone. The individuals hired to sign contracts also confirmed they only provided services and were not aware of the legal status of the projects or land plots.
The defendant testified that the appropriated money was used to pay for land purchases and cover operational expenses of the company.
Hai Duyen
