On 7/1, Thai Nguyen Provincial Police announced that the Economic Police Department has initiated legal proceedings and temporarily detained three individuals: two real estate consultants and one speculative property buyer. They are under investigation for forging documents of agencies and organizations and using forged documents of agencies and organizations, as stipulated in Clause 3, Article 341 of the Criminal Code.

Dai Thang residential area housing project. *Photo: Thai Nguyen Newspaper*

The investigation centers on the Dai Thang residential area social housing project, developed by TNG Land Joint Stock Company. This project encompasses 395 social housing units, comprising 361 high-rise apartments and 34 low-rise townhouses. The Thai Nguyen Provincial People's Committee approved the investment policy for the project, and the Department of Construction issued a construction permit, with groundbreaking on 14/3/2024.

On 19/4/2024, TNG Land Joint Stock Company signed contracts with several companies for project consultation and product distribution. According to current regulations, individuals seeking to purchase social housing in Thai Nguyen province must meet specific legal requirements.

However, during the apartment sales process, some real estate consultants reportedly colluded with other individuals to create forged documents. This scheme aimed to exploit social housing policies for personal gain. To date, TNG Land Joint Stock Company, the investor, has signed purchase agreements for over 300 units with customers, accumulating total deposits exceeding 200 billion VND.

Police confirmed that the two arrested real estate consultants and the speculative buyer engaged in forging official documents. These forged papers were then used to create fraudulent applications, thereby legitimizing illegal procedures to acquire social housing units.

Preliminary findings indicate that 304 entities were involved in processing social housing purchase applications at the Dai Thang residential area. This figure includes 67 state agencies and 234 businesses and cooperatives. Furthermore, a significant number of applications showed clear signs of using forged documents from various agencies and organizations.