VietNamNet Bridge – The Supreme People’s Procuracy announced it has indicted Chau Thi Thu Nga, former National Assembly deputy, and nine accomplices for their role in a VND377 billion (US$16.8 million) property scam.
Chau Thi Thu Nga, former National Assembly deputy, has been indicted for her role in a massive property scam.
Nga, chairwoman of the Land and Housing Construction and Investment JSC (Housing Group), and nine others will be prosecuted on charges of “fraudulent appropriation of assets” under Article 139 of the Penal Code.
According to the indictment, the B5 Cau Dien project (North Tu Liem District, Ha Noi City) was within the land assigned by the state to the Ha Noi Import-Export Investment Construction and Development Single-Member Co., Ltd. (HAIC) for production and business activities.
It was a resettlement housing project meant to serve urban traffic development of the capital city, and not for commercial housing.
However, Nga signed a partnership contract with Nguyen Van Tuan, HAIC chairman, to co-invest in the B5 project.
The two intended to use the B5 land to construct apartment buildings and villas.
The investigation found that the new plans for the project had not been granted a construction licence by the Ha Noi People’s Committee, but the group lured unsuspecting buyers for commercial housing through false advertisements.
Between 2009 and 2013, by showing unapproved drawings of the apartments, Nga and other accomplices signed some 752 capital contribution contracts, collecting VND377 billion from home buyers, with a promise to transfer usage rights for 752 apartments from the second to the 33rd floor in a residential complex.
Nga returned some VND29 billion ($1.3 million) to buyers who withdrew from the project, but was unable to repay the remaining VND348 billion ($15.5 million) because it had already been spent.
Following many complaints from buyers who had not seen any construction progress for the apartments they’d purchased, Nga was arrested and her house raided in January 2015 by police from the Ministry of Public Security.
Nga is the mastermind who instructed the other accused to commit crimes and also possess all the appropriated money.
VNS