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The Police Investigation Department has just concluded the investigation and transferred the file to the Public Prosecutor’s Office of the same level to propose the prosecution of Nguyen Thai Luyen, president of Alibaba Real Estate Joint Stock Company and 22 accomplices.
It was proposed that Nguyen Thai Luyen and most of the defendants in the case be prosecuted for “fraud and appropriation of property”.
Furthermore, it was also proposed that the defendants Vo Thi Thanh Mai (wife) and Nguyen Thai Luc (Luyen’s younger brother) prosecute further charges of “money laundering”.
In particular, Alibaba Company’s chief accountant, Huynh Thi Kim Thang, only proposed to prosecute “money laundering.”
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| Three Brothers of Nguyen Thai Luyen |
So far, the police have determined that Alibaba Real Estate Joint Stock Company is on behalf of the real estate business, but the true nature is fraud, mobilizing capital in the form of multiple tiers and using ghost projects as bait. customers are trapped. This scam group led 3,924 customers into the trap, appropriating the amount of 2,373 billion VND.
The tricks of Luyen and his accomplices were to set up 22 different companies, buy 58 agricultural land in provinces like Dong Nai, Binh Thuan, Ba Ria – Vung Tau … and level and build illegal infrastructure, draw ghost projects and then advertise them as residential projects high-class to sell to customers.
Alibaba also promises to be attractive to customers, such as: flexible payment, buying the land at high prices, paying high interest based on the amount of money customers pay or sublet …
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| The police block the assets of the Alibaba company and individuals totaling 1,500 billion dong to ensure compliance with sentences and overcome the consequences. |
According to the investigative agency, Luyen assigned trusted family members and employees to purchase agricultural land with a large area and draw ghost projects by themselves. All areas of land advertised as “exploit” have not been approved by local state management agencies for land use conversion, have not been authorized for construction, and have not had a project licensing policy.
Practice and its accomplices have created 22 companies for their trusted employees to keep their names and headquarters everywhere. These companies have a nomenclature to sign contracts, receive money from clients. The cash flow from the phantom projects is transferred to the parent company, Alibaba Real Estate JSC.
Nguyen Thai Luyen assigned his wife, Mai, and his younger brother, Luc, in coordination with his accountant, Kim Thang, to use part of the working staff salary system, premises, land for drawing projects, and large to turn around , hide the real origin.
In September 2019, the CSDT’s Ho Chi Minh City Police Department coordinated with the Ministry of Public Security to destroy the fraud group Alibaba. During the investigation, the law enforcement agency has recovered and distracted many assets with an estimated value of nearly 1.5 billion VND to ensure enforcement of the sentence and overcome the consequences later.
Alibaba employee said Nguyen Thai Luyen directed ‘shake’
Trinh stated, Nguyen Thai Luyen ordered “to make big trouble, shake things up” that the Phu My Commune People’s Committee illegally left the vehicle on the project hoe.
Trang Nguyen
