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Mr. Vu Huy Hoang (67 years old, former Minister of Industry and Commerce) was accused of many mistakes that caused the golden soil in Ho Chi Minh City of the Sabeco Corporation to fall into a private company.
The Supreme People’s Prosecutor’s Office has just issued an indictment to prosecute Mr. Vu Huy Hoang on charges of “violation of the rules on the management and use of State property, causing loss and waste.”
Furthermore, the same prosecution for the aforementioned crime included Phan Chi Dung (former Director of the Department of Light Industry, Ministry of Industry and Commerce), Mr. Nguyen Huu Tin (former Vice Chairman of the Ho Chi Minh City People’s Committee), the Mr. Dao Anh Kiet (former Director of the Department of Natural Resources and Environment of Ho Chi Minh City) and 6 other defendants.
According to the complaints, the 2-4-6 Hai Ba Trung land (more than 6,000 m2) was arranged to be assigned to Sabeco Corporation (dependent on the Ministry of Industry and Commerce, with state capital representing 89.59%) for its management and use. invest and build 6-star hotels, shopping centers, conference centers, seminars, and offices under lease, and not set up new legal entities.
However, when Sabeco implemented the project on Hai Ba Trung land 2-4-6, this unit could not arrange the amount to be paid to convert the purpose of use is more than 1,200 billion VND but defendant Vu Huy Hoang still decided to invest in the project in order not to comply with government resolutions.
Defendant Hoang instructed the state capital management division in Sabeco to implement the joint venture and partnership to establish the Sabeco Pearl Company, contrary to the provisions of Decision No. 86/2010 / QD – TTg to reverse judgment.
Based on the approval and direction of the defendant Hoang, the defendant Ho Thi Kim Thoa (former Vice Minister of Industry and Commerce), Mr. Phan Dang Tuat (Chairman of the Board of Directors) signed the official letter No. 374 along with the approval in writing from the Ministry of Industry and Commerce requesting the People’s Committee of Ho Chi Minh City to approve Sabeco Pearl as an investor in the project, fulfill financial obligations and transfer the land use rights from Sabeco to Sabeco Pearl.
Since then, the departments under the Ho Chi Minh City People’s Committee have advised the defendant Nguyen Huu Tin (Vice Chairman of the Ho Chi Minh City People’s Committee) to sign and issue Decision No. 3186 QD – The People’s Committee of Sabeco Pearl Company to hire. land law.
Immediately after Sabeco Pearl became an investor and transferred the right to use the land (June 2015), although no activities have been carried out, until February 2016, taking advantage of the government’s divestment policy and after receiving 2 documents from the group. of the founding shareholders of Sabeco Pearl Company to Minister Vu Huy Hoang instructing Sabeco to withdraw 26% of the contributed capital and propose to buy back this contributed capital.
Defendant Hoang has drastically instructed Sabeco to expedite divestment procedures and approved the auction starting price of VND 13,247 / share.
Defendant Hoang did not even consider and evaluate the planning and architectural objectives of the project that was approved by the Ho Chi Minh City People’s Committee to add the apartment function, he withdrew all 26% of Sabeco’s capital in the Company. Sabeco Pearl.
Until now, Me Linh Square Investment Joint Stock Company (formerly known as Sabeco Pearl Company), a 100% privately owned company is the unit that has the right to use the land 2-4-6 Hai Ba Trung.
VKS assessed that this is a particularly serious case of public concern.
Most of the defendants in the case are industry leaders, key officials from the Ministry of Industry and Commerce and the Ho Chi Minh City People’s Committee. However, for different reasons, the defendants have committed serious violations of the law, which have been carried out for a long time.
Former Minister Vu Huy Hoang and his accomplices intentionally violated regulations on the administration of state property, violated regulations on land administration, and then transferred the right to manage and use the land 2-4 -6 Hai Ba Trung is a state property for private parties, causing a loss of a particularly large amount: more than 2.7 billion VND.
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