Vietnam luxury property boss on trial in $355 mn bond scam

March 19, 2024

A top Vietnamese property tycoon went on trial Tuesday accused of cheating thousands of investors in a $355 million bond scam, in the nation's latest criminal case targeting high-flying business leaders. Do Anh Dung, head of the Tan Hoang Minh group, which specialises in luxury offices and apartments, went on trial in Hanoi on Tuesday alongside his son Do Hoang Viet and 13 others on fraud charges. The defendants sold bonds to raise capital, promising investors high returns, but embezzled the $355 million raised, the VNexpress news site reported, quoting a copy of the indictment. The father and son have already repaid the $355 million, according to state media. "Now I really hope they give the money paid by the boss of Tan Hoang Minh to people like us."

The source of this news is from Tuoi Tre News

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