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Man faces trial for stealing $7 mln with real estate Ponzi scheme

snoop1130
in Vietnam News

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KHUDULICHPHUHUU73941644395738-4267-8140-1644467406_680x408.jpg

Phu Huu resort and tourism center in the southern province of Hau Giang. Photo by VnExpress/Cuu Long

 

A man who allegedly defrauded 817 people in southern Vietnam with a real estate scheme to swindle VND160 billion ($7 million) is set to go on trial.

 

Vo Thanh Long of Chau Thanh District, Hau Giang Province, and nine accomplices face charges of defrauding and misappropriating assets, the province procuracy – the prosecutor’s office -- announced.

 

Long, CEO of Cao Thang Real Estate Company, bought a 10-hectare plot of land in Chau Thanh in early 2017 for VND26 billion and advertised it as a 12-hectare resort.

 

Full Story: https://e.vnexpress.net/news/economy/man-faces-trial-for-stealing-7-mln-with-real-estate-ponzi-scheme-4425868.html

 

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-- © Copyright VN Express 2022-02-10

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