Hanoi (VNA) – Chau Thi Thu Nga, former Chairwomanand General Director of the Land and Housing Construction and Investment JSC(Housing Group), was sentenced to life imprisonment for swindling toappropriate assets at a two-week trial that concluded on October 16.

The Hanoi People’s Court also handed downsentences to nine other accomplices, including former Deputy General Directorsof Housing Group Nguyen Truong Son (six years in prison), Le Hong Cuong (fouryears), Nguyen Vu Hung (30 months), and Phan Thanh Tuyen (24 months).

Prison sentences were given to two formerDirectors of Housing Group Real Estate Trading Floor Nguyen Thi Tinh (sevenyears) and Luu Thi Thuy (36 months). Former chief accountant of the firm PhamThi Thu Hanh will have to spend 36 months in prison while another former chiefaccountant Dinh Phuc Tieu was given 36 months’ probation. Former acting chiefaccountant of Housing Group Doan Thi Thanh Thuy was sentenced to 24-monthimprisonment.

All of them were punished for swindling toappropriate assets as regulated in the Penal Code.

Aside from the life imprisonment, Nga will alsohave to pay compensation to her victims. The nine other defendants won’t be responsiblefor compensation.

According to the verdict, Nga and heraccessories appropriated over 377 billion VND (16.59 million USD) of 726clients. She returned 28.7 billion VND (1.26 million USD) to 43 clients.

The court found that Nga was the mastermindbehind the swindling when she directed other defendants to commit the crime.She also benefited from all the appropriated money.

𝄹[Former Housing Group General Director stands trial]

As pursuant to Clause 1 of Article 42 in thePenal Code and Articles 604, 605, 606 and 608 of the Civil Code, Nga and HousingGroup will have to give over 242 billion VND (10.65 million USD) incompensation to 501 victims whose appropriated money hasn’t been returned.Housing Group must be responsible for nearly 187.5 billion VND (8.25 millionUSD) of the sum while the remaining must be covered by Nga.

The verdict read that Nga knew the adjustedplanning of the B5 Cau Dien housing project hadn’t been approved and itsconstruction hadn’t been licensed. She also knew that Housing Group hadn’t beenpermitted to mobilise capital from the house buying money paid in advance bythe project’s clients. 

However, to appropriate clients’ money, Nga,together with the nine accomplices, intentionally carried out swindlingactivities.

To win clients’ trust, she instructed thepublication of false information on the website of Housing Group, the making ofa model of the project, and the planting of poles at the B5 Cau Dien project.

The investigation police department of theMinistry of Public Security decided to separate Nga’s spending of over 157billion VND (6.91 million USD) without receipts from the case for furtherinvestigation. 

Police will also further probe into the acts andresponsibilities of some relevant persons at several departments and sectors ofthe Hanoi municipal People’s Committee, the Tu Liem district People’sCommittee, and the Cau Dien town People’s Committee.-VNA