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Due to a need for funds to cover living expenses and to pay debts, the defendant Chu Trường Giang (born 1980) forged loan sale contracts between companies he owned in order to prepare loan documents and thereby defrauded a bank of 3 billion dong.
On the afternoon of April 21, the Hanoi People’s Court sentenced Chu Trường Giang (born 1980) to 12 years in prison for the crime of fraud and misappropriation of assets.
In June 2018, Giang, seeking money for daily expenses and debt repayment, conceived a plan to seize funds from a bank.
To implement the plan, Giang forged goods sale contracts—pharmaceuticals—between companies he owned or acquired, including VNFF Vietnam Investment Joint Stock Company; Hai Nam Investment Consulting Services Joint Stock Company; and Hanoi Q&A Limited Liability Company.
Giang lent 300 million dong to Trần Gia B. (born 1972) at an interest rate of 1% per month, using real estate as collateral: a land-use rights certificate for a plot on Me Tri Street, Hanoi.
Knowing the land title was in the name of Trần Gia H. (B.’s father, deceased), Giang asked B. to sign a transfer document for the land to Đặng Việt H. (Giang’s driver) to create an appearance of legitimacy.
On May 25, 2018, Giang filed with the Nam Từ Liêm district’s old Land Registry Office to register Đặng Việt H. as the owner of the land-use certificate, and then mortgaged the plot to borrow 3 billion dong from a bank. B. was unaware of the mortgage; Giang had the driver H. sign the documents.
Relying on the forged goods-sale contracts between Giang’s companies and the land-use certificate as collateral, on June 11, 2018 the bank disbursed more than 1.9 billion dong into the VNFF Vietnam Investment Company’s account and more than 1 billion dong into the Hanoi Q&A Hà Nội Company’s account.
After receiving the money, Giang directed staff to withdraw funds from the company accounts and spend for personal use and debt repayment.
Regarding B., fearing Giang’s fraud to seize the land, he demanded the return of the red book (land-use certificate). The defendant refused, claiming the land had been mortgaged to the bank to secure the loan.
The bank later discovered that the collateral originated in the name of Trần Gia Hải and that he had died by the time of the transfer. As a result, the bank reported Giang’s fraudulent conduct to the police.
To date, Giang’s family has repaid 500 million dong, while 2.5 billion dong remains embezzled.
Source: Hoàng An, Tiền Phong
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