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On April 1, the Ho Chi Minh City People’s Court opened a first-instance trial into alleged violations involving Phú Mỹ Investment and Development Joint Stock Company (Phú Mỹ) and Agribank’s Mac Thi Buoi Branch. The panel, chaired by Judge Phạm Uyên Thy, will review the conduct of nine defendants divided into two groups.
The Phú Mỹ company leadership group includes Trần Hoàng Trinh (Director), Hứa Thị Bích Hạnh, Ngô Nguyễn Đoan Trang, Lâm Kim Dũng, and Hứa Xương. The defendants are charged with fraudulently obtaining assets under point a, paragraph 4, Article 174 of the 2015 Penal Code.
To assist the proceedings, the court summoned a total of 70 individuals and organizations with interests related to the case, including Hoa Bình Construction and Real Estate Company; Công ty TNHH Đầu tư Phát triển nhà Quốc Cường; and Công ty TNHH Dịch vụ Thương mại Sản xuất Xây dựng Đông Mê Kông, among others.
The court also summoned state management units and international organizations, including the Investment and Construction Management Board of the South Saigon New Urban Area, Asia Land Ltd, and MS Investment (Malaysia).
In addition, the court summoned a large number of individuals with rights and obligations related to the case, many of whom reside in Phong Phú and Bình Hưng communes, Bình Chánh District (formerly).
Before the trial, the Ho Chi Minh City People’s Court issued a notice calling Hứa Xương (born in 1952; brother of Hứa Thị Phấn, the late chairwoman of Phú Mỹ). The notice states that he is currently a fugitive and has been sought by the City Police Investigation Agency as of October 7, 2025.
The court emphasized that surrender would be a basis for leniency and would ensure the right to defend oneself under the law. It also stated that if the defendant does not surrender before the first-instance proceedings—scheduled from April 1 to April 9—the court will treat this as a waiver of the right to self-defense and proceed in absentia.
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