Chau Thi Thu Nga at the trial (Source: tuoitre.vn)
 
Hanoi (VNA) – The Hanoi People’s Court on October 2 opened the first instance trial on Chau Thi Thu Nga, former Chairwoman and General Director of the Land and Housing Construction and Investment JSC (Housing Group) and her nine accomplices on the charge of swindling to appropriate assets.

The accomplices are four former Directors of Housing Group Nguyen Truong Son, Le Hong Cuong, Nguyen Vu Hung and Phan Thanh Tuyen; two former Directors of Housing Group Real Estate Trading Floor Nguyen Thi Tinh and Luu Thi Thuy; former chief accountant of Housing Group Pham Thi Thu Hanh; former Director and chief accountant of Housing Group Dinh Phuc Tieu; and former acting chief accountant of Housing Group Doan Thanh Thuy.

The court summoned 521 victims, including Hai Au Company and 68 other companies and individuals with related interests and obligations.

According to the indictment, Nga instructed the publishing of false information on the legal status and progress of the B5 Cau Dien housing project on the Housing Group’s website, for the purpose of wooing buyers of future apartments in the project. 

She also created a model of the project based on the unapproved planning and displayed it at the headquarters of Housing Group. At the same time, Nga also instructed the planting of poles at the B5 Cau Dien project area to win buyers’ trust.

Between January 1, 2009 and July 30, 2013, Nga and her accomplices signed 752 contracts worth more than 377 billion VND (16.6 million USD) with apartment buyers at the projects. However, the project has not received approval and not carried out by now.

After that, Nga returned just nearly 29 billion VND (1.26 million USD) to 43 buyers, and could not pay back the remaining 348 billion VND (15.4 million USD). She had no apartments to hand over to customers, neither.

Despite being aware of the fact that the project has not been approved and granted construction licence, the nine former company execs helped Nga to cheat buyers.  

The trial is scheduled to last until October 20.-VNA