Korean man arrested for swindling 3.5 million USD from investors
HCM City (VNA) - The Ho Chi Minh City People’s
Procuracy announced on August 11 that it has approved decisions on commencing
criminal proceedings against and arresting a Korean man and a Vietnamese
woman on charges of “swindling to appropriate assets.”
Fifty-two-year-old Kim
Bumjae and 27-year-old Nguyen Thi Huong from Tan Binh district's ward 2 in HCM City were arrested for appropriating property by
fraud.
Initial investigations
show that between March 2019 and June 2020, the Investigation Police Agency
under HCM City’s Police Department received 119 letters from individuals denouncing Raon Vietnam Co., Ltd and Khanh Asset Co., Ltd. for appropriating nearly
82 billion VND (3.5 million USD).
Local police found that
the two companies were among others opened by Kim to attract investors under
business cooperation agreements, with monthly interest rates ranging from 1.5
percent to 11.9 percent.
To win the trust of
investors, Kim promised to invest the money abroad, organise foreign exchange
classes, and open coffee shops.
However, he is thought
to have misappropriated the funds remaining after paying the interest and
expenses.
Huong assisted him in
creating the two companies and running them./.