Thay, a young director in Da Nang cheated and seized tens of billions of dong from victims by demanding a capital contribution to the promotional events business due to losses in stakes in Bitcoin investments and real estate investments
Court Sentenced Pham to 20 Years in Jail
The Da Nang City People’s Court opened a hearing on November 16 and sentenced 32-year-old defendant Pham Thi Thuy to 20 years in jail for misappropriating property.
Thuy is a director of Thanh Thuy Event Advertising Company Limited, according to the indictment. Thuy lost money in Bitcoin investment transactions, financial investments in online financial exchanges, and real estate investments at the beginning of 2018.
Thuy’s objective originated from supplying false information that Thuy’s company was operating golf event projects for Korean and Japanese partners as projects contribution time, high profit, so the victims could be confident of bringing in investment funds and then to design suitably.
Thuy utilized money from the latter to pay the former’s principle and interest, but Thuy’s financial investments, bitcoin virtual currency, and real estate all lost money, leaving him unable to repay the obligation.
Thuy then only pays interest, luring investors to leave their money in order to keep receiving high interest.
Thuy a Member of the “Da Nang Project”
Mr. Nguyen Xuan Nhat (Hai Duong Province resident) introduced Thuy through an acquaintance who specializes in high-profit golf course projects with Japanese and Korean partners, just as he did with the victim. Mr. Nhat was added to an internet group called the “Da Nang Project,” which included Thuy as a member.
Thuy has sent pictures of the VND 34 billion project contract to the Da Nang Project group, as well as information about running their company’s branded promotional events and golf courses for Japanese partners. After three months, you will be able to donate a percentage of your earnings.
Thuy has also taken photos of a number of red real estate books and cars on her behalf and forwarded them to the group as proof of their assets. Nhat signed a business collaboration agreement because he feels the project is legitimate. Mr. Nhat’s money was confiscated when he moved it to Thuy’s account.
Thuy scammed six persons and confiscated roughly VND 25 billion between April 2018 and March 2020. Thuy has just paid roughly VND 8.5 billion, with the remaining VND 16 billion owed.
Thuy was accused of fraud in the amount of nearly 25 billion dong by three other people, but the investigating authority determined that it was a civil loan transaction and ordered the litigants to sue in a different case.
