Former CEO caught selling 2,700 illegally acquired land plots, making a profit of 1.7 trillion VND

Former CEO of Thang Long Company, Nguyen The Hung, along with other suspects, has been accused by the security agency of illegally transferring over 2,700 land plots, totaling more than 1,700 billion VND.

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On January 24th, news from the Hung Yen Provincial Police stated that the Security Investigative Agency has decided to prosecute a case, charge and detain Nguyen The Hung (DOB 1982, residing in Lien Ninh commune, Thanh Tri district, Hanoi), former CEO of Thang Long Real Estate and Trade Investment Corporation (Thang Long Company).

The defendant Nguyen The Hung (black shirt on the right). Photo: Hung Yen Police

During the investigation process, the Security Investigation Agency determined that in 2004, the Hung Yen Provincial People’s Committee approved and assigned Thang Long Company as the investor to implement the infrastructure construction project “Northward Urban Area along the Central Axis of the Southward Urban Area of National Highway 5” (located in Lieu Xa commune, Yen My district, Hung Yen province). According to the agreement, Thang Long Company was responsible for constructing the central axis road of the Southward Urban Area of National Highway 5 and fulfilling financial obligations to the state for land use.

Subsequently, Thang Long Company carried out land compensation, site clearance, embankment, and construction of some infrastructure items and the central axis road. 

However, Thang Long Company has not fulfilled its financial obligations, has not paid for land use, the urban area’s infrastructure works have not been accepted; land plots have not been granted land use rights certificates, and do not meet the conditions for land use rights transfer as prescribed by the Land Law and guiding documents. 

From 2005 until now, Thang Long Company has signed transfer contracts for more than 2,700 land plots that violate regulations, with a total amount of over 1,700 billion VND.

Nguyen Huong

SOURCEvietstock
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