Cà Mau Police Start Legal Proceedings in Land Transfer Scandal
On March 17, according to Người Lao Động, the Cà Mau Police Department initiated legal proceedings and extended the travel ban for individuals involved in the scandal at Cà Mau Real Estate Development Investment Corporation.
The case is related to the transfer of 13,560 square meters of land to Thiên Tân Co., Ltd.
Thạnh Phú Residential Project
Inside the Thạnh Phú Residential Project
Prior to this, some retired officials from Cà Mau Province had reported to the Government Inspectorate about Thiên Tân Co., Ltd.’s receipt of land transfer from Cà Mau Real Estate Development Investment Corporation without conducting a land use rights auction. As a result, the payment has not been made, and the project remains an empty piece of land.
In investigating the case, the Government Inspectorate has determined that during the implementation of the Thạnh Phú Residential Project in 2016, Thiên Tân Co., Ltd. received a land transfer of 13,562.60 square meters from Cà Mau Real Estate Development Investment Corporation for 15.558 billion VND.
The land transfer was not valued at the time of transfer and was not auctioned off. The contract value compared to the value determined by the land price adjustment coefficient method issued by the People’s Committee of Cà Mau Province for the above-mentioned land resulted in a difference of more than 11 billion VND.
As a result, state capital losses at Cà Mau Real Estate Development Investment Corporation led to the transfer of the case to the police for investigation.
The Thạnh Phú Residential Project was approved by the Cà Mau Provincial People’s Committee in 2004 with an area of approximately 11 hectares and Triệu Hiển Construction Co., Ltd. as the investor. Four years later, the project was transferred to Thiên Tân Co., Ltd. for implementation, where it remains to this day.
