The Ministry of Public Security has recently announced an expanded investigation into a case of “Violation of regulations on the management and use of state assets, causing waste and loss” at the Phan Thiet Beach Urban Area project in Phu Thuy Ward, Phan Thiet City, Binh Thuan Province. The project is invested by Rạng Đông JSC.
On July 3, 2024, the Investigation Agency of the Ministry of Public Security issued a decision to prosecute and arrest five individuals on charges of “Violation of regulations on the management and use of state assets, causing waste and loss”, as stipulated in Article 219, Clause 3 of the Penal Code. The accused are: Mr. Nguyen Ngoc, former Vice Chairman of the People’s Committee of Binh Thuan Province; Mr. Le Quang Vinh, Secretary of the Party Committee and Chairman of the People’s Committee of Phu Quy District, Binh Thuan Province; Mr. Huynh Luong Thien, specialist of the Investment and Construction Planning Department under the Office of the Provincial People’s Committee; Mr. Nguyen Van Tho, Chairman of the Board of Directors of Southern Information and Pricing Company; and Mr. Truong Van Ri, former Deputy General Director of Southern Information and Pricing Company, and Director of the Company’s branch in Binh Thuan Province.
On July 3 and 4, with the approval of the Supreme People’s Procuracy (Department 5), the Investigation Agency of the Ministry of Public Security executed the arrest and search warrants in accordance with legal procedures.
The Phan Thiet Beach Urban Area project is located on the site of the former Phan Thiet golf course, covering an area of more than 62 hectares in Phu Thuy Ward, Phan Thiet City. The project has gone through multiple adjustments in scale and investors. Initially, the investor of the Phan Thiet golf course project was Regent International Overseas Corp., a 100% foreign-owned company, which was granted an investment license on July 27, 1993, by the State Committee for Cooperation and Investment (now the Ministry of Planning and Investment). The project had a lifespan of 50 years.
On November 15, 2013, the People’s Committee of Binh Thuan Province approved the transfer of capital and the new investor, Rạng Đông JSC. Shortly after, on December 2, 2013, Rạng Đông JSC requested to convert the land use purpose from sports to urban residential, with the aim of “investing in the construction and trading of villas, garden houses, townhouses, high-rise buildings, and auxiliary works”. In 2014, the People’s Committee of Binh Thuan Province accepted the proposal for this conversion, and Rạng Đông JSC announced the “cessation of golf course operations from April 1, 2014”
In the following years, Rạng Đông JSC continued to invest and construct numerous villas, high-rise buildings, and garden houses. Property prices in the project area increased by tens of times.
On March 1, 2023, the Deputy Chief of the Investigation Agency of the Ministry of Public Security, Lieutenant General Do Van Hoanh, signed Decision No. 09/QD-VP.CQCSDT to initiate a criminal case for “Violation of regulations on the management and use of state assets, causing waste and loss”, as stipulated in Clause 3, Article 219 of the Penal Code, in relation to the Phan Thiet Beach Urban Area project.
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