Former Finance Company Employee Arrested for Fraud and Embezzlement of Nearly $430,000

"During her tenure, Kiều found herself entangled in a web of financial endeavors. She embarked on a journey of assisting others with their credit card and loan deadlines, seeing it as an opportunity to bolster her income. To fuel this venture, she turned to personal loans from her inner circle, only to find herself ensnared in a labyrinth of debt, unable to repay the borrowed funds."

0
46

According to the Da Nang City Police, the Investigative Police Agency has issued an indictment and arrest warrant for Nguyen Thi Thuy Kieu (46), a resident of Thanh Khe Dong Ward, Thanh Khe District, Da Nang City, and currently residing in Ward 15, Tan Binh District, Ho Chi Minh City. Kieu has been charged with fraud and appropriation of assets.

Initial investigation results indicate that from 2013 to 2018, Kieu worked for Finance Company P. in Da Nang City. In August 2018, she moved to a local bank branch as a sales director until she was dismissed on January 27, 2022.

During her tenure at Finance Company P., Kieu engaged in card and loan refinancing for customers to earn additional income. To fund this activity, she borrowed money from relatives and friends, which she then used for personal purposes, resulting in a loss of repayment ability.

The Investigative Police Agency of Da Nang City Police issues indictments and arrest warrants for Nguyen Thi Thuy Kieu.

For instance, Ms. Nguyen Thi KL, a close friend of Kieu since college, trusted and lent Kieu money multiple times from 2013 to 2018 for bank refinancing and business purposes. Initially, Kieu’s business was successful, and she repaid the principal and interest to Ms. L in full. However, in 2015, Kieu suffered significant losses from refinancing loans and credit card debts of her clients. She then provided false information to Ms. L about bank refinancing and concealed her losses, continuing to borrow money from Ms. L on multiple occasions (the exact amount is unknown as cash was involved). Specifically, on October 23, 2018, Kieu borrowed 2 billion VND from Ms. L, and both parties signed a receipt. As of now, Kieu has not repaid this amount to Ms. L.

According to Kieu’s statement, the aforementioned money was used for real estate, stock, and foreign currency investments through electronic trading floors, resulting in total losses.

In another case, Mr. Thuy Chau Q, introduced to Kieu by Ms. L, lent Kieu a total of 6.168 billion VND multiple times between 2017 and 2022. Kieu used this money for business and repayments to other lenders, ultimately losing the ability to repay Mr. Q.

The investigative agency also identified two additional cases where Kieu defrauded a colleague at Finance Company P. of over 1.103 billion VND and a high school friend of more than 635 million VND.

Based on the collected evidence, the Investigative Police Agency of Da Nang City Police concluded that Nguyen Thi Thuy Kieu had deceived and borrowed over 9.9 billion VND from victims, using it for personal purposes that resulted in losses and an inability to repay. Her actions constitute the crime of “Fraudulent Appropriation of Assets” as stipulated in Clause 4, Article 174 of the 2015 Criminal Code, amended and supplemented in 2017.

The case is currently under further investigation by the Investigative Police Agency of Da Nang City Police.

You may also like

Tracodi (TCD) earns 163 billion VND profit in 2023

Throughout the year 2023, Tracodi achieved a consolidated net revenue of VND 1,784.5 billion and a post-tax profit of VND 163.3 billion.

Building Peace earns over one hundred billion in Q4 2023, breaks four consecutive quarters of losses, HBC stock soars in January 30th session.

As of December 31, 2023, Hòa Bình Construction continues to incur a cumulative loss of nearly 2,900 billion Vietnamese dong.

Surging Profits from Associated Joint Venture, Nam Long (NLG) Reports After-Tax Profit of over 800 billion VND in 2023

According to NLG, the primary revenue for the entire year came from the sale of houses and apartments, from two major projects Izumi and Southgate. Additionally, in the third quarter, NLG also had the Mizuki project, which was a significant handover project.

Couple Charged after Declaring a Pool Worth Over 49 Billion VND

With hundreds of participants, our organization is known for hosting multiple rope jumping events. However, due to financial difficulties, the owners of the organization have announced their inability to cover the costs totaling over 49 billion VND.

Big 4 Real Estate Giant Selling Prime Land Lots in Beautiful Da Nang City on the Eve of Tet Holiday

A series of prime real estate properties situated on major roads in the cities of Danang and Quang Nam are being auctioned off by Agribank to recover outstanding debts. These land plots are owned by real estate tycoons.