Former Vimedimex Chair reviews and signs interrogation minutes
As reported by Tien Phong, the trial of defendant Nguyen Thi Loan, former Chair of Vimedimex JSC, and her accomplices has been temporarily adjourned, according to the Hanoi People’s Court, and will resume on August 30.
Previously, in April, the trial was opened but the court returned the case file, requesting the investigation agency to verify the signature of defendant Nguyen Thi Loan and verify documents related to investigator Bui Duc Hieu; re-examine the actions and offenses of defendant Tran Cong Tuyen; consider the responsibility of several officials from state management agencies related to the land auction process; re-evaluate the basis for the issuance of the appraisal certificate by VNG Company; and re-examine the actions and offenses of defendants Bui Thanh Huyen and Nguyen Thi Cam Le.
Ms. Nguyen Thi Loan. |
In June 2024, the Hanoi Police Investigation Agency issued a supplementary investigation conclusion stating that defendant Nguyen Thi Loan denied any involvement in the land auction in the southeast of Co Duong village (Tien Duong commune, Dong Anh district) and thus, committed no wrongdoing.
The supplementary conclusion also determined that investigators Nguyen Quoc Dung, Bui Duc Hieu, and Ta Bien Cuong conducted the interrogation of defendant Loan.
Additionally, the supplementary conclusion revealed that the investigation agency also worked with four lawyers from Vuong Nguyen Associates Law Company and Truong Long Giang Law Office. As a result, all four lawyers confirmed their participation in the interrogation sessions of defendant Loan. The signatures and writing under the defense counsel section in the interrogation minutes dated November 18, 2021; November 26, 2021; and December 27, 2021, belong to these lawyers. “After the interrogation, Ms. Loan reviewed the interrogation minutes and signed to confirm,” the conclusion stated.
Based on the collected evidence and the results of working with the lawyers who defended Ms. Loan during the investigation phase, the Hanoi Police Investigation Agency determined that the interrogation minutes and records made by the investigators were ‘not tampered with.’
Regarding the request to verify information at VNG Vietnam Valuation LLC, the supplementary conclusion stated that on January 28, 2022, VNG Vietnam signed a contract with the Hanoi City Asset Valuation Council for Litigation to appraise the land value of a 16,182.19 sq. m plot in the southeast of Co Duong village, Tien Duong commune, Dong Anh district. The company surveyed prices in nearby areas, conducted interviews, and took photos of comparable properties during the survey. VNG Vietnam provided the survey and interview results to the Hanoi City Asset Valuation Council for Litigation. The company conducted the land valuation process objectively and in compliance with the law.
As for the request to further investigate three defendants: Nguyen Thi Cam Le, Bui Thanh Huyen, and Tran Cong Tuyen, the investigation agency confirmed that they maintained their original testimonies. Therefore, the original charges against these three defendants are maintained.
Following the supplementary conclusion, the Hanoi People’s Procuracy assessed that the content was sufficient and clear, and maintained the original indictment.
|
Ms. Nguyen Thi Loan and her accomplices. |
Former Vimedimex Chair instructed subordinates to collude to ‘suppress’ land prices
According to the indictment, in 2020, the People’s Committee of Dong Anh district approved the plan for land auction on the locality and assigned the Project Management Board for Construction Investment of the district to organize the land auction. The Hanoi People’s Committee also decided to allocate 49,100 sq. m of land in Co Duong village, Tien Duong commune, to Dong Anh district for project implementation. Of this, 16,100 sq. m of land was allocated for housing land auction.
The Procuracy stated that defendant Tran Cong Tuyen, Head of the Infrastructure Management and Clearance Division of the district, ‘colluded’ with Hanoi Valuation and Investment Joint Stock Company (VVAI) to determine the land value at VND 504 billion and requested to reduce the land price to around VND 300 billion.
Defendant Nguyen Thi Cam Le, then an official of the Hanoi Land Management Bureau, failed to thoroughly examine the project dossier and did not verify the assets for comparison, thus accepting the price offered by VVAI. Meanwhile, Bui Thanh Huyen, deputy head of the Land Management Bureau, did not conduct proper inspections, resulting in a starting price for the land auction of only VND 17.6 million per sq. m, which was lower than the actual value.
Regarding Nguyen Thi Loan, she instructed her subordinates to prepare project dossiers and ‘colluded’ with units to ensure that three companies under her control were eligible to participate in the land auction.
To ensure winning the auction at a low price, she further instructed her subordinates to bid in the following manner: In the first round, all three companies offered the starting price of VND 18.2 million per sq. m; in the second and third rounds, they offered VND 19.2 million and VND 20.2 million per sq. m, respectively; and in the fourth round, they stopped bidding and let the auction unit organize a lottery to select the winning company.
Following this plan, the Bac Tu Liem Housing Development Joint Stock Company – one of the three “shell” companies of Ms. Loan – won the auction at VND 20.2 million per sq. m, with a total land value of VND 326.8 billion.
On December 30, 2020, this company paid the full amount and was handed over the land by the People’s Committee of Dong Anh district to implement the housing construction project. Subsequently, Ms. Loan sold the land at VND 86.3 million per sq. m, causing a loss of VND 135 billion to the state budget.
Hoang Cu
Land price manipulation tactics in Dong Anh by Chairman Vimedimex
Vimedimex Chairman Nguyen Thi Loan has been accused of using various tactics to win a bidding for land in Dong Anh at only 20.1 million VND/m2, but selling it at a much higher price of 86.3 million VND/m2.
Binh Dinh expects to earn around 5,000 billion from land auctions in 2024
Bình Định Province is planning to auction off a series of land funds in 2024, with an estimated revenue of nearly 5,000 billion VND.
Hai Phong rejects adjustment of 2 projects at Quan Mau traffic junction
PG Investment and Construction Joint Stock Company proposes a height adjustment in the planning, increasing from 9 to 21 floors for 2 projects that the company won in the auction. However, the People’s Committee of Hai Phong City did not approve the request…
