On August 30, the Hanoi People’s Procuracy proposed to the Court of the same level to sentence Nguyen Thi Loan, former Chairman of the Board of Directors of Vimedimex Pharmaceutical Group JSC, to 36-42 months in prison and Tran Cong Tuyen, former Head of Infrastructure Management and Land Clearance in Dong Anh district, Hanoi, to 18-24 months in prison, both on charges of Violation of regulations on auction of assets.
Nguyen Thi Loan at the trial |
For the same charges, the Procuracy proposed sentences of 15-18 months probation for Nguyen Quang Hung, former deputy general director of Thanh Tri Real Estate Investment JSC and deputy general director of Vimedimex, and 12-15 months probation for Ta Thi Van, former general director of Bac Tu Liem Real Estate Investment JSC. The remaining seven defendants were given probationary sentences ranging from 12 to 30 months.
The representative of the Procuracy assessed the defendants’ behavior as dangerous to society and infringing upon the auction of assets. In this case, Nguyen Thi Loan played a leading role, using three companies she managed to participate in the auction and bid for the above-mentioned land lot.
According to the indictment, in 2020, the Hanoi People’s Committee decided to allocate 49,100 square meters of land in Co Duong village for project implementation. Of this, 16,100 square meters were allocated for auction of land use rights for housing.
As charged, Nguyen Thi Loan, the former chairman of Vimedimex Pharmaceutical Group, used three legal entities (including Bac Tu Liem Company, Thanh Tri Company, and My Dinh Company) to direct the participation in the auction of more than 16,000 square meters of land in the project of constructing technical infrastructure in Co Duong village. During the auction, these three entities colluded to bid according to a pre-arranged plan, allowing Bac Tu Liem Company to win the auction with a bid of over VND 326 billion, equivalent to over VND 20.1 million per square meter.
The prosecution determined the actual value of the land to be over VND 28.5 million per square meter, equivalent to over VND 462 billion. As a result, the defendants’ collusion to suppress land prices caused a loss of over VND 135 billion to the state budget.
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