The Hanoi People’s Court has decided to hold a mobile trial on March 6, related to the case of “inflating” land auction prices to up to 30 billion VND per square meter. The trial will take place at the Quang Tien Commune People’s Committee Hall (Soc Son District, Hanoi) to allow a large number of local people to attend. This move aims to serve as a warning, deterrence, and prevention of similar legal violations.
The six defendants, including Pham Ngoc Tuan (DOB: 1991, Dong Anh), Ngo Van Duong (DOB: 1994, Dong Anh), Nguyen Duc Thanh (DOB: 1992, Bac Ninh), Nguyen Thi Quynh Lien (DOB: 1981, Dong Anh), Nguyen The Trung (DOB: 1994, Dong Anh), and Nguyen The Quan (DOB: 1994, Dong Anh), are charged with violating regulations on auction activities.
According to the indictment, in November 2024, when they learned that the Thanh Xuan Partnership Auction Company was preparing to auction land in Dong Lai village, Quang Tien commune (Soc Son district, Hanoi), from November 26 to 29, 2024, the defendants colluded and pooled money to buy 58 land lots in the aforementioned auction.
The accused in the case. Photo: CACC |
The group agreed that from the first to the fourth rounds, they would bid according to a predetermined sequence and price set by Tuan. In the fourth round, if other participants bid higher than Tuan’s maximum price, the defendants would place abnormally high bids in the fifth round.
Subsequently, in the sixth round, they would refrain from bidding to deliberately fail the auction and force a re-auction.
The investigation results determined that 36 out of 58 land lots were subject to price manipulation by the group, with abnormally high bids ranging from 59,488,000 VND to 30,002,488,000 VND per square meter in the fifth round. In the sixth round, all six defendants refrained from bidding.
The defendants’ actions violated Article 9, Clause 5 of the Law on Auction of Assets, resulting in a total loss of nearly 420 million VND. This included a loss of over 252 million VND for the Thanh Xuan Partnership Auction Company and a loss of over 165 million VND for 230 individuals who purchased auction documents.
Prior to the trial, the defendants voluntarily compensated the Thanh Xuan Partnership Auction Company for their losses, amounting to more than 252 million VND.
T.Nhung
– 10:03 21/02/2025
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