The Shady Chairman: Unveiling the Deceptive Tactics of a Bottled Alkali Water Tycoon

Prosecution and Prosecution

On June 23, news from the Ministry of Public Security said that the Internal Political Security Department (Ministry of Public Security) has just decided to prosecute the criminal case of “Fraud to appropriate property” occurring at Joint Stock Company GMT and related organizations, in Hanoi and other provinces and cities. and transferred the case to the Investigation Security Agency (Ministry of Public Security) to investigate according to its competence.

Previously, on June 21, the Investigation Security Agency of the Ministry of Public Security issued and executed a decision to prosecute the accused, an arrest warrant for the accused to detain, a warrant to search the residence and workplace of Sy Anh Tuyen (born in 1976, residing in Dong Yen commune, Quoc Oai district, Hanoi). ), Chairman of the Board of Directors of Joint Stock Company GMT, and related subjects to clarify the act of “Fraud to appropriate property” according to the provisions of Clause 4, Article 174 of the Penal Code.

Based on the documents and evidence collected, the competent authorities determined that since 2019, Sy Anh Tuyen, together with Nguyen Thi Hong Nhung and Tran Tri Trung and some other individuals, established and operated Joint Stock Company GMT and many other legal entities in the “GMT ecosystem”. , operating in a disguised form of multi-level business model.

Through systematic fraudulent tricks, the subjects have spread false information about GMT’s financial scale, such as announcing a capital source of up to 42,000 billion VND; Exaggerating business performance and committing to high profits, paying periodic interest on a weekly basis to investors in the system; Promising to deploy the installation of bottled alkaline water production systems at member companies; Instruct investors to transfer money to personal accounts instead of the company’s identified accounts; Not fulfilling the capital contribution obligation according to the Company Charter and the contents of the Business Registration Certificate that has been granted.

After receiving money from investors, Sy Anh Tuyen and related subjects did not use this money for production and business activities as committed, but appropriated and used it for personal purposes.

The prosecuting agency assessed that the acts of Sy Anh Tuyen and the subjects caused property damage to many people and had complicated effects on security and order and the investment and business environment in many localities across the country.

Portrait of the Chairman who “inflated” the company’s virtual capital to VND 42,000 billion

Joint Stock Company GMT was originally named Joint Stock Company CNA, established in January 2019, mainly operating in the field of wholesale trading of natural mineral water or other bottled purified water.

Currently, the company’s head office is located in Om village, Dong Thuong village, Dong Yen commune, Quoc Oai district, Hanoi.

At the time of its establishment, the company had a charter capital of 30 billion VND, in which Mr. Sy Anh Tuyen contributed 9 billion VND, holding 30% of the charter capital, and two other founding shareholders were Tran Anh Tuyet contributing 12 billion VND, holding 40% of the charter capital and Chu Ngoc Khanh contributing 9 billion VND, holding the remaining 30%.

In May 2022, the company increased its capital from 30 billion to 250 billion VND, unclear shareholder structure.

On its website, GMT Water states that the company specializes in providing biological water solutions: from high-end drinking water, alkaline mineral water, clean water for living, industrial wastewater, and good water for agriculture – for crops and livestock.

GMT sets a target of installing 41,666 sets of alkaline mineral water processing machines nationwide. The company has 2 products, namely Alkaline Mineral Drinking Water and CNA Alkaline Ion Water

In addition to Joint Stock Company GMT, Mr. Sy Anh Tuyen is the General Director of Commercial Services and Trading Development Joint Stock Company Khanh An. Khanh An Company operates in the field of functional food business, wholesale of other foods. The company was established in 2018 with a capital of 9 billion VND, Mr. Tuyen contributed 2.7 billion VND, holding 30% of the charter capital.

Mr. Tuyen also holds 60% of the charter capital of GMT CNA Joint Stock Company, which has the same head office as Joint Stock Company GMT. GMT CNA Joint Stock Company, with Ms. Sy Thi Ngoc Ha as Director and legal representative, has the main business activity of producing non-alcoholic beverages, mineral water. Charter capital is VND 7.7 billion.