Distribution Joint Stock Company Top One has just announced the conclusion of a criminal investigation into fraud and asset appropriation that occurred from 2015 to 2022 at Top One Distribution Joint Stock Company in Tuyen Quang province.
Specifically, on August 1, 2025, the Provincial Investigative Police of Tuyen Quang concluded their supplementary investigation and transferred the entire case file to the Provincial People’s Procuracy of Tuyen Quang for prosecution of the accused, including Dinh Van Tao, Nguyen Huu Kha, Nguyen The Trinh, Do Xuan Long, and Vu Thai.
These accused individuals are prosecuted for the crime of “Fraudulent appropriation of property,” as stipulated in Clause 4, Article 174 of the Criminal Code of the Socialist Republic of Vietnam.
According to the investigation results, from January 2015 to November 2015, while serving as the Chairman of the Board of Directors of Top One Distribution Joint Stock Company, located in Vi Xuyen district, Ha Giang province, Nguyen The Trinh, motivated by personal gain, colluded with Dinh Van Tao (former Chairman of the Board of Directors of Top One Distribution Joint Stock Company from December 2015 to April 2019) to falsify documents and inflate the chartered capital to establish a public company (Top One Distribution Joint Stock Company). They also listed the company’s shares (stock code TOP) on the stock exchange and offered them to the public… to illegally gain an exceptionally large amount of money.
The company listed and offered 25,350,000 shares with the code TOP on the stock exchange. These shares did not guarantee their actual value and were issued with the purpose of appropriating investors’ assets. The total amount appropriated reached over 64 billion VND.
The Provincial Investigative Police determined that the initial investors (F1) of Top One Company are the victims in this case.
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