On the afternoon of September 17th, the Ho Chi Minh City People’s Court resumed the trial of the case involving the acquisition of four prime land plots belonging to the Southern Food Corporation (Vinafood II).
According to the indictment, Huỳnh Thế Năng (former CEO of Vinafood II) and Nguyễn Thọ Trí (former Deputy CEO) colluded with Đinh Trường Chinh (former Chairman of the Board of Directors of the Housing Development and Trading Joint Stock Company) to transfer land plots at 33 Nguyễn Du and 34, 36, 42 Chu Mạnh Trinh (former District 1, Ho Chi Minh City) in violation of regulations, bypassing public auctions. This act caused a loss of nearly 970 billion VND to the state.
The “buy-and-sell” scheme within days
To conceal the scheme, Chinh used Hoàng Ngọc Cẩm Hồng (his cousin, Canadian citizen) as an intermediary. On January 30, 2016, Chinh, representing Việt Hân Company, transferred 99% of the capital contribution in Việt Hân Sài Gòn Company to Ms. Hồng for 792 billion VND. Just three days later, Ms. Hồng signed a contract to resell it to Winter Real Estate Joint Stock Company for 1,683 billion VND.
Defendant Đinh Trường Chinh in court |
The price difference of 891 billion VND was quickly withdrawn, transferred through multiple accounts, and then returned to Việt Hân Company and Đinh Trường Chinh himself. Investigative evidence shows that Ms. Hồng lacked the financial capacity to execute these massive transactions, and the blank signing of documents and payment authorizations were prearranged.
Within just 33 days, Chinh transformed the land use rights of the four prime plots from Vinafood II into nearly 1,000 billion VND in profits.
Surprising evidence found in the “tycoon’s” home
According to case files, during a search of Đinh Trường Chinh’s residence, investigators seized numerous documents, electronic devices, and mobile phones. Notably, they also found a gold-colored metal rod, approximately 90 cm long, with a pointed tip and handle, resembling a sword.
 Defendant Đinh Trường Chinh in court |
Additionally, six boxes of documents, seven USB drives, a laptop, and numerous financial transaction records were sealed for further investigation.
According to the Ho Chi Minh City People’s Procuracy, the use of “shell” entities and intermediaries to legitimize documents was a sophisticated and premeditated scheme. Đinh Trường Chinh not only acted as an accomplice to Vinafood II’s leadership but also was the primary beneficiary of this illicit transaction.
The defendants’ actions were deemed to have severely infringed upon state assets, undermined transparency in public land management, and set a negative precedent for the investment environment.
The trial panel is continuing to question and clarify the responsibilities of each defendant and related parties before delivering a final verdict.
Trần Thái
– 14:59 17/09/2025
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