On September 30th, the Hai Phong City People’s Court sentenced Nguyen Thi Dung (44 years old, known as the 2nd Runner-up of the 2022 Miss Global Vietnamese Businesswoman pageant under the stage name Ha Linh) to 18 years in prison for fraud and asset misappropriation.
According to the indictment, Nguyen Thi Dung served as the Director and legal representative of HD Land Finance and Real Estate Group Co., Ltd. (HD Land for short), headquartered in Le Thanh Nghi Ward, Hai Phong City.
Nguyen Thi Dung, also known as Ha Linh, was sentenced for fraudulent activities. Photo: Hai Phong Newspaper.
Despite neither Dung nor HD Land being shareholders or authorized to raise capital for the Republic Commercial Center and Market project (Tran Nhan Tong Ward, Hai Phong City, developed by TNR Stars Chi Linh) and the Stars Dam Thuy project in Dong Trieu City (formerly), Dung fabricated information to defraud funds for personal expenses and debt repayment.
In November 2021, Dung hired Ms. N.T.B.P. as an office clerk and cashier for HD Land (Ms. P. resigned in May 2022).
In late January 2022, Dung informed Ms. P. that HD Land had signed a cooperation agreement with the developers of the TNR Stars Chi Linh and Stars Dam Thuy projects, authorizing HD Land to raise capital, find partners, and distribute land plots at the Republic Commercial Center and Market at the developer’s original price upon project launch.
Trusting Dung’s claims, Ms. P. transferred VND 2.95 billion to Nguyen Thi Dung and signed a receipt dated September 18, 2022, stating that HD Land Finance and Real Estate Group (represented by Nguyen Thi Dung) received VND 2.95 billion from Ms. N.T.B.P. for priority registration to purchase land plots in the project. The agreement period was from the receipt date until December 31, 2022. HD Land was to provide exact plot locations and prices for Ms. P.’s confirmation upon official project launch. If the project was not launched by the deadline, HD Land was to refund 100% of the amount.
However, Dung failed to honor the agreement with Ms. P., instead using the funds for debt repayment and personal expenses.
From April to June 2023, Ms. P. repeatedly demanded repayment, but Dung refused, leading Ms. P. to file a complaint with the Hai Duong Provincial Police Investigation Agency.
In a second case, Dung defrauded over VND 2.1 billion. In early 2022, she falsely claimed direct access to purchase land at the developer’s original price for the TNR Stars Chi Linh and Stars Dam Thuy projects. After showing the land to victim D., Dung stated the projects would launch in June 2022, requiring a deposit of VND 100 million per plot.
Trusting Dung’s claims, victim D. transferred a total of VND 2.172 billion to Dung for seven land plots in the projects.
However, after receiving the funds, Dung did not contact the developers to secure the plots, instead using VND 890 million for debt repayment and VND 1.282 million for personal expenses, including clothing, cosmetics, phone credit, rent, and other costs.
In April 2023, Dung informed victim D. that the projects were launching at VND 46–50 million per square meter. Victim D. declined to purchase and demanded a refund, but Dung refused. Victim D. then filed a complaint with the Hai Duong Provincial Police Investigation Agency.
After reviewing the prosecution’s recommendations and case details, the court sentenced Nguyen Thi Dung to 18 years in prison and ordered her to repay VND 2.95 billion to Ms. P. and VND 2.172 billion to Ms. D.
Sunshine Group Surges to No. 2 Market Position, Behind Only Vinhomes, Projecting Q3 Profits of Nearly VND 1.5 Trillion and Targeting Annual Earnings of VND 14 Trillion
Following the successful merger with Sunshine Homes, Sunshine Group has not only secured its position as the second-largest player in the real estate market, trailing only behind Vinhomes, but has also made significant strides toward achieving its ambitious goal of an 18-fold increase in profit by 2025.
Sky-High Apartment Prices: Why Costs Keep Climbing and How to Curb Them
Soaring apartment prices in Hanoi and Ho Chi Minh City, with many projects reaching 150-300 million VND per square meter, have sparked concern. Experts argue that simply increasing supply won’t automatically lower prices, advocating for a multi-pronged approach to address this escalating issue.
Market Pulse 30/09: Capital Flows Return as VN-Index Experiences Deep Correction
After a sharp decline at the start of the afternoon session, the market gradually recovered, closing near the reference level. However, the indices still ended the day in negative territory. The VN-Index closed at 1,661.7 points, down nearly 5 points, while the HNX-Index settled at 273.16 points, shedding 2 points.
Dragon Capital Group Joins Taseco Land’s Private Placement, Emerging as a Major Shareholder
On September 24th, Dragon Capital-managed funds announced their new status as major shareholders in Taseco Land (HOSE: TAL), a leading real estate investment company. This milestone was achieved through a combination of acquiring shares from a private placement and purchasing additional shares on the open market.
Vibrant Real Estate Market with Sun Group’s Urban Development in South Hanoi
On September 27th, nearly 800 customers and consultants flocked to the launch event of Flora Avenue, a subdivision within the Sun Urban City megacity. This overwhelming response further solidified the prestige of Sun Group’s real estate brand in South Hanoi.
