According to the An Ninh Thủ Đô newspaper, the Hanoi People’s Procuracy is prosecuting Vũ Thị Thúy (born in 1981, residing in Yên Hòa Ward, Hanoi) and her accomplices. The Hanoi Police Department’s Investigation Agency has charged them with “Fraudulent Appropriation of Property and Money Laundering.”
In 2019, Vũ Thị Thúy established Nhật Nam Real Estate Investment and Trading Joint Stock Company (Nhật Nam Company).
To raise funds for personal expenses, Thúy fabricated a false advertising campaign, portraying her company as a nationwide “real estate investment empire” with vast assets used as collateral for business partnerships. She leveraged social media, websites, and a network of collaborators to falsely claim that Nhật Nam invested in numerous real estate projects, restaurants, hotels, and financial ventures. Prominent individuals were recruited to endorse these claims, bolstering investor confidence.
The company promised exorbitant returns of 7–8% monthly, equivalent to 168–192% over two years, along with attractive incentives tied to investment size. Thúy assembled a “Strategy Board” comprising Trần Thiện Tâm, Trịnh Văn Tôn, Phạm Văn Tuyên, Nguyễn Văn Đức, Nguyễn Công Sơn, Nguyễn Văn Minh, Nguyễn Anh Tuấn, Nguyễn Quang Đại, Lê Văn Hảo, and Ngô Thị Quyên. Despite lacking capital contributions or business insights, these members actively promoted false information, hosted seminars, trained sales teams, and established regional offices to attract investors.
Thúy directed the creation of fictitious contracts, issued fake strategic shareholder certificates, and transferred “phantom profits” to these members to publicly showcase, thereby fostering false trust and attracting more investors. From 2020 to 2023, Thúy and her accomplices signed 43,314 investment contracts, raising a total of 9.113 trillion VND. Of this, 4.144 trillion VND was used to repay principal amounts to some investors to sustain a Ponzi scheme, while 4.968 trillion VND (from 39,814 contracts involving 13,980 victims) was misappropriated for personal use.
To conceal the illicit origins of the funds, Thúy instructed accountants to transfer money from the company’s accounts to personal accounts, which was then used to purchase real estate and stocks valued at approximately 120 billion VND, legitimizing the illegal funds. This conduct constitutes the crime of Money Laundering under Article 324 of the Penal Code.
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