As reported by VTV News, the Hanoi People’s Procuracy has finalized the indictment against Vũ Thị Thúy (born in 1983), Chairwoman and CEO of Nhật Nam Real Estate Investment and Trading Joint Stock Company (Nhật Nam Company), along with 10 other defendants. They are charged with “Fraud to Appropriate Assets” and “Money Laundering.”
Singer Khánh Phương Not Subject to Criminal Prosecution
According to the indictment, Phạm Khánh Phương (singer Khánh Phương), who is married to Thúy, was asked by Thúy to act as the legal representative of Nam Nhật Khang Company and to conduct transactions involving SJC shares (Sông Đà 1.01 Joint Stock Company).
In reality, Mr. Phương did not participate in the management, operation, or capital mobilization of Thúy’s companies, nor was he aware of the illicit origins of the funds. Therefore, the investigative agency has decided not to pursue criminal charges against him.
Another of Thúy’s husbands, Mai Thanh Tùng, showed signs of complicity. However, as he was not present at his residence during the investigation, the agency has separated his case for further verification and handling.
Fraudulent Appropriation of Nearly 5,000 Billion VND
Vũ Thị Thúy, Chairwoman of Nhật Nam Company, faces charges of “Fraud to Appropriate Assets” and “Money Laundering.” The other ten defendants are charged with “Fraud to Appropriate Assets” as accomplices.
The ten accomplices include: two Deputy CEOs, Trần Thiện Tâm (born in 1990) and Trịnh Văn Tôn (born in 1984); and eight members of the company’s strategy board: Phạm Văn Tuyên (born in 1984), Lê Văn Hảo (born in 1987), Nguyễn Văn Đức (born in 1982), Nguyễn Công Sơn (born in 1975), Nguyễn Quang Đại (born in 1979), Nguyễn Văn Minh (born in 1974), Ngô Thị Quyên (born in 1976), and Nguyễn Anh Tuấn (born in 1972).
From 2020 to 2023, Thúy signed 43,314 investment cooperation contracts, raising 9,113 billion VND. Over 4,000 billion VND was used to repay principal on these contracts, while nearly 5,000 billion VND was misappropriated by Thúy and her accomplices for personal use.
After raising the funds, Thúy instructed the accountant to withdraw and transfer money from Nhật Nam Company’s account to her personal account. She also used over 120 billion VND to purchase real estate and invest in stocks under other people’s names, aiming to conceal the illicit origins of the funds.
During the investigation, authorities seized numerous properties linked to Thúy, including an apartment (unit 2007, The Prince building, 19 Nguyễn Văn Trỗi, Ho Chi Minh City) registered under Mr. Phương’s name. The seized assets include: 10 properties in Phú Quốc; 20 in Đắk Lắk; 24 in Thanh Hóa; 2 in Mỹ Đức District (Hanoi); and 6 in Tùng Thiện Ward (Hanoi).
Additionally, 72 bank accounts belonging to Thúy and her employees have been frozen, along with accounts of Nhật Nam Company and related entities, totaling over 3.2 billion VND. Transactions involving 800,000 SJC shares held by Lê Hà Phương and 10,000 SJC shares held by Nam Nhật Khang Company have also been suspended.
The Hanoi People’s Procuracy noted that the investigation revealed significant gaps in the licensing and management of businesses involved in capital mobilization, which facilitated the criminal activities. The Procuracy will recommend that relevant authorities implement measures to address and prevent such issues in the future.
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