Image: Thai Nguyen Police Department
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On December 1, 2025, the Investigative Police Agency of Thai Nguyen Province announced that they are investigating a case involving Tran Ngoc Sinh, born in 1985, residing in Ward 4, Quyet Thang District, Thai Nguyen Province. The investigation pertains to charges of “Fraudulent Appropriation of Property” and “Tax Evasion” that occurred between 2021 and 2023 within the province.
According to police records, on January 12, 2021, Tran Ngoc Sinh established Vietnam Real Estate Joint Investment Corporation, serving as its CEO and legal representative.
To execute his fraudulent scheme, Sinh promoted a high-yield real estate joint investment and management program, offering monthly returns and attractive incentives to lure investors. He encouraged them to sign investment and management contracts with his company and transfer funds to him.
However, after receiving investments, Sinh misappropriated the funds for personal expenses, debt repayment, and to pay returns to earlier investors using money from new contributors.
Through this scheme, from January 2021 to April 2023, Tran Ngoc Sinh signed 60 investment and management contracts with 35 investors in Thai Nguyen Province, defrauding them of over 6.5 billion VND. Currently, he is unable to repay the funds.
To aid the investigation, prosecution, and trial, the Investigative Police Agency of Thai Nguyen Province has publicized Sinh’s fraudulent methods, urging the public to provide information or report any related criminal activities.
Suspect Tran Ngoc Sinh. Source: Thai Nguyen Police Department
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Further investigation reveals that Vietnam Real Estate Joint Investment Corporation was established in January 2021, primarily engaged in real estate trading, land use rights, and leasing. Its registered capital is 20 billion VND, with founding shareholders including Tran Ngoc Sinh (60%), Nguyen Thi Nhat Le (15%), Nong Thi Le (15%), and Nguyen Duy Duong (10%).
In March 2025, the company was renamed An Binh Beautiful Home Interior Design Company Limited.
Source: Business Registration Certificate
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– 12:20 PM, December 2, 2025
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