Real Estate Company Director in Binh Duong Arrested

Nguyễn Đức Trung, the Director of Bảo An Group Real Estate Joint Stock Company, has been arrested and detained for investigation into the offense of "Fraudulent misappropriation of property".

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On the 24th of February, the Criminal Investigation Agency of Binh Duong Province Police announced that they have decided to initiate criminal proceedings, prosecute and issue an arrest warrant for Nguyen Duc Trung (born in 1984, from Thanh Hoa province) to investigate the act of “Deception to Misappropriate Property”.

Nguyen Duc Trung is the Director of Bao An Group Real Estate Joint Stock Company, located in Dinh Hoa Ward, Thu Dau Mot City, Binh Duong Province.

Nguyen Duc Trung (wearing black) arrested for investigation into the act of “Deception to Misappropriate Property”.

According to the investigation documents, Nguyen Duc Trung was authorized and agreed to sell land to Mr. B. By March 15, 2022, Nguyen Duc Trung terminated the cooperation with the landowner.

The termination of the cooperation was mutually agreed upon by both parties without any disputes. However, on March 18, 2022, Trung still provided deceptive information to make Mr. B trust and sign a land purchase contract, receiving a total payment of 1.425 billion VND.

Prior to being reported, Nguyen Duc Trung had returned over 1 billion VND to Mr. B. The remaining amount is now beyond his ability to repay.