Investigation into Financial Misconduct: A Look into Mr. Cao Tien Doan’s Business Ventures and Legal Troubles
On the evening of August 28, 2025, the Investigative Police Agency of Thanh Hoa Provincial Public Security launched an urgent search of the workplace of Mr. Cao Tien Doan, investigating alleged violations of accounting regulations with serious consequences, as outlined in Article 221 of the 2015 Criminal Code.
Mr. Doan, born in 1960, is a resident of Sam Son, Thanh Hoa Province. He is known for his business acumen and diverse ventures, including his role as Chairman of the Members’ Council and General Director of Dong A Real Estate Group Joint Stock Company (commonly known as Dong A Group).
Mr. Cao Tien Doan
In addition to his business endeavors, Mr. Doan has held prominent positions such as a member of the Vietnam Chamber of Commerce and Industry (VCCI) Executive Committee for the 2015-2020 term, Chairman of the Thanh Hoa Business Association, a member of the Economic and Budget Committee of the Thanh Hoa Provincial People’s Council, and a member of the Executive Committee of the Vietnam Football Federation’s ninth term.
Mr. Doan is also known as “Bầu Đoan,” the Chairman of Dong A Thanh Hoa Football Club, reflecting his passion for sports and community involvement.
Dong A Group’s Billion-Dollar Projects
Established in 1996, Dong A Group has undertaken several key projects in Thanh Hoa Province, with a total investment of approximately VND 10,000 billion. These projects include:
- New Urban Area by Hac River (37 ha, VND 1,980 billion)
- Dong A Riverside Apartment Building (2 ha, VND 650 billion)
- Dong A Office Building – Hotel (1,600 m2, VND 250 billion)
- Dong A Sam Son Sea Eco-Urban Area (60.46 ha, VND 5,000 billion)
- Truong Le Mountain Eco-Cultural Tourism Area (146 ha, VND 3,000 billion)
- Quang Tan New Urban Area (15 ha, VND 350 billion)
One notable project is the New Urban Area by Hac River, for which Dong A Group filed a lawsuit against the People’s Committee of Thanh Hoa City in early 2024 regarding land clearance and infrastructure issues. The group demanded the handover of 196 resettlement land lots, equivalent to 3.5 hectares, related to the project.
Masterplan of the New Urban Area by Hac River
The project has undergone several adjustments to ensure compliance with the master plan for the North Hac Bridge area in Thanh Hoa City and to create a modern urban area with improved infrastructure and living conditions for residents.
The New Urban Area by Hac River project, covering 37 hectares, involved more than 1,000 households from three wards: Dong Tho, Truong Thi, and Nam Ngàn. The total compensation for site clearance was over VND 550 billion.
In July 2018, Dong A Group handed over 194 business land lots to the People’s Committee of Thanh Hoa City for resettlement purposes. These lots were equipped with complete technical infrastructure.
In 2019, the Chairman of the People’s Committee of Thanh Hoa Province directed the People’s Committee of Thanh Hoa City to supplement the land fund for the project and deliver it to Dong A Group by November 30, 2019. However, despite requests from Dong A Group, the People’s Committee of Thanh Hoa City did not provide a response, leading to the lawsuit, which was later temporarily suspended.
Among Dong A Group’s projects, the largest in scale is the Dong A Sam Son Sea Eco-Urban Area, which has faced delays in implementation. Approved for adjusted planning in April 2017, the project is located in Truong Son and Quang Vinh wards, Sam Son City, Thanh Hoa Province, spanning approximately 60.46 hectares.
The project includes approximately 256 villas, 1,000 hotel rooms, and commercial and entertainment services, catering to nearly 10,000 people. With a total investment of VND 3,800 billion, the project is divided into two phases: the first phase focuses on technical infrastructure development from 2018 to 2021 with an estimated investment of VND 1,200 billion, and the second phase involves architectural construction from 2020 to 2026 with an investment of VND 2,600 billion.
In July 2018, the People’s Committee of Thanh Hoa Province handed over 125,577 square meters of land in the first phase and an additional 45,151.5 square meters in the second phase to Dong A Group for the project’s implementation. However, by early 2024, the project had only progressed to the stage of land leveling and sea embankment piling.
In December 2023, Dong A Group used a portion of the Truong Le Mountain Eco-Cultural Tourism Area project as collateral for a loan from Vietcombank’s Thanh Hoa branch, demonstrating the group’s financial strategies.
Mr. Cao Tien Doan’s Vast Wealth and Luxurious Assets
Mr. Doan is known for his vast wealth and luxurious assets, including his statement about purchasing a helicopter for taxi services, which caused a stir on social media. He also owns the “Bạch Dinh” palace, located on a 50,000 square meter site in Quang Chau, Sam Son, Thanh Hoa.
Within the palace grounds, Mr. Doan has constructed a private airport and an eco-resort with walking paths, an electric car route, a swimming pool, and a tennis court. The highlight of the palace is the traditional wooden house dedicated to Princess My Chau.
Mr. Doan is also known for his collection of vintage cars, mostly Mercedes-Benz models, ranging from the 1950s Mercedes 190 to the luxurious S55 AMG. In April 2023, Mr. Doan and his wife pledged a Mercedes car with Thanh Hoa license plates at Vietcombank’s Thanh Hoa branch.
Aside from Dong A Group, Mr. Doan is also the standing member of Thanh Hoa Businessman Joint Stock Company, founded in March 2018 and headquartered at the Dong A Building in Thanh Hoa City.
Mr. Doan’s passion for football led him to establish the Dong A Thanh Hoa Football Club in 2020, with a charter capital of VND 36 billion. The club successfully defended its championship title in the 2023/2024 season, earning the right to participate in the C2 Asian Cup and the C1 Southeast Asian Cup.
Police Raid the Home of Cao Tien Doan, Renowned Businessman and Football Manager of Thanh Province.
The Thanh Hoa provincial police have released initial information regarding the search of Cao Tien Doan’s residence. Mr. Doan is a prominent businessman and football manager in the region.
The Billionaire Behind the Scenes: Unveiling the Thousand-Billion Projects, the 5-Hectare ‘White House’, and the Football Club Ownership of Cao Tien Doan, Chairman of Dong A Corporation
“Billionaire businessman Cao Tien Doan, Chairman of Dong A Group, is a powerhouse in Vietnam’s business landscape. With a portfolio boasting a string of billion-dollar projects, he also owns the opulent ‘Bach Dinh’ palace, sprawled across 5 hectares. But it’s his investment in the Thanh Hoa province football club that has captured the imagination of many. A true titan, Doan’s English-language prowess and business acumen are legendary, and his writing skills are said to be unmatched.”
The Fallen Tycoon: How Trịnh Văn Quyết’s Downfall Ensnared His Inner Circle
“It is with deep regret that despite my best efforts over a twenty-year business career, I could not change the fact that many of my loved ones, friends, and colleagues who trusted me ended up in legal troubles,” Mr. Quyet choked out in his final statement.
Dong A Group sues Thanh Hoa City’s People’s Committee for land dispute
The Thanh Hoa Provincial Court recently announced the handling of a case involving an administrative dispute between the plaintiff, Dong A Group Limited Liability Company (Dong A Group), represented by Mr. Cao Tien Doan, CEO, located at 1A Nguyen Hieu, Le Loi Boulevard, Dong Huong Ward, Thanh Hoa City, and the defendant, Thanh Hoa City People’s Committee, with the related rights and obligations held by Thanh Hoa Provincial People’s Committee.
