After a prolonged deliberation period, on May 21, the People’s Court of Long An province sentenced Le Minh Luan (38, from Phuoc Vinh Tay commune, Can Giuoc district), former deputy director of a branch of a bank in Can Giuoc district, to 20 years in prison for “Embezzlement of Assets.”
According to the indictment, on December 5, 2023, Luan gave an employee VND 40 million and instructed them to account for a deposit of VND 150 million into another person’s account so that this person could transfer the money back to Luan. Luan promised to reimburse the branch’s funds.
In just one day, Luan instructed the employee to fictitiously account for a total of over VND 13.9 billion into his account on five separate occasions.
During the investigation, the authorities determined that Luan used VND 2.2 billion to pay off debts to multiple individuals and gambled away VND 10.5 billion through online games. After committing the crime, Luan returned VND 3.6 billion to mitigate the consequences.
In this case, although they did not benefit financially, Truong Thi Khuyen and Do Hoang Oanh, who aided Luan in the fictitious accounting, were sentenced to 15 years and three years (suspended) in prison, respectively.
The Virtual Capital Distribution Company’s Complaint Rejected
The Supreme People’s Procuracy has officially rejected all complaints from Top One Distribution JSC (UPCoM: TOP), upholding the indictment of the company’s former leaders for fraud and embezzlement. The once-inflated enterprise, with a purported capital of over VND 250 billion, now faces a comprehensive crisis, with its stock stuck at VND 1,000 per share and trading allowed only once a week.
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In 2024, Vinhomes achieved impressive sales figures, with their Vinhomes Golden Avenue project raking in a staggering 4.2 trillion VND in revenue from inventory sales.
The Great Mid-Year Sale: Slashing Prices, Not Quality
The financial report submitted to the Hanoi Stock Exchange reveals an interesting development. Trungnam Group, a construction and investment company, reported a pre-tax loss of VND 25 billion for the first half of 2024, a significant improvement from the VND 1 trillion loss in the same period last year. Despite a post-tax loss of VND 113 billion, the company is showing signs of a robust recovery.
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The Tesla Cybertruck, a formidable electric beast, recently underwent a fascinating transformation. Its proud owner, eager to maintain its pristine condition, embarked on a journey to revive their cherished vehicle. With the odometer reading almost 42,000 km, the decision was made to reset and rejuvenate. And thus, the story of a revitalized Cybertruck begins, with its mileage clock turning back to a pristine 0.
The Perennial Borrower: Nhựa Việt Thành’s Spiraling Debt Saga
The Board of Directors of Vietnam Plastics Production and Trading Joint Stock Company (HNX: VTZ) has approved a resolution to secure a VND 100 billion working capital loan, including issuing guarantees and opening L/Cs for its business operations with SeABank – Thu Duc Branch.
