On November 1, information from Thai Hoa Town Police (Nghe An), the unit has just initiated a case, prosecuted the accused, and temporarily detained Nguyen Trong Phu, Director of Golden Lotus Trading and Service Company Limited, for the crime of "Using fake documents of agencies and organizations" and the crime of "Fraudulent appropriation of property".

Specifically, from May 2024 to present, through the work of grasping the situation, Thai Hoa Town Police have grasped information that in the town there is a situation of calling on people to contribute capital to invest and cooperate in business.

Realizing that there were many suspicious signs, Thai Hoa Town Police focused on checking, investigating and verifying. Collecting the available documents, the police determined that Nguyen Trong Phu (born in 1977, residing in Quang Tien Ward, Thai Hoa Town) had complicated activities with many unclear manifestations.

After collecting documents and evidence, on September 19, 2024, the Town Police successfully broke the case, arrested, prosecuted, and detained Nguyen Trong Phu for the crime of "Using fake documents of agencies and organizations and fraudulently appropriating property".

Accordingly, Nguyen Trong Phu has a previous conviction for fraud and appropriation of property and was sentenced to 12 years in prison.

After completing his prison term, Phu established the Golden Lotus Trading and Service Company Limited in Thai Hoa town, with Phu as director. The company specializes in wholesaling cars, motorcycles, motorbikes, etc.

In June 2023, Phu signed a mortgage contract to mortgage a car registered under his name to Toyota Vietnam Finance Company Limited for more than 600 million VND. During the mortgage contract, the company retained the car registration certificate and only gave Phu the mortgage receipt.

However, because he did not have the original car registration certificate, in February 2024, Phu went on Facebook to find out and contacted a person (unknown background) to order a fake car registration certificate for 400,000 VND for use when necessary.

In early May 2024, the company was losing money and needed money to solve work and personal expenses. Phu mortgaged his personal car to defraud and appropriate the property of Ms. NTT (born in 1999, residing in Nghia Loc commune), Nghia Dan district.

At the time Phu mortgaged the car to Ms. NTT, Phu's car was mortgaged to someone else. The amount of money that Nguyen Trong Phu appropriated from Ms. T. was about 300 million VND.

In addition, the police are continuing to expand the investigation into Phu for fraud and appropriation of property by capital mobilization, amounting to more than 20 billion VND from more than 20 victims in the province.

Phu called on people in Thai Hoa town and Nghia Dan and Quynh Luu districts to contribute capital with high returns. In the first few months, the subject sent money to the contributors in full and on time.

However, in the following months, the subject used the excuse that the company was not profitable and had not yet disbursed capital to delay or not send money.

Currently, the case is being further investigated and clarified for handling according to the provisions of law.