Mr. Nguyen Khanh Hung - Chairman of LDG Investment Joint Stock Company (stock code: LDG) has just been prosecuted and temporarily detained for the crime of Customer Fraud. Mr. Hung is involved in the case of LDG Company illegally building 680 villas and townhouses in the Tan Thinh residential area project in Doi 61 commune, Trang Bom district, Dong Nai province.

After this incident, LDG Investment Company and Dat Xanh Group (stock code: DXG) jointly announced information.

LDG Investment said that Mr. Hung's violations are still under investigation, and Mr. Hung has been cooperating with the authorities in clarifying related issues. The incident is only related to the Tan Thinh residential area project in Dong Nai, not related to other projects that the company is investing in and developing.

At the same time, in his role as Chairman of the Board of Directors, Mr. Nguyen Khanh Hung has authorized all matters related to LDG Investment Company to the Board of Directors as well as the Executive Board to ensure that all company activities take place normally.

Mr. Hung’s case will not change or affect LDG Investment’s plans, strategies, production, business and investment activities. The legitimate rights and interests of customers, shareholders and partners will still be guaranteed, LDG’s announcement emphasized.

LDG Investment also affirmed that the company is still operating normally, business activities, customer service, and transactions with partners are still being carried out. After the incident in which the Chairman of the Board of Directors was prosecuted and temporarily detained, the Board of Directors has arranged personnel to handle requests and provide information related to the incident.

Mr. Ngo Van Minh - Acting General Director - is authorized to handle work from Mr. Nguyen Khanh Hung.

Meanwhile, Dat Xanh Group, chaired by Mr. Luong Tri Thin, affirmed that LDG Investment Company as well as Mr. Hung personally are no longer related to the company.

The reason Dat Xanh has this announcement is because previously, LDG Investment was an affiliated company of Dat Xanh. But in July 2020, Dat Xanh divested all capital.

Mr. Hung has been Deputy General Director of Dat Xanh and Vice Chairman of the Board of Directors of Dat Xanh since 2004. However, in January 2021, he resigned from the position of member of the Board of Directors and Vice Chairman of the Board of Directors of Dat Xanh Group.

Mr. Hung was born in 1978 in Quang Binh, has a bachelor's degree in law, has been General Director of LDG since November 2015 and has become Chairman of the Board of Directors of this company since December 2016.

LDG Investment was established in 2010, originally named Long Dien Real Estate Joint Stock Company, with a charter capital of 50 billion VND. LDG's main business line since its establishment is real estate trading including land, townhouses, apartments, urban areas, etc.

Currently, LDG's business area has been expanded in all 3 regions of North, Central and South with provinces and cities such as Quang Ninh, Da Nang, Khanh Hoa, Binh Duong, Dong Nai, Ba Ria - Vung Tau, Ho Chi Minh City, Can Tho...