Dispute over management of Hanoi Star School system, system president files complaint to police

Embezzlement, fraud and appropriation of property?

In a press release sent to the press on the morning of July 16, Viet My K-12 Education Investment Joint Stock Company and Vietnam Star Education Joint Stock Company (members of EQuest Education Group) accused Ms. Ng. (one of the founding shareholders and partner in transferring the Hanoi Star Education System to EQuest Education Group) of showing signs of embezzlement and fraud.

Specifically, according to the accusations of the leaders of these two companies, in December 2021, Ms. Ng. and Ms. Ng.'s group signed contracts worth more than VND 1,000 billion to transfer to Viet My K-12 80% of the ownership and operation of the Hanoi Star Education System, including: Hanoi Star Private Primary and Secondary School (owned by Vietnam Star Education Joint Stock Company; referred to as "Hanoi Star School") and Hanoi Star Primary, Secondary and High School - Hoang Mai (committed to be established and owned by Hoang Mai Star Education Joint Stock Company; referred to as "Hoang Mai Star School"). Vietnam Star Education Joint Stock Company and Hoang Mai Star Education Joint Stock Company are two entities that Viet My K-12 owns 80%.

PHOTO: SCHOOL WEBSITE

According to the announcement, Viet My K-12 has fulfilled all payment obligations under the terms of the contract to Ms. Ng and her group. At the same time, Viet My K-12 has also shown trust and cooperation by continuing to appoint Ms. Ng as General Director of Vietnam Star in charge of operating Hanoi Star School.

However, the company also denounced that during the past time, Ms. Ng. had committed many acts with signs of embezzlement and fraud. After discovering the violations, Viet My K-12 sent many notices in various forms (documents, emails) requesting Ms. Ng. to recognize her actions, remedy the consequences, and return the above amount. However, Ms. Ng. cited many reasons to delay and not make the return. Therefore, the Board of Directors of Ngoi Sao Viet Nam held a meeting and "dismissed Ms. Ng. from the executive authority" at Ngoi Sao Ha Noi School in July 2023.

Accordingly, the company's leaders denounced that at the end of 2023, when Hoang Mai Star School had completed legal procedures (granted an operating license), completed facilities and prepared to start operations, Ms. Ng. suddenly announced that she would stop cooperating with Viet My K-12 and would not hand over the ownership, management and operation of the school to Hoang Mai Star Education Joint Stock Company (80% owned by Viet My K-12). The company also affirmed that from the time Hoang Mai Star School officially started operating until now, Ms. Ng. and Ms. Ng.'s group have refused to cooperate and have not made any moves to hand over the school to Hoang Mai Star Education Joint Stock Company.

PHOTO: SCHOOL WEBSITE

Chairman of Hanoi Star reports to the police

Mr. Truong Hoang Nam - Director of Viet My K-12 Education Investment Joint Stock Company (Viet My K-12) and Chairman of Hanoi Star Education System, said that he had filed a criminal complaint with the Department of Investigation Police on Corruption, Economic Crimes , and Smuggling (PC03) - Hanoi City Police and is working with this agency to resolve the matter.

Mr. Nam also said that he and his associates are currently unable to perform any management or operational functions, including quality control, legal compliance, and ensuring the safety of thousands of students, teachers, and school staff.

To clarify this story, Thanh Nien Newspaper will continue to investigate and inform readers.