Due to losses in stake in Bitcoin investments and real estate investments … the young director in Da Nang defrauded and confiscated tens of billions of dong from victims by demanding a capital contribution to the promotional events business.

Pham Thi Thuy in court

On November 16, the Da Nang City People’s Court opened a case and sentenced 32-year-old defendant Pham Thi Thuy to 20 years in prison for property misappropriation.

According to the indictment, Thuy is a director of Thanh Thuy Event Advertising Company Limited. Around the beginning of 2018, Thuy lost money participating in Bitcoin investment transactions, financial investments in financial exchanges on the Internet, and real estate investments.

Hence, Thuy’s intent arose to appropriate someone else’s property by providing false information that Thuy’s company was running golf event projects for Korean and Japanese partners as projects contribution time, high profit so the victims could be confident of bringing in investment capital and then to design appropriately.

Initially, Thuy used money from the latter to pay the principal and interest to the former, but then the financial investment, bitcoin virtual currency and real estate suffered losses so that Thuy was unable to repay the debt.

Then Thuy only pays interest, which entices investors to leave the capital in order to continue receiving high interest.

As in the case of the victim, Mr. Nguyen Xuan Nhat (resident of Hai Duong Province) introduced Thuy through an acquaintance who specializes in high-profit golf course projects with Japanese and Korean partners. Mr. Nhat was added to an online group called the “Da Nang Project” with Thuy as a member to contact him directly.

Thuy has posted information to Da Nang Project group about running their company’s branded promotional events and golf courses for Japanese partners, sent pictures of the VND 34 billion project contract … to contribute% after 3 months.

Additionally, Thuy has also snapped pictures of many red real estate books and cars on her behalf and sent them to the group to prove their assets. Nhat believes the project is real, so he signed a business collaboration agreement. When Mr. Nhat transferred money to Thuy’s account, that person confiscated it.

From April 2018 to March 2020, Thuy defrauded 6 people and confiscated nearly VND 25 billion. Thuy just paid nearly VND 8.5 billion with the rest owing more than VND 16 billion.

In particular, Thuy was also accused by 3 other people of fraud totaling nearly 25 billion dong, but the investigating authority determined that it was a civil loan transaction and ordered the litigants to sue in a different case.

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Bao Cong

NS

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