Sun. Jul 14th, 2024

Chieu appropriated more than 260 billion VND from Mr. Kien

Chieu appropriated more than 260 billion VND from Mr. Kien 2
Chieu appropriated more than 260 billion VND from Mr. Kien 2

ACB Hanoi Investment Joint Stock Company – ACBI, with Mr. Nguyen Duc Kien (elected Kien) as Chairman of the Board of Directors, owns nearly 30 million shares of Hoa Phat Steel Joint Stock Company.

In early April 2012, Mr. Kien learned that Hoa Phat had a policy of increasing the group’s capital ownership in member companies, including Hoa Phat Steel Joint Stock Company.

Defendant Nguyen Duc Kien.

On May 5, 2012, Mr. Kien directed Ms. Nguyen Thi Hai Yen (Chief Accountant of ACBI Company) to draft documents for Director Tran Ngoc Thanh to deposit with ACB Bank and ACB Securities Company Limited – ACBS for request.

On May 14 and 23, 2012, ACBS representatives responded to ACBI through Yen with the content: The value of the missing security assets after ACBI withdrew 20 million shares and added more than 7.4 million shares of

On September 12, 2012, ACB Bank leaders and members of the Credit Committee discussed and concluded that they did not agree to release the mortgage at the request of ACBI and at the same time affirmed nearly 30 million shares of the Joint Stock Company.

On May 15, 2012, ACBI Company did not hold a meeting of the Board of Directors, but elected Kien still directed Yen to draft a Decision for him to sign and signed the Minutes of the Board of Directors meeting to show the policy and consensus of the members of the Board of Directors.

Mr. Kien directed Yen to transfer these documents to Hoa Phat Group and receive a draft contract from Hoa Phat Steel One Member Company Limited.

On May 21, 2012, Mr. Thanh signed a contract with Hoa Phat Steel One Member Company Limited led by Mr. Kieu Chi Cong (represented director) to resell these 20 million shares, equivalent to 264 billion VND.

Receiving the above amount of money from his partner, Mr. Kien directed Thanh to sign a payment authorization to pay interest of more than 119 billion VND to ACB Bank. Mr. Kien himself directly received 72.5 billion VND in cash for his own use.

Chieu appropriated more than 260 billion VND from Mr. Kien

Bau Kien’s majestic villa is on the edge of West Lake.

After Mr. Kien was arrested for Illegal Business, on August 20, 2012, Hoa Phat Steel One Member Company Limited `fell backwards` because it had not received 20 million shares transferred from ACBI.

From mid-April to mid-July, the police investigation agency seized all 264 billion VND from the sources previously used by ACBI, and returned it to Hoa Phat Steel One Member Company Limited.

With the assessment that the above behavior was fraudulent to appropriate money, the Supreme People’s Procuracy accused Kien, Thanh and Yen of fraudulent appropriation of property.

To ensure the execution process, the police investigation agency of the Ministry of Public Security has distrained 3 real estate properties owned by Mr. Kien and his wife, requesting ACB bank to freeze all stocks and shares.

In 2010, in the list of 100 richest people in Vietnam, with the number of ACB shares in hand, Mr. Kien’s assets were assessed at 805 billion VND.

In addition to finance – banking and football, Mr. Kien invests in tourism, garments, oil and gas, services… Mr. Kien used to be Chairman of Caltex Asphalt Joint Venture and Vice Chairman of KFC Vietnam Joint Venture.

He is also known as the first person to invest heavily in football, serving as Chairman of Hanoi ACB Football Club and Vice Chairman of VPF Football Joint Stock Company.

Related Post

Leave a Reply

Your email address will not be published. Required fields are marked *