According to the investigation conclusion of the case that occurred at Van Thinh Phat Group and SCB Bank, Ms. Truong My Lan - Chairwoman of the Board of Directors of Van Thinh Phat Group and Mr. Nguyen Cao Tri - Chairman of the Board of Directors, General Director of Capella Holding Group - had a cooperative relationship in buying and selling projects. However, Mr. Tri was accused of "Abusing trust to appropriate assets" of Ms. Lan, worth 1,000 billion VND.
In the transaction agreement between Mr. Tri and Ms. Lan, there is the Dai Ninh Urban Area for Trade, Tourism and Ecological Resort project in Lam Dong; 3 projects in Hai Ha district, Quang Ninh including Hai Ha Seaport Industrial Park, Hai Ha Industrial Park, Mong Cai Border Gate Economic Zone and Cai Chien Island.
Project in Lam Dong: Area of nearly 3,600 hectares, investment capital of about 25,000 billion VND
Dai Ninh commercial, tourist and ecological resort urban area, Duc Trong district, Lam Dong province (called Saigon - Dai Ninh project) is invested by Saigon Dai Ninh Tourism Investment Joint Stock Company (Saigon Dai Ninh Company).
This enterprise was established in 2010, with a charter capital of 300 billion VND, with Ms. Phan Thi Hoa as Chairwoman of the Board of Directors, Director and legal representative. At the time of registration for change in October 2017, the enterprise increased its charter capital to 2,000 billion VND.
According to the investigation conclusion, from 2020 to 2022, Mr. Tri, through relatives and subsidiaries of Capella Group, acquired 58% of the capital of Saigon Dai Ninh Company, paying 2,230 billion VND. As of January 28, 2021, Mr. Tri was the legal representative of this company.
After that, Mr. Tri agreed to sell 100% of the company's charter capital to Ms. Truong My Lan for VND3,000 billion. Ms. Lan deposited and transferred money to Tri 5 times, totaling USD20 million (equivalent to VND463.5 billion).
In fact, Mr. Tri confessed to receiving 1 million USD (equivalent to 23.2 billion VND) and 127 billion VND, and the remaining 19 million USD only recorded payment progress but had not yet received the money.
However, Ms. Lan later did not buy shares of Saigon Dai Ninh Company and agreed with Mr. Tri to add the deposit of 1 million USD (23.2 billion VND) and 127 billion VND along with some other amounts to buy 10% of the charter capital of Van Lang Company.
The Saigon - Dai Ninh project covers an area of nearly 3,600 hectares, spanning four communes: Phu Hoi, Ninh Gia, Ta Hine and Ninh Loan in Duc Trong district, with an investment capital of about VND25,000 billion. This project covers the entire Dai Ninh lake - a place known as a miniature Ha Long Bay in Duc Trong district.
The Saigon - Dai Ninh project was approved for investment in late 2010 (Photo taken in July 2023: Hai Long).
Granted the Investment Certificate in late 2010, after 13 years, the project is still unfinished. The whole project only has a few small roads connecting traffic, some small houses, the rest is mostly hills and empty land.
In 2020, the Government Inspectorate requested to terminate the project's operations and reclaim the land. The reason for the revocation was that the investor did not comply with its financial obligations after converting the land use purpose, did not prepare a dossier to collect forest products, did not fulfill the obligation to replant forests in place of the converted forest use area and compensate for forest resources, but proceeded to build roads.
In July 2021, the Government Inspectorate withdrew this revocation request. The Provincial People's Committee instructed the investor to carry out procedures to extend the project schedule and adjust the project according to the 2014 Investment Law and extend land use according to the 2013 Land Law. The Government Inspectorate requested the investor to complete the project as committed and implement the investment according to the approved scale.
After that, Saigon Dai Ninh Company requested Lam Dong provincial authorities to consider adjusting the project implementation progress and total investment of the project. The investor proposed to increase the total investment from over VND 25,000 billion to over VND 30,200 billion. At the same time, the scale of land use remained unchanged.
Although approved for investment a long time ago, the Saigon - Dai Ninh project is still mostly vacant land (Photo taken in July 2023: Hai Long).
The Dai Ninh Urban Area project has also been involved in many legal disputes. In October 2021, Lam Dong Department of Finance reported that the project's lost forest area was more than 257 hectares. Of which, more than 140 hectares were determined by the Department of Agriculture and Rural Development in 2016. The Department of Finance approved the forest resource compensation value of more than 6.6 billion VND, which Saigon - Dai Ninh Company has paid in full.
The remaining 117ha of forest area was determined to have a reserve of 3,449 m3. The Department determined the compensation value to be over 12 billion VND. However, Saigon - Dai Ninh Company did not agree on the area and reserve and filed a petition.
3 projects in Quang Ninh
The investigation results determined that Mr. Nguyen Cao Tri and Ms. Truong My Lan also had an agreement for Ms. Lan to participate in investing in a project in Hai Ha district, Quang Ninh province.
Around mid-2020, Ben Thanh Holdings Group Joint Stock Company, with Nguyen Cao Tri as Chairman of the Board of Directors, sent a document requesting to study the planning of the following projects: Hai Ha Industrial Park, Mong Cai Border Gate Economic Zone, Cai Chien Island (Hai Ha District, Quang Ninh Province).
Ben Thanh Holdings Group has signed 23 contracts with consulting units to carry out the planning research of the above project with the total cost of the project so far paid to the consulting contractors is 30.7 billion VND. This source of money is taken from two subsidiaries of Van Thinh Phat Group, as investors cooperating with Ben Thanh Holdings Group.
The investigation concluded that Quang Ninh province had approved the policy for Ben Thanh Holdings Group to conduct planning research and provide guidance on some related procedures. The project was only at the planning research stage, land had not been allocated, and the project had not been implemented.
Nguyen Cao Tri agreed to let Truong My Lan invest in a project in Hai Ha district, paying according to the progress of arising costs. Ms. Lan paid Mr. Tri a total of 9.5 million USD twice, equivalent to 220.2 billion VND.
After that, Ms. Lan did not continue to participate in the project and agreed with Tri to transfer this amount of 9.5 million USD along with some other amounts to buy 10% of the charter capital of Van Lang Company.
Mr. Nguyen Cao Tri, Chairman of Ben Thanh Holding Group, at the event in Hai Ha district at the end of 2021 (Photo: Hai Ha Portal).
According to the information posted, Ben Thanh Holding Group has requested to study the planning of two large projects, with a total area of 7,550 hectares, namely Hai Ha Seaport Industrial Park and a multi-purpose commercial, service, and resort complex on Cai Chien Island. The total investment of the two projects is about 65,400 billion VND.
Specifically, Hai Ha Seaport Industrial Park has a scale of 4,988 hectares with functional areas such as high-tech industrial park, deep processing; logistics, warehouse, service industrial park; multi-industry light industrial park; tourism, trade, entertainment service area; gas power plant... Total investment is about 58,200 billion VND.
The multi-purpose commercial, service, and resort complex on Cai Chien Island has a research scale of nearly 2,550 hectares. The project has 5 functional areas: Multi-purpose eco-tourism village; Tourism area combined with agricultural ecological area; ecological resort and health recovery area; international high-class eco-tourism area combined with entertainment; forestry ecological areas, island clusters combined with resorts. The project has a total investment of about 7,200 billion VND.
In Mong Cai City, Ben Thanh Holding Group has surveyed and researched the 1/2000 scale construction zoning plan for the Vinh Trung - Vinh Thuc high-end resort; the ecological urban area project in Hai Hoa ward; the duty-free service area in Hai Hoa ward... In which, Vinh Thuc - Vinh Trung is assessed by this group to have beautiful, pristine natural landscapes and great potential for resort tourism development.
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