On March 5, the Economic Police Department of Da Nang City Police issued a decision to prosecute and detain Do Thi Ha Xuyen (36 years old, residing in Hoa Xuan ward, Cam Le district, Da Nang) to investigate the act of "Embezzlement of property", and at the same time searched Xuyen's residence in room 1119 of FPT Plaza2 Apartment (Hoa Hai ward, Ngu Hanh Son district, Da Nang).
Initial investigation results determined that in 2016, Mr. Lee Hoon Bokk (54 years old, Korean nationality) wanted to invest in business in Vietnam so he asked Xuyen to help him with the procedures to establish 2 companies.
Do Thi Ha Xuyen. (Photo: Provided by Police)
In which, KSTC VINA Trading and Service Company Limited (abbreviated as KSTC Company) has a charter capital of 2 billion VND. Mr. Lee agreed to let Xuyen be the owner and legal representative with the title of director.
Kesan Tex-Chem Vietnam Company Limited (abbreviated as Kesan Company) has a charter capital of 2.2 billion VND, Mr. Lee is the legal representative with the title of general director.
Both of these businesses registered their business addresses at a building on Han Thuyen Street (Hoa Cuong Bac Ward, Hai Chau District, Da Nang City).
After establishing the two companies, due to his infrequent presence in Vietnam, Mr. Lee signed an additional decision to appoint Do Thi Ha Xuyen as the CEO of Kesan Company. According to the assigned tasks, Xuyen is authorized to sign transaction documents with banks, customs and other authorities.
To serve business activities, on November 1 and 6, 2019, Xuyen opened 2 payment accounts for 2 companies at a bank branch in Da Nang and was authorized to represent Mr. Lee in conducting banking transactions.
Every week and month, Xuyen had to send spending reports in Korean and bank statements in Vietnamese via email to Mr. Lee.
From September 2020 to May 2023, realizing that Mr. Lee did not pay attention to money management, because he was assigned to manage the bank account, Xuyen repeatedly withdrew money to invest, trade in real estate, virtual currency... for himself.
Police announced the arrest warrant for Do Thi Ha Xuyen. (Photo: Provided by Police)
The investment process lost money, leading to a cash deficit for the two companies above. Therefore, every time he sent a weekly report, Xuyen adjusted the cash and account figures, edited the transaction figures in the bank account statement to match the weekly reported amount.
After discovering the incident, Mr. Lee denounced Xuyen's actions and during the investigation, the police determined that the total amount of money Xuyen embezzled from the two companies was more than 4.6 billion VND.
Currently, the Economic Police Department of Da Nang City Police continues to investigate and handle Xuyen according to regulations.
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