Billion-dollar project related to Lam Dong Province Chairman who was just arrested

Trillion-dollar project related to Van Thinh Phat case

The Ministry of Public Security has just issued a decision to prosecute, execute an order to temporarily detain and search the residence of Mr. Tran Van Hiep, Chairman of the People's Committee of Lam Dong province, to investigate the act of accepting bribes.

This is the latest development in the case of giving and receiving bribes and taking advantage of positions and powers while performing official duties that occurred in Lam Dong province and some related localities, which is being investigated by the Ministry of Public Security.

When expanding the investigation of the above case, the Ministry of Public Security initially determined that Chairman of Lam Dong Provincial People's Committee Tran Van Hiep had accepted bribes related to the Dai Ninh Urban Area for Trade, Tourism and Ecological Resort project (Dai Ninh Urban Area), Duc Trong district.

After 13 years of investment approval, the Dai Ninh Urban Area project remains unfinished. (Photo: Hoang Giam)

According to the documents, the investor of the Dai Ninh Urban Area project is Saigon Dai Ninh Tourism Investment Joint Stock Company (Saigon Dai Ninh Company). The Chairwoman of the Board of Directors and legal representative of this enterprise is Ms. Phan Thi Hoa.

Established in 2010, Saigon Dai Ninh Company has a charter capital of 300 billion VND. In 2017, the company increased its charter capital to 2,000 billion VND. Since its establishment, this enterprise has only had one project, Dai Ninh Urban Area.

In 2020, Saigon Dai Ninh Company signed a contract to transfer charter capital to Ben Thanh Holdings Group Corporation under the Capella Group ecosystem of tycoon Nguyen Cao Tri.

Regarding the case that occurred at Van Thinh Phat Group, Nguyen Cao Tri was also proposed to be prosecuted for the crime of "abuse of trust to appropriate property".

Tycoon Nguyen Cao Tri has gradually 'taken over' this project of more than 3,500 hectares. (Photo: Hoang Giam)

After signing the above contract, Mr. Tri used Capella Hospitality LLC (another subsidiary of Capella Group) instead of Ben Thanh Holdings Group Corporation to buy back 51% of the charter capital of Saigon Dai Ninh Company, for VND 1,530 billion. In January 2021, Mr. Tri became the legal representative of Saigon Dai Ninh Company.

Then, in September 2022, Mr. Tri asked his younger brother Nguyen Cao Duc to buy 7% of the charter capital of Ms. Phan Thi Hoa at Saigon Dai Ninh Company for 700 billion VND. In total, Mr. Tri owned 58% of the charter capital of Saigon Dai Ninh Company and paid Ms. Hoa 2,230 billion VND.

After owning the majority of shares of Saigon Dai Ninh Company, Mr. Tri agreed to sell 100% of the company's charter capital to Ms. Truong My Lan, Chairwoman of the Board of Directors of Van Thinh Phat Group for 3,000 billion VND.

Ms. Lan deposited and transferred money to Tri 5 times, totaling 20 million USD, equivalent to 463.5 billion VND. After that, Ms. Lan changed her mind and agreed with Tri to transfer the above amount and another amount to buy 10% of the charter capital of Van Lang Education Investment and Management Joint Stock Company.

How is Dai Ninh Urban Area project?

According to the plan, Dai Ninh Urban Area project has a scale of 3,595 hectares in the area of ​​4 communes: Phu Hoi, Ninh Gia, Ta Hine and Ninh Loan of Duc Trong district, Lam Dong province. The total investment of this project is about 25,300 billion VND.

After 13 years of being allocated land, Saigon Dai Ninh Company has not yet been fully invested and has been "inactive" for many years. Up to now, the project progress has only reached nearly 10%.

To date, the project progress has only reached nearly 10%. (Photo: Hoang Giam)

In early 2022, Lam Dong Provincial People's Committee decided to extend the progress of Dai Ninh Urban Area project by 24 months. At the same time, it requested the investor to focus resources to implement the project.

According to a report in March 2023, Duc Trong District People's Committee is continuing to coordinate with relevant units to support Saigon Dai Ninh Company in completing legal procedures for the project. This move took place after the Provincial People's Committee approved project adjustments and extended the time to put the land into use.

By October 2023, Lam Dong Provincial People's Committee directed relevant departments, branches and units to provide legal documents for the Dai Ninh Urban Area project. The investment and construction plan for the project was not mentioned in the progress report.

Some constructions have been built at the abandoned project for many years. (Photo: Hoang Giam)

From June 2021 to September 2023, at Dai Ninh Urban Area project, there were 4 cases of deforestation with a total area of ​​3,522m2 and 20 cases of illegal encroachment of forest land with an area of ​​37,620m2.

In the past 10 years, 257 hectares of forest have been illegally destroyed and 111 hectares of forest land has been encroached upon at the Dai Ninh Urban Area project. Sai Gon Dai Ninh Company has compensated nearly 19 billion VND.

In 2020, in Conclusion No. 929/KL-TTCP, the Government Inspectorate pointed out a series of violations at the Dai Ninh Urban Area project, requesting the Lam Dong Provincial People's Committee to terminate operations and reclaim project land.

However, the Government Inspectorate later announced amendments to some contents in the above inspection conclusion in the direction of requesting the Lam Dong Provincial People's Committee to adjust the project and extend the time to put the land into use.

Regarding this project, in 2023, the Ministry of Public Security prosecuted and executed temporary detention orders against the following individuals: Mr. Nguyen Cao Tri; Mr. Nguyen Ngoc Anh, Chief Inspector of Lam Dong Province; Ms. Tran Bich Ngoc, Director of Department I of the Government Office.

How did Nguyen Cao Tri gradually take over a trillion-dollar project in Lam Dong? Owning more than 30 large and small enterprises operating in the real estate and education sectors, tycoon Nguyen Cao Tri has a business partnership with Ms. Truong My Lan. The two sides share a trillion-dollar urban area project in Lam Dong.

Source: https://vietnamnet.vn/du-an-nghin-ty-lien-quan-den-chu-tich-tinh-lam-dong-vua-bi-bat-hien-ra-sao-2234317.html