LDG: 'Projects are not affected because the Chairman of the Board of Directors was arrested'

According to LDG, the arrest of Chairman of the Board of Directors Nguyen Khanh Hung is only related to Tan Thinh Residential Area, Dong Nai, and does not affect the company's other projects.

This information was announced by LDG Investment Joint Stock Company in a press release issued today (December 1) - one day after Chairman of the Board of Directors Nguyen Khanh Hung was prosecuted and temporarily detained. Dong Nai Provincial Police temporarily detained Mr. Hung to investigate the act of Customer Fraud according to the provisions of Article 198 of the Penal Code.

LDG informed that the above incident is still under investigation, Mr. Hung has been and is coordinating with the authorities to clarify related issues. According to the company, the incident is only related to the Tan Thinh Residential Area project in Dong Nai and does not affect other projects invested and developed by LDG.

The company confirmed that it is still operating normally. Business activities, customer service and transactions with partners are still being carried out. Mr. Hung has delegated all matters related to LDG to the company's Board of Directors.

"LDG commits to making maximum efforts to stabilize all business activities, ensuring the legitimate interests of customers, partners and shareholders," the company affirmed.

Established in 2010, LDG operates in the real estate sector with products such as land, townhouses, apartments, and urban areas in many southern localities such as Ho Chi Minh City, Binh Duong, Dong Nai... In addition, LDG also owns a very large land fund in Ba Ria Vung Tau, Da Nang, and Quang Ninh.

Today, Dat Xanh Group also spoke out about its relationship with Mr. Nguyen Khanh Hung, who worked at the company for more than ten years. Dat Xanh said that Mr. Hung resigned from his position as Vice Chairman of the Board of Directors at the group in early 2021.

Previously, Dat Xanh also recorded LDG as an affiliated company when holding nearly 38% of capital. However, Dat Xanh said it had divested capital, ending all responsibilities and rights with LDG since July 2020. "LDG and Mr. Nguyen Khanh Hung are no longer related to Dat Xanh Group," the company informed.

The investigation agency has not yet announced the specific violations of Mr. Hung and other defendants. Previously, the Dong Nai Provincial Inspectorate determined that although the land had not been allocated and the purpose of use had not been changed, and the construction permit had not been granted to implement the project, LDG Investment Joint Stock Company had built 488 villas and townhouses, 290 of which were under construction. During the project implementation process, there were many shortcomings and violations in land acquisition, compensation, support, and resettlement...

Anh Tu

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