At noon on May 20, the People's Court of Da Nang City concluded the first instance trial of a real estate broker who defrauded colleagues and customers by buying land and houses at a "basement price". The panel sentenced Nguyen Chi Hoc (38 years old, residing at 23/40 Mai Lao Bang, Ward 13, Tan Binh District, Ho Chi Minh City) to 20 years in prison for fraud and appropriation of property.
According to the indictment, in January 2022, Hoc started working at Tuan 123 Central Real Estate JSC, office at 34 Nguyen Huu Tho, Hai Chau District, Da Nang City.
Nguyen Chi Hoc received 20 years in prison
Hoc demonstrated his brokerage and real estate valuation skills, supported his colleagues in consulting, advertising, marketing, and closing procedures with customers in Da Nang City to earn extra income. Hoc also took advantage of his brother, the deputy general director of this company, to defraud his brother's employees (who were also Hoc's colleagues).
In April 2022, Hoc provided false information about his acquaintances with bank officials and leaders in the real estate sector in Ho Chi Minh City, so he easily had inside information about "rock-bottom" real estate prices.
These are cases where real estate owners encounter problems such as bankruptcy, being pursued by gangsters... need to sell urgently so they sell at a price lower than the bank's valuation, or the property is foreclosed by the bank in Ho Chi Minh City.
Nguyen Chi Hoc at the time of prosecution and detention
They fabricated a 3% profit in a short period of time and this profit increased progressively with the value of the property, to lure the victims.
To gain more trust, Hoc also pretended to reveal a trick that guaranteed 100% profit: through his connections, Hoc would be able to contribute more money when making a deposit. This trick was to increase the deposit, forcing the seller to double the deposit if they did not sell.
Not only colleagues but also Hoc's customers contributed capital to invest. Hoc's trick was to initially only accept small capital contributions, from 30 to 40 million VND/person and Hoc always paid interest on time.
Seeing his reputation, the victims gradually increased their investment. Therefore, in less than 5 months (from May to September 2022), Hoc defrauded 8 people of nearly 40 billion VND. Of which, Ms. PTMP (residing in Muong Thanh apartment building) was defrauded of more than 17 billion VND, Mr. HMC (residing in An Thuong 37, Ngu Hanh Son District, Da Nang City) was defrauded of nearly 11.5 billion VND...
Hoc confessed to depositing all the money he had scammed into his account and gambling online. At first, Hoc won money and had money to pay interest to the victims. Of the nearly 40 billion VND of fraud, the investigation agency determined that Hoc had paid the victims nearly 29 billion VND and had embezzled nearly 10 billion VND.
Hoc confessed that he had gambled away all of this money since October 2022. However, the investigation agency applied the necessary procedural measures but did not collect evidence about Hoc's gambling process, as well as information about related gambling websites.
Source: https://thanhnien.vn/lua-dao-mua-bat-dong-san-sap-ham-chiem-doat-gan-40-ti-dong-185240520111759997.htm
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