Famous business owner
Mr. Tran Qui Thanh is the founder of Tan Hiep Phat Group (headquartered in Thuan An City, Binh Duong Province). This enterprise used to be the leader in the beverage industry in Vietnam.
Tan Hiep Phat was established in 1994. This is one of the largest and richest private enterprises in Vietnam but also full of scandals.
Known as a family business, Tan Hiep Phat has very large profits, with some years announcing profits surpassing foreign giants like Pepsi and Coca-Cola. Tan Hiep Phat's profit margin is also very high.
In 2019, the owner of Tan Hiep Phat, considered super rich, possibly only ranked 2nd in the list of richest billionaires in Vietnam, revealed a plan to seek 3 billion USD for his ambition to conquer the No. 1 position in Southeast Asia in the beverage industry. This Vietnamese giant once refused a 2.5 billion USD deal.
According to Bloomberg, Mr. Tran Qui Thanh said at that time that he was looking for a strategic partner to invest 3 billion USD, helping Tan Hiep Phat become the next "Red Bull" in the region.
At that time, Tan Hiep Phat expected to double its revenue to 1 billion USD within the next 5 years and the value of the enterprise could reach 5 billion USD. Tan Hiep Phat's plan took place in the context that this enterprise had invested 500 million USD in 3 factories, and planned to invest another 500 million USD in the next phase.
Previously, according to Forbes in 2012, Tan Hiep Phat refused a cooperation proposal with an investment value of up to 2.5 billion USD from Coca-Cola of the US on the grounds that the two sides had different visions.
If he had accepted that historic M&A deal, Mr. Thanh would have probably been on Forbes' list of the richest people on the planet before billionaire Pham Nhat Vuong.
With his appearance in ForbesBooks since 2018, Mr. Tran Qui Thanh is considered another Vietnamese face who will quickly enter the list of USD billionaires.
However, Tan Hiep Phat also had a lot of scandals after the controversial "fly" incident. Tan Hiep Phat's revenue in the period of 2014-2017 stagnated despite the new factory Number One Ha Nam coming into operation. However, this business then regained growth momentum from 2018 and maintained it in 2019 when the factory Number One Chu Lai added, bringing the group nearly 1,400 billion VND.
The beverage business brought in a large amount of money for Mr. Thanh’s family. This could also be the main reason why he and his associates had savings deposits of up to nearly 6,000 billion VND in the case involving Pham Cong Danh and the Construction Bank.
Established 10 real estate companies in one week, continuously "holding" prime land
In recent years, Mr. Tran Qui Thanh's group is said to have expanded into real estate. Tan Hiep Phat established a debt trading company with capital of 100 billion VND, possibly to hunt for land funds in the early stages of real estate.
In the period of 2018-2019, the family of Tan Hiep Phat's owner attracted attention when they established more than 20 companies in the real estate business with a total charter capital of up to 20,000 billion VND.
At its peak in 2019, within just one week, Mr. Tran Qui Thanh’s wife and two daughters (Tran Uyen Phuong, Tran Ngoc Bich) established 10 real estate companies. Each company had a charter capital of 1,500 billion VND.
Regarding the ownership structure, Ms. Tran Uyen Phuong usually holds 99.9% of the capital in these companies. The remaining small capital contribution is held by Ms. Tran Ngoc Bich and Ms. Pham Thi Nu, wife of Mr. Tran Qui Thanh.
Mr. Thanh rarely appears as a shareholder of real estate companies in the Tan Hiep Phat ecosystem. Most of the capital contributions are made by his wife and two daughters.
Just a few months after their establishment, 10 real estate companies suddenly dissolved, with the same reason: "there were no projects to invest in, develop and the business's operations were ineffective."
Although he has only been in the real estate industry for a few years, Mr. Thanh's family already owns land funds spread across the southern provinces.
In addition to accumulating "clean land" areas to avoid site clearance, the land collection strategy of the family of Tan Hiep Phat's owner also comes from participating in land auctions and continuously winning auctions for "golden land".
Since entering the real estate sector, Tan Hiep Phat has been quietly accumulating land funds. The company’s real estate is spread across provinces and cities, but mainly in Da Nang City, Ho Chi Minh City and Ba Ria - Vung Tau Province.
Accusations before Tran Qui Thanh and his son were arrested
On the afternoon of April 10, 2023, the Investigation Police Agency of the Ministry of Public Security issued decisions to prosecute the case and prosecute Mr. Tran Qui Thanh and his two daughters, Tran Uyen Phuong and Tran Ngoc Bich, for the crime of "Abuse of trust to appropriate property".
Mr. Tran Qui Thanh and his three sons were prosecuted and investigated for lending activities but signing fake contracts to buy and sell and then appropriating assets of businesses and individuals.
Before the arrest of the father and son of Tan Hiep Phat Chairman, there were many accusations. A typical example is the accusation of Mr. Le Van Lam - Director of Kim Oanh Dong Nai Investment and Development Joint Stock Company - against Mr. Tran Qui Thanh and his three sons.
Another case is that Mr. Nguyen Van Chung accused Ms. Tran Uyen Phuong and Mr. Nguyen Phi Long of having signs of fraud in appropriating land on Ho Hoc Lam Street, Binh Tan District.
In addition, Mr. Lam Son Hoang (residing in Phu Nhuan district, Ho Chi Minh City) accused Mr. Tran Qui Thanh's children of appropriating property through fake contracts.
The above-mentioned business representatives and individuals initially accused Mr. Tran Qui Thanh and his son of "fraudulent appropriation of property".
These individuals and several others later accused Ms. Tran Uyen Phuong of showing signs of tax evasion, false declarations to receive land use rights transfers, and assisting people in evading personal income tax during the process of transferring land use rights in Ba Ria - Vung Tau province, Dong Nai province, and Ho Chi Minh City.
The complaint accuses Mr. Thanh and his two daughters of committing acts of "Fraudulent appropriation of property", "Abuse of trust to appropriate property", "Tax evasion", "Extortion of property" in projects and real estate of particularly large value in Dong Nai province and Ho Chi Minh City since November 2020.
The investigation process so far has sufficient grounds to determine: The actions of Tran Qui Thanh and his daughters Tran Uyen Phuong and Tran Ngoc Bich have sufficient elements to constitute the crime of "Abuse of trust to appropriate property".
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