On March 20th, the trial of Tan Hoang Minh continued with the questioning phase. The panel of judges allocated time for the representative of the Procuratorate and the lawyers to question the defendants.

According to the indictment, defendant Tran Hong Son, Chairman of the Board of Directors and legal representative of Soleil Company, acted on the instructions of the Chairman of Tan Hoang Minh to formally sign financial reports, meeting minutes, and resolutions of Soleil Company regarding the issuance of bonds; and investment cooperation contracts for land plots in the Hoang Hai Complex Project in Phu Quoc to prepare the documents for the issuance of three SOL 1-2-3 bond packages of Soleil Company, assisting Mr. Do Anh Dung in misappropriating 1,891 billion VND from investors.

In his testimony at the trial, Mr. Son stated that many members of his family had also invested in bonds issued by Tan Hoang Minh.

"The defendant's son and daughter-in-law bought over 1 billion VND worth of Tan Hoang Minh bonds, and the defendant's nephew bought over 1.2 billion VND worth of Tan Hoang Minh bonds," defendant Son testified.

img 3449 2.jpg
The victims attend the trial. Photo: CTV

The indictment also alleges that Mr. Nguyen Manh Hung, Chairman of the Board of Directors and legal representative of Viet Star Real Estate Investment Co., Ltd., acted on the instructions of Mr. Do Anh Dung and his son to formally sign the financial reports, meeting minutes, and resolutions of Viet Star Company regarding the policy of issuing bonds.

Mr. Hung also signed a cooperation agreement to purchase shares of Viet Tien Company and a cooperation agreement to invest in the Nam Dai Co Viet project to prepare the documentation for issuing two bond packages. The Procuratorate alleges that Mr. Hung assisted Do Anh Dung in misappropriating 2,671 billion VND from the victims.

According to Mr. Hung's testimony, Chairman Do Anh Dung appointed the defendant as Chairman of Viet Star Company, and all company activities were decided by Mr. Dung. The defendant was not allowed to participate in meetings or discussions regarding the company's business or financial matters.

While working, the defendant was only entitled to the employee's salary and bonuses; no other benefits were agreed upon.

In response to the court's question about why he signed the contracts without attending meetings, Mr. Hung explained that he signed the documents because he trusted Mr. Dung. Furthermore, at that time, the company was going through a difficult period, and he thought issuing bonds was a way to raise funds for business operations and would benefit investors.

img 3448.jpg
Defendant Do Anh Dung at the court. Photo: CTV

The defendant himself also purchased Tan Hoang Minh bonds, and many members of his family, including his parents, younger sibling, mother-in-law, relatives, and other family members, also participated in purchasing Tan Hoang Minh bonds.

In response to the testimony of his subordinates, defendant Do Anh Dung admitted that he was the one who decided to appoint Hung as Chairman of Ngoi Sao Viet Company. Regarding the company's affairs, some decisions were made by Dung, while others were delegated to Hung by the defendant.

According to the testimony of the Chairman of Tan Hoang Minh Group, the issuance of bonds was the responsibility of the Group Chairman, but the members and departments also had a responsibility. Issuing bonds is a normal business activity; when the work is done well and the business is effective, they can receive bonuses based on performance, on a monthly or annual basis.

In court, the lawyers for the victims asked the defendant, Do Anh Dung: Regarding the 8.644 billion VND currently being held, do you request the court to immediately return it to the investors, and do you guarantee that you will not appeal or file any complaints?

While defendant Do Anh Dung was about to answer the lawyer's question, the judge presiding over the trial interrupted, stating that the panel of judges was the one to consider and decide, and suggested the lawyer ask a different question.

This morning, the court adjourned the trial at 9:53 AM to allow newly arrived victims time to review their information and the amount of money they were defrauded of. This list was displayed by the court throughout the trial.