Nga, who is Chairwoman of the Land and Housing Construction and Investment JSC (Housing Group), collected over 377 billion VND (17.6 million USD) from investors for a housing project, which had yet been approved by the Hanoi municipal People’s Committee and had yet been granted construction licenses.
Nga had not been able to return the money to the buyers.
Following the case, the investigation police under the Ministry of Public Security on January 7 launched criminal proceedings against Nga on a charge of “swindling to appropriate assets”, in accordance with Article 139 of the Criminal Code.
On the evening the same day, the police detained Nga, and conducted a raid of her house in Bach Mai precinct, Hai Ba Trung district.
Further investigation is underway.