NEW: Alibaba Chairman Nguyen Thai Luyen sentenced to life in prison

Based on the investigation results showing that the process of selling land, Luyen directed to give customers 6 different interest rate options. The jury determined that this was one of the fraudulent tricks of the defendant Luyen.

On the morning of December 29, the People's Court of Ho Chi Minh City sentenced Nguyen Thai Luyen and 22 defendants in the case of fraud to appropriate property and money laundering, which occurred at Alibaba Real Estate Joint Stock Company with the amount appropriated more than 2,400 billion VND. In the afternoon of the same day, the People's Court of Ho Chi Minh City sentenced Nguyen Thai Luyen and 22 accomplices in the case of fraud to appropriate property and money laundering occurred at Alibaba Company.

The jury found that defendant Nguyen Thai Luyen committed a particularly serious crime. For 3 years, Nguyen Thai Luyen has run Alibaba Company to sell land plots of 58 projects, appropriating more than VND 2,446 billion from more than 4,500 customers.

Considering the amount of money the defendant appropriated from the victims was particularly large, and the other side also disrupted the state's land use management plan, the jury found that a very strict sentence was needed. All the land the defendants offer for sale is not land, but agricultural land

In order to offer bogus products, in addition to lying about the size and financial capacity of the company (from 2016-2017, the charter capital increased from 1 billion VND to 1,600 billion VND), Nguyen Thai Luyen also used tricks. name the project with beautiful words such as: Ali Aqua Nhon Trach - Japanese class in the heart of the airport city; Alibaba Thang Hai City- The island nation of lions resting in Binh Thuan; Ali Aqua Xuan Loc - Urban area in France in miniature; Super project of mini ecological urban area Ali Venic...

Besides, Luyen also offers customers flexible payment methods, even having the option to pay in installments from 1-5 million VND per month. The defendants' behavior is to make customers believe that they will be able to settle in desirable project areas.

The jury concluded that the defendants had committed fraudulent acts to collect money from customers. The jury did not accept the point of view of changing the crimes that the Ho Chi Minh City People's Procuracy prosecuted the defendants as "fraudulent appropriation of property" to "violation of regulations on land management and use" as the defense attorneys presented. presented earlier. The jury determined Nguyen Thai Luyen and 22 co-conspirators to commit the crime of "fraudulent appropriation of property", in which Luyen was the mastermind.

Based on the investigation results showing that the process of selling land, Luyen directed to give customers 6 different interest rate options. The jury determined that this was one of the fraudulent tricks of the defendant Luyen.

Regarding the crime of "Money laundering", the jury determined that the defendant Vo Thi Thanh Mai (Luyen's wife) was the mastermind. The total amount of money laundering is more than 13 billion VND. In which, defendant Mai used more than 1 billion VND to settle credit contracts with the bank, using the remaining 12 billion VND for personal purposes. Considering the above money has an illegal origin, the bank and defendant Mai must pay it back in the case.

The jury declared: On the crime of "fraudulent appropriation of property": Nguyen Thai Luyen: life imprisonment. Although at the trial, Nguyen Thai Luyen did not admit to the crime, but based on the case file and developments at the court, the Procuracy determined that the charge against this defendant was the right person, the right crime, and no crime. wrong. The representative of the Procuracy proposed the jury to sentence Nguyen Thai Luyen to life in prison for the crime of "fraudulent appropriation of property". Defendant Vo Thi Thanh Mai (the defendant's wife Luyen) was offered 30 years in prison for two counts of "fraudulent appropriation of property and "money laundering".

Regarding civil liability, the Procuracy proposed the jury to force Nguyen Thai Luyen and his wife to be jointly responsible for compensating more than 4,000 victims with an amount of nearly VND 2,400 billion. The content of the case, according to the indictment, shows that Nguyen Thai Luyen established 22 companies. The names of directors and legal representatives of these companies are family members or close friends of Luyen.

Luyen then organized to buy a large amount of agricultural land with the money mobilized from customers, then set up residential projects, illegally divided plots, gave false information such as these are the The project has full legality, self-titled projects to call, trick to sign contracts to sell land in residential form to raise money from customers. Nguyen Thai Luyen and related defendants are accused of appropriating VND 2,400 billion from over 4,000 customers.

The case of Alibaba company fraud and money laundering: Defendant Tu Trinh made a crooked declaration in court Hoàng Anh18:41:21 10/12/2022Currently, public opinion is focusing on the trial of Alibaba company defrauding more than 4000 victims. At the latest development, defendant Tu Trinh was still very stubborn, even demanding a review of the amount appropriated and an objective trial. Before being prosecuted and...