Singer Khanh Phuong's wife accused of defrauding 9,113 billion VND, appropriating 26,000 people

The Hanoi People's Procuracy has just issued a decision to return the case file, requesting additional investigation into the case of "Fraudulent appropriation of property" that occurred at Nhat Nam Real Estate Investment and Trading Company; Song Da Nhat Nam Company and Song Da Invest Company.

Previously, in December 2024, Hanoi City Police concluded the investigation of the case, proposing to prosecute Vu Thi Thuy (born in 1983), Chairwoman and General Director of Nhat Nam Company, for fraud.

Previously, in December 2024, Hanoi City Police concluded the investigation of the case, proposing to prosecute Vu Thi Thuy (born in 1983), Chairwoman and General Director of Nhat Nam Company, for fraud. Defendant Thuy is the wife of Mr. Pham Khanh Phuong, also known as singer Khanh Phuong with the famous song "Chiec khan gio am". In the first investigation conclusion, the prosecution agency showed that Mr. Phuong was not an accomplice with his wife in the fraud but was the owner and bought some real estate related to the case for Vu Thi Thuy.

Five other people in Nhat Nam Company were proposed to be prosecuted for being accomplices with Thuy, including Tran Thien Tam, Deputy General Director and Director of Ho Chi Minh City Branch; Trinh Van Ton, Deputy General Director of Nhat Nam; Pham Van Tuyen, Head of Strategy Department; Nguyen Van Minh and Nguyen Cong Son, both members of the Strategy Department.

According to the case file, in 2019, Ms. Thuy established Nhat Nam Company with a 'fake' charter capital of 200 million VND. Ms. Thuy then used this company to raise capital from investors. However, singer Khanh Phuong's wife provided 'false' information about real estate projects as well as the business situation of Nhat Nam Company, promising high profits to lure investors to contribute capital.

With the purpose of deceiving, Nhat Nam Company also trained the sales team with presentations introducing real estate investment activities, hotel and restaurant business; commission payment policies...

Nhat Nam's sales staff are taught how to share with investors, anticipate questions and answer options for investors. In particular, if anyone asks whether the company "takes money from previous investors to pay later investors?", the sales staff must explain that the source of payment is from profits from investment activities, real estate business, restaurants, etc.

Vu Thi Thuy also directed the organization of many events to invite investors to participate in order to mobilize them to contribute capital to Nhat Nam. People from far away provinces when participating in the event are also arranged for transportation, meals...

Ms. Thuy also established an advisory board and hired individuals working in the police, army, Government Office... as members to create a good image, prestige and create trust for investors. According to the investigation conclusion, from 2019 to 2022, Ms. Thuy and her accomplices defrauded about 24,000 people with a total amount of more than 8,874 billion VND into Nhat Nam. When the incident broke out, many press agencies reported on the transparency in capital mobilization, hundreds of people filed a complaint against Nhat Nam Company. However, defendant Thuy did not stop but continued to defraud through the remaining 2 units, Song Da Invest and Song Da Nhat Nam.

By July 2023, the two above-mentioned units could not raise more capital, so Thuy's system officially stopped operating. The investigation agency said that, through all 3 companies: Nhat Nam, Song Da Invest and Song Da Nhat Nam, Vu Thi Thuy and her accomplices had defrauded nearly 26,000 people of a total of more than 9,113 billion VND. Ms. Thuy used more than 4,297 billion VND of the defrauded money to spend in the form of "taking from the later to pay the earlier". To date, she has also appropriated more than 4,816 billion VND.

Owner Nhat Nam declared that of the above 4,816 billion VND, she used more than 137 billion VND for additional bonuses for investors (strategic shareholder dividends, contract bonuses, business club...); more than 2,329 billion VND for commissions and sales bonuses; more than 567 billion VND for business expenses (salaries, office, event organization...); and 188 billion VND for real estate investment nationwide.

In addition, Vu Thi Thuy used 16 billion VND to invest in the new urban area project of the agricultural market in Luc Ngan district (Bac Giang); bought shares of SJC Company for a total amount of more than 110 billion VND. The remaining amount of more than 986 billion VND, Thuy used for personal purposes and has not been able to explain it specifically to this day.

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