Hanoi freezes assets of 762 Van Thinh Phat Group scam-related companies
Hanoi’s Department of Planning and Investment has frozen assets of 762 legal entities related to the alleged fraud that occurred at property developer Van Thinh Phat Group.
The move aims at preventing any transfers, donating or using as collateral of the assets at these companies, the Hanoi department said.
The 762 legal entities are allegedly related to individuals and entities involving the Tan Hiep Phat fraud case. The list of involving individuals comprises of 11 people.
The document, dated October 11, was sent to authorities of city districts, townships and relevant administrative units.

Van Thinh Phat Office Building in District 1, Ho Chi Minh City. Photo courtesy of Young People newspaper.
On October 8, Truong My Lan, chairwoman of HCMC-based property developer Van Thinh Phat Group, was arrested for alleged fraud in the issuance and trading of corporate bonds. The 66-year-old was accused of illegally issuing bonds to raise trillions of Vietnamese dong (tens of millions of dollars) from investors during the 2018-2019 period.
Hanoi's planning and investment department said it has been asked by the Ministry of Public Security’s investigative agency to provide information for the probe.
HCMC's police had asked the city's Department of Naural Resources and Environment to provide information on land use rights related to 156 land plots involving Van Thinh Phat, mainly in districts 1, 3, 5, 7, Binh Chanh, and Thu Duc City on the outskirts.
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