The most read Vietnamese newspaper
Edition: International | Vietnamese
© Copyright 1997 VnExpress.net. All rights reserved.
He has been offloading luxury apartments and a hotel in Hong Kong, accepting losses in some of the transactions, Bloomberg reported.
In June, he sold a hotel at a 50% loss and a project under construction at 39% less than his purchase price.
Chu and his wife own real estate assets worth around $1 billion.
Lan was arrested in October last year for alleged fraud related to issuance and trading of bonds worth trillions of dong (VND1 trillion = $41.87 million).
She established Van Thinh Phat in 1992 as a restaurant and hotel operator before moving into property development.
The company has many projects in prime locations in Ho Chi Minh City.
