Hanoi businesswoman arrested after stealing $393,000 from Hong Kong firm

By Staff reporters   May 28, 2024 | 02:00 am PT
Hanoi businesswoman arrested after stealing $393,000 from Hong Kong firm
Bui Thi Thanh Huong at a police station in Hanoi. Photo courtesy of the police
A company vice director in Hanoi has been accused of falsifying documents and contracts to borrow and steal over VND10 billion ($392,881) from another company.

Bui Thi Thanh Huong, vice director of the Thanh Ngan Services and Trade Manufacturing company, as well as the head of the management board of the DUCA corporation, is being investigated for obtaining property by fraud, a representative of the economic police department said Monday.

In August 2022, Huong represented her company to forge economic contracts and documents and borrowed over VND10 billion from financial firm VeloTrade Vietnam in HCMC. She then used the money for personal purposes.

VeloTrade is a Hong Kong-based finance-tech company, considered to be the top financial corporation in Asia.

The economic division of the Hanoi police issued an arrest warrant for Huong for obtaining property by fraud on Jan. 26 and detained her later.

The police said there have been multiple complaints accusing Huong, as head of then management board of DUCA, of stealing by fraud through investment and real estate contracts. These complaints are being verified by the police.

The police are now calling for people who had signed investment contracts with DUCA to come forward to assist in the case.

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