A former member of Vietnam’s lawmaking National Assembly (NA) has been sentenced to life in prison for masterminding a real estate fraud worth over US$16 million.

The Hanoi People’s Court announced the decision on Monday following the two-week trial of Chau Thi Thu Nga, 52.

The jury considered Nga, who was a member of the NA during the 2011-16 tenure, the mastermind who had given directions to her accomplices and fully benefited from the money she appropriated from her victims, and thus sentenced her to life imprisonment.

Nga is also the chairwoman of the Land and Housing Construction and Investment JSC (Housing Group).

Eight other defendants received jail terms between 24 months and seven years for their involvement in the fraud.

Dinh Phuc Tieu, former chief accountant of Housing Group, was given a suspended sentence.

Chau Thi Thu Nga stands trial on October 16, 2017. Photo: Tuoi Tre

According to the indictment, Nga gave inaccurate information regarding the real estate project B5 Cau Dien in Bac Tu Liem District, Hanoi, which was developed by Housing Group, and sold properties included in the project before it was approved by the relevant authorities.

Between 2009 and 2013, Nga and her accomplices signed contracts of investment mobilization with over 700 clients, worth a total of VND377 billion ($16.5 million).

The victims then reported that they were not given ownership of the properties as agreed.

Nga refunded about VND28.7 billion ($1.25 million) to 43 clients but re-appropriated the rest of the money, totaling more than VND348 billion ($15.2 million).

The land where the B5 Cau Dien project is expected to be built is now filled with grass and trees. Photo: Tuoi Tre

The court has asked the authorities to further investigate Nga’s statement that she had spent VND47.5 billion ($2 million) lobbying for her company’s projects as well as for her appointment as a member of the NA.

So far, those who Nga claimed to have received money have asserted that they were not involved.

Regarding compensation, both Nga and Housing Group are responsible for returning VND242 billion ($10.6 million) to 501 victims.

Nga will have to pay over VND54 billion ($2.37 million) while the company will refund the remainder.

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