Tran Qui Thanh, chairman of Vietnam’s largest private beverage producer Tan Hiep Phat Group, and his daughter Tran Uyen Phuong, deputy CEO of the firm, have been apprehended for allegedly abusing trust to appropriate assets.

Investigators of the Ministry of Public Security also filed charges against Thanh’s other daughter, Tran Ngoc Bich, who is also a deputy CEO of Tan Hiep Phat, but she was not taken into custody.

Police searched their residences and workplaces at nine locations on Monday afternoon after getting the Supreme People's Procuracy’s approval.

Police officers started looking into their case in March 2021 but it was suspended in November last year due to the expiration of the investigation period and the need to clarify the reported losses.

Investigators launched criminal proceedings against the case after receiving an accusation letter of Le Van Lam, CEO of Kim Oanh Dong Nai Investment and Development Company, and some other individuals, accusing Thanh, Phuong, Bich, and others of illegally appropriating assets, specifically large real estate projects in Ho Chi Minh City and neighboring Dong Nai Province.

They allegedly abused their trust to appropriate assets and evaded taxes through the transfer of projects and corporate shares, causing losses of over VND1 trillion (US$42.7 million) for Kim Oanh Dong Nai Investment and Development Company.

The Ministry of Public Security in December 2020 asked the People’s Committee of Ho Chi Minh City to freeze 33 land lots owned by Phuong in Thu Duc City and Binh Tan District.

The ministry also required the Dong Nai authorities to put a hold on all transactions of Minh Thanh Dong Nai Real Estate JSC and a residential area in An Phuoc Commune, Long Thanh District, land which Lam claimed had been acquired illegally.

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