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Vietnamese woman arrested for allegedly embezzling over $185,000 from S.Korean companies

Vietnamese woman arrested for allegedly embezzling over $185,000 from S.Korean companies

Wednesday, March 06, 2024, 16:31 GMT+7
Vietnamese woman arrested for allegedly embezzling over $185,000 from S.Korean companies
Do Thi Ha Xuyen (in a white jacket), a resident of Cam Le District, Da Nang City, central Vietnam, is detained for allegedly appropriating VND4.6 billion (US$185,823) from two companies of a South Korean man. Photo: H.B. / Tuoi Tre

Police in Da Nang City, central Vietnam detained and initiated legal proceedings on Tuesday against a 36-year-old woman who acted as the executives of two companies owned by a South Korean man for allegedly appropriating VND4.6 billion (US$185,823) from the firms.

According to an initial investigation, L., a South Korean, sought to invest in Vietnam.

He engaged Do Thi Ha Xuyen, a resident of Cam Le District in Da Nang, to handle the establishment procedures for two companies: K.S. Company, where Xuyen served as director and legal representative, and K.E. Company.

As L. was not consistently in Vietnam, he appointed Xuyen as the managing director of K.E. Company.

Xuyen was authorized to sign documents for transactions with banks, customs agencies, and other bodies.

To serve the companies’ operations, she opened two bank accounts for them and conducted transactions on behalf of L..

Xuyen had to send weekly spending and revenue reports in the South Korean language and monthly bank statements in Vietnamese to L. via email.

From 2020 to 2023, she observed L.'s neglect in money management so she intermittently withdrew funds from the two accounts for her personal real estate and virtual currency investments, later replenishing the accounts.

However, she incurred losses and could not repay a large amount to the companies’ accounts.

She adjusted figures in the reports and bank statements sent to L. to conceal her acts.

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Thanh Ha - Doan Cuong / Tuoi Tre News


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