Nguyen Thai Luyen and Nguyen Thai Linh - Photos: Provided by Polic
According to the Ho Chi Minh City CSD, the investigation process identifies Nguyen Thai Luyen (chairman of the Alibaba Board of Directors ) as the mastermind and leader. Luyen directed and together with Nguyen Thai Linh (30 years old, CEO of Alibaba Company) founded Alibaba Company and its affiliates with a total of more than 2,600 employees.
From there, collecting and purchasing large quantities of agricultural land with a total area of more than 600 hectares, leaving it to individuals (Nguyen Thai Linh, Nguyen Thai Luc and other relatives) to name and draw more than 40 "projects" themselves. do exist in the provinces of Dong Nai, Ba Ria - Vung Tau, Binh Thuan (with the attached list), have not done legal procedures, have not been approved by the competent authorities, licensed for project ...
List of "ghost" projects of Alibaba Company
After that, Alibaba Company advertised as project land (residential land) for sale to customers. Up to June 30, Alibaba Company signed a contract to sell land to over 6,700 customers, earning more than VND 2,500 billion.
Based on the initial investigation, these subjects have been hiding in real estate business activities, but in fact they were fraudulent appropriation of assets through the form of multi-level capital mobilization (using land in the project). "ghost" as bait).
Investigation authorities have determined that all the "projects" created by Alibaba themselves are bogus and unable to split land, convert land use purposes into residential land as advertising companies (without and cannot deliver products to customers such as advertisements, descriptions, or contractual content.)
By the end of September 24, the Ho Chi Minh City Police Investigation Agency received applications from more than 900 individuals accusing Alibaba Company of fraudulent appropriation of assets with the amount of appropriated money. VND 500 billion.