Bach Dat An Case: Which Assets of Ms. Hoang Thi Kim Chau Are Being Seized?

A court has sentenced Hoang Thi Kim Chau, former general director of Bach Dat An Company, to a combined 20 years for abuse of trust and life imprisonment for embezzlement. The charges stem from allegations that Chau misappropriated over 774 billion VND (approximately $30 million USD) while managing the company's finances. This amount was allegedly taken through personal advances, rendering her unable to repay the funds.

The case involves numerous real estate projects developed by Bach Dat An Company in Dien Ban town, Quang Nam province. Nearly a thousand buyers have reportedly purchased land but have not yet received official property titles (sổ đỏ). The company had collected over 1.287 trillion VND from customers for these projects, with a significant portion of these funds allegedly being misused.

During her tenure, from July 31, 2017, to August 10, 2023, Chau, who also served as deputy general director, is accused of exploiting her position. The prosecution claims she managed company funds, including cash received daily from customers or withdrawn from bank accounts, which she kept at her private residence. These funds were reportedly recorded as personal advances by the accounting department.

Following the initial trial, Chau appealed the verdict. The court has ordered the seizure of assets belonging to Chau and her husband, including five plots of land in a commercial and residential area, as part of the restitution process. The case continues to draw significant public attention due to its connection to the real estate projects and the large number of affected buyers.