Court suspends trial for 3 days for 'Phuc Son' tycoon to negotiate with land buyers for Nha Trang airport project

The Central Military Court has paused the trial of Nguyen Van Hau, former chairman of the Phuc Son Group, for three days. This break is intended to facilitate negotiations between Hau and investors regarding the Nha Trang old airport project.

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The defendant Hau's actions have caused severe repercussions for the local economy and the lives of thousands of families.

Hau faces charges related to the project, and during the proceedings, victims' lawyers argued that his actions had severe consequences for the local economy and thousands of families. These investors collectively poured over 7 trillion dong into projects based on their trust in Phuc Son.

Hau acknowledged misappropriating investor funds and committed to resolving the issue within three months. However, the victims expressed skepticism about his financial capacity, noting that their losses extend beyond monetary value to include lost business opportunities and significant asset depreciation.

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I will fully compensate according to the sentence within 3 months. Because currently, there are many good brothers, friends, and partners ready to help me with this.

To address these concerns, Hau proposed a new management model. Under this plan, investors would appoint five representatives to join the project's management board. Additionally, an independent accounting firm or a qualified accountant would be hired to oversee the cash flow and manage banking activities. Hau stated he would not personally profit from the project's funds, ensuring all operations are transparent for the repayment of clients.

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Investors will appoint 5 representatives to participate in the project management board, and appoint an accountant with expertise or hire an independent unit to directly control the cash flow and work with the bank.