Based on the accusation of Nguyen Chan – husband of banking tycoon Tu Huong, his second son is withholding the mutual property of his family.
On March 15, Nguyen Chan (96 years old) – husband of Tran Thi Huong (commonly known as Tu Huong, died on May 13, 2017), the founder of Nam A bank and Hoan Cau Group, held a press conference to announce his son’s act of possessing the bank’s property.
At the press conference, Chan revealed that in mid-2016, due to the serious sickness of Tu Huong, she granted her son Nguyen Quoc Toan (born in 1970) permission to manage Nam A bank and Hoan Cau Group. Remarkably, the property-owning right still belongs to her spouse.
However, taking advantage of his mom’s trust, Toan quickly colluded with several individuals to appropriate all assets of the family. The estimation of the total asset value is approximately 30,000 billion VND, including: shares issued by Nam A Bank, shares in subsidiary companies of Hoan Cau Group, Hoan Cau Group’s investment in the form of capital contribution and share purchase.
Apart from real estate, Hoan Cau Group and Nam A Bank also own numerous shares in corporations and Eximbank Vietnam – a national bank which is struggling with difficulties due to massive conflicts from its shareholders.
After discovering this serious incident, Chan immediately dissuaded his son’s action. However, at 10AM on July 25, 2018, there were several people illegally breaking into Chan’s residence at 141 Vo Van Tan to open the strongbox and take away many valuable legal records and asset value documentation of his spouse.
Before leaving the press conference, Nguyen Chan hopes to handle the incident at peace
Noticeably, before the burglary, subjects also used numerous cunnings including, transferring all shares, contributed capital to others, setting up fake transactions to transfer assets,…
Chan explained that all stolen documents are attendance right, voting right at the General Meeting of Shareholders, and right to hold extraordinary meetings within Nam A bank. Because of entirely trusting Chan, his relatives and friends sent stocks for him to keep in the safe.
At the moment, all shares and related records named by Chan’s relatives have been intentionally transferred to others, mostly are his old employees joining hands with his son. Hence, Chan’s family and relatives completely lost their shares and control right of entire activities at Nam A Bank. The subjects inconsiderably use shareholders’ rights to receive dividends and take control of the entire operations of Nam A Bank.
“When things happen, because of the funeral period (Chan’s wife), we still hope to end the incident in peace through the emotional path and the related subjects to stop their immoral activities and refund our stocks and company. However, because of money regardless of friendship and law, they didn’t even follow ethics and laws. Through this press conference, I want to inform the truth, find the justice in society and the truth from law enforcement and mass media agencies” – Chan expressed.
Source: Bao Giao Thong