According to the case of “Using the Internet to Commit Property Embezzlement, Organizing Gambling, Illegal Invoice Trading, and Money Laundering” in Phu Tho province, it was the end of 2017 when the local authorities initiated the investigation. This nationwide-shaking case involved billions of Vietnamese dong and thousands of participants from both within and outside the country.
In addition to the well-known figure Phan Sao Nam, the former chairman of the VTC Online Board of Directors, the mysterious tycoon Nguyen Van Duong was the second-in-command arrested in this case. While there is limited information about Nguyen Van Duong, we can still gather some essential details as follows.
Born in 1975, Nguyen Van Duong is the owner of the limited liability company “Investment and Development of High-Tech Security” nguyen van duong rikvip (CNC). Established in Hanoi in 2011, this company has a registered capital of up to 20 billion dong.
Initially, the company’s shareholders included Nguyen Van Duong, contributing 18 billion dong, and Vu Kim Ha, contributing 2 billion dong. However, in March 2016, Vu Kim Ha divested from CNC, and Luu Thi Hong took her place.
According to Investor Magazine, referencing data from the national information portal and business registration, Nguyen Van Duong’s information matches that of another tycoon involved in the infrastructure investment sector, UDIC Invest.
Initially, the UDIC Investment Joint Stock Company, owned by Nguyen Van Duong, was not particularly prominent until he was approved to participate as a joint venture investor in the BOT project for the Bac Giang – Lang Son Expressway, with a total capital of over 12 trillion dong. The project commenced on July 5th, 2015, with an expected completion date around December 31st, 2018.
As per the records, the UDIC Investment Joint Stock Company was established around January 2010. By approximately 2016, UDIC had a charter capital of 528 billion dong, of which Nguyen Van Duong held 524 billion dong.
However, the Saigon Bridge and Road Construction Investment Corporation (SBRC) announced that it held 51% of the capital of UDIC. It is highly likely that Nguyen Van Duong had previously divested half of his shares in this enterprise. In July 2017, the UDIC Investment Joint Stock Company reported a change in information, and the current investment representative for UDIC is Nguyen Huu Hung (born in 1975).
What role did the enigmatic tycoon Nguyen Van Duong play in the Phan Sao Nam case?
The mysterious tycoon Nguyen Van Duong, along with Phan Sao Nam, co-founded a company under the guise of technology equipment importation. However, this company was, in reality, a large-scale underground gambling organization that operated through the internet, amassing illicit profits worth billions of dong.
With the information provided, we hope you have gained a clearer understanding of the enigmatic tycoon Nguyen Van Duong. He was a accomplice of Phan Sao Nam, a prominent figure in the technology sector that you may not have been aware of before.