Phuc Son Group pays 29.3 million USD to fully cover damages
Phuc Son Group on July 3 made an additional payment of 768 billion VND (approximately 29.3 million USD) to remedy damages in the criminal case involving its Chairman Nguyen Van Hau.
Defendant Nguyen Van Hau, former Chairman of Phuc Son Group (Photo: dantri.com.vn)
Hanoi (VNA) – Phuc Son Group on July 3 made an additional payment of 768 billion VND (approximately 29.3 million USD) to remedy damages in the criminal case involving its Chairman Nguyꦅen Van Hau.
With this latest payment, added to previously seized funds in Hau’s bank accounts (over 247 billion VND) and amounts submitted earlier in the pre-trial phase (over 84 billion VND), the total compensation has reached 1.164 trillion VND, effectively covering the entire financial damage caused in the case.
Hau was accused by the Supreme People’s Procuracy of committing bribery by taking advantage of personal and professional relationships to give over 132 billion VND to officials at the Provincial Party Committees, People’s Committees, and various departments in former Vinh Phuc and Quang Ngai provinces (now Phu Tho and Kon Tum provinces, respectively).
Through bribery and personal lobbying, Phuc Son Group won multiple tenders in Vinh Phuc, Phu Tho, and Quang Ngai. After winning the contracts, Hau illegally directed the transfer of those projects to other entities, causing losses of more than 459 billion VND to the State, a violation classified as violating bidding regulations causing serious consequences.
Hau also instructed his subordinates to operate two separate accounting systems, resulting in 504 billion VND in tax losses to the State. This conduct was charged as violating accounting regulations causing serious consequences.
For the three criminal acts, the prosecution has recommended a combined sentence of 30 years in prison for Hau. According to the case file, Hau caused a total loss of 963 billion VND through bidding and accounting violations, along with an additional 204 billion VND due to illegal land price adjustments, bringing the overall damage to 1.164 trillion VND.
The Hanoi People’s Court is scheduled to deliver its verdict on July 4 for Hau and the 40 other defendants involved in the Phuc Son Group case./.
Chairman and CEO of Phuc Son Group JSC Nguyen Van Hau faces 17–18 years in prison for giving bribes; 15–16 years for violations of bidding regulations, causing serious consequences; and 11–12 years for violations of accounting regulations, causing serious consequences. The combined sentence recommended for him totals 30 years.
He acknowledged that the indictment from the Supreme People's Procuracy, which charged him with three offences - violating accounting regulations, causing serious consequences; violating bidding regulations, causing serious consequences; and giving bribes – is accurate, fair, and correct.
Through personal relationships or professional dealings, Chairman of Phuc Son Group Nguyen Van Hau gave a total of over 130 billion VND to local leaders in Vinh Phuc and Quang Ngai provinces. These officials used their positions to execute tasks as requested by Hau, enabling him and Phuc Son Group, as well as Thang Long company, to carry out projects, participate in tenders, and win contracts.
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