On October 31, the Investigation Police Agency of Ho Chi Minh City announced that they had decided to initiate legal proceedings against Trương Ngọc Ánh, a well-known artist and actress, on charges of “abuse of trust to appropriate property.” Ánh has been temporarily detained for investigation.
The accusations against Ánh stem from a complaint made by the Dragon Land Real Estate Joint Stock Company, where she once served as Chairwoman and CEO. The company alleged that she had engaged in activities that suggested she was misappropriating company assets.
Initial investigations revealed that Dragon Land, founded in 2007 with Ánh as the legal representative, sought investments from P.G.M., an Irish national, which totaled approximately 9.1 million USD for two real estate projects, including the Indochine building located at 112 Nguyễn Thị Minh Khai.
Specifically, P.G.M. had transferred 4.49 million USD to Ánh for this project. However, subsequent investigations indicated discrepancies in her financial dealings. Just before signing the investment contract, Ánh and an associate purchased land from four households for 7,917 taels of gold—significantly lower than the 12,917 taels specified in the investment agreement.
Of the total payment, Ánh reportedly paid only 3,000 taels of gold but recorded 4,458 taels in company accounts, suggesting fraudulent behavior aimed at siphoning off the difference. Notably, in December 2007, the Ho Chi Minh City People’s Committee issued a decision to reclaim the land to expand Lê Quý Đôn High School, compensating the four households over 26.1 billion VND. However, after the households returned the compensation to Ánh and her associate, she reportedly transferred only 3 billion VND back to the company and investors, while misappropriating 10 billion VND for personal use without proper accounting.
Furthermore, investigators uncovered that during her tenure at the company, Ánh allegedly withdrew money from the business account and directed the creation of false records to obfuscate her misappropriation activities.
The Ho Chi Minh City police are expanding their investigation to clarify the responsibilities of related individuals and to recover assets for the affected investors and the company. This case sheds light on potential administrative abuses in the corporate sector and highlights the importance of transparent financial practices. The authorities remain committed to ensuring accountability and justice in such matters.