Nguyen Ngoc Phuong, 46 years old, was sentenced to 17 years in prison by the Ho Chi Minh City court for fraud to appropriate property;
The court also ordered this person to pay the victim more than 21 billion VND.
The sentence was given by the court after the defendant had recovered more than 23 billion VND for the victim.
In March 2019, through the introduction of friends, Phuong knew Mr. P, living in District 10, Ho Chi Minh City.
Phuong introduced as the grandson of a former leader of the state, who can support Mr. P in his business.
The defendant introduced a construction project in Binh Duong, through investigation, this businessman did not contribute capital.
At the end of March 2019, Phuong told Pham that he was buying and selling meteorite stones worth hundreds of millions of dollars.
Phuong invited Mr. P to do business with him. If he sold it, he would divide it with Mr. Pham 25 million USD.
From March to July 2019, Mr. Pham made 10 transfers and gave Phuong 39.7 billion VND and 200,000 USD in cash, totaling more than 44 billion VND.
After many months of not seeing Phuong announce the results of the sale of meteorites, Mr. Pham found out about the case and knew he had been cheated.
Investigating the case, Phuong admitted to the whole crime. The defendant sold some real estate and paid Mr. Pham 23 billion dong.
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