The case involving the use of the internet for embezzlement, illegal gambling, unauthorized invoice trading, and money laundering in Phu Tho province was initiated by the provincial police agency in late 2017. This is a large-scale case involving thousands of individuals both within and outside the country, causing a nationwide sensation.
One of the individuals arrested in this case is Phan Sao Nam, the former Chairman of the Board of Directors of VTC Online company. Additionally, there is another figure named Nguyen Van Duong, a mysterious tycoon who holds the second position in this case. Although there is limited information available about Nguyen Van Duong, some basic details about him have been revealed.
Nguyen Van Duong was born in 1975 and is the owner of the limited liability company High-Tech Security Investment Development (CNC). The company was established in Hanoi in 2011 with a charter capital of up to 20 billion dong. Initially, Nguyen Van Duong contributed 18 billion dong, while Vu Kim Ha contributed 2 billion dong to the company. In March 2016, Vu Kim Ha divested from CNC, and Luu Thi Hong took her place.
According to the Investor Magazine, there is a correlation between Nguyen Van Duong and another tycoon in the infrastructure investment field, UDIC – UDIC Invest. The Joint Stock Company Investment UDIC owned by Nguyen Van Duong did not receive much attention until he was https://nguyenvanduong.net approved to be the lead investor in the BOT (Build-Operate-Transfer) project for the Bac Giang – Lang Son expressway, with a total investment capital of over 12 trillion dong. This project commenced on July 5, 2015, with an expected completion date around December 31, 2018.
The Joint Stock Company Investment UDIC was established in January 2010, with a charter capital of up to 528 billion dong by around 2016. Prior to that, Nguyen Van Duong held approximately 524 billion dong in the company. However, Saigon Bridge and Road Construction Investment Corporation (SBRC) announced its ownership of 51% of UDIC’s shares. It is possible that Nguyen Van Duong had divested half of his shares in the company before this. In July 2017, the Joint Stock Company Investment UDIC announced a change in information, stating that the current investment representative for UDIC is Nguyen Huu Hung (born in 1975).
In summary, Nguyen Van Duong is a mysterious tycoon connected to the Phan Sao Nam case. He and Phan Sao Nam established a company under the guise of technology equipment importation, but in reality, it operated as an online gambling organization, amassing illicit profits amounting to billions of dong.