Fraud And Misuse of Bond Issuance Proceeds in Vietnam

Two companies Van Thinh Phat and Tan Hoang Minh are being charged with fraud in Vietnam for allegedly issuing fraudulent corporate bonds and appropriating bond issuance proceeds from bondholders

Under Vietnamese law, only individuals can be convicted of the crime of fraud, not companies

To be convicted of the crime of fraud, the accused must have the intention to appropriate the property of others, and must obtain all three elements of ownership (possession, use, and disposal)

If the accused only obtains one or two elements of ownership, it is not considered a crime of fraud

The accused must have the intention to appropriate the property before using fraudulent means to do so

The accused must commit the fraudulent act before the owner delivers the property to them

If the accused commits the fraudulent act after acquiring the property, it may be considered the crime of "abusing trust to appropriate property" under a different provision of the penal code