Vietnamese actress Truong Ngoc Anh arrested over alleged fraud involving Irish investor

The Ho Chi Minh City police investigation agency said it has opened a criminal case and issued a detention order for 49-year-old Anh, who faces charges of "abusing trust to appropriate property."

Police said the case stems from a complaint by Dragon Real Property Joint Stock Company, where Anh previously served as chairwoman and director. 

The company alleged she misappropriated funds invested by the Irish national, P.G.M., totaling US$9.1 million for two real estate projects, including the Indochine Park Tower project in what was formerly District 3, now Xuan Hoa Ward following a July administrative reorganization.

P.G.M. reportedly transferred $4.49 million for the Indochine project.

Authorities said that under an investment contract signed on January 25, 2008, the project's land was to be owned by Dragon Real Property at a value of roughly 484.4 kg of gold. 

Police alleged Anh and co‑defendant N.M.H., 61, had already signed personal purchase contracts with four households for only about 297.6 kg of gold, paying 112.5 kg while recording 167.2 kg in company accounts.

Police also said that in December 2007, Ho Chi Minh City authorities reclaimed the land to expand Le Quy Don High School, paying VND26.1 billion ($991,831) in compensation to the households. 

The households returned the full amount to Anh and N.M.H., but police allege she transferred only VND3 billion ($114,000) to the company and investors; the remainder was used for personal purposes without reporting.

Authorities said Anh also allegedly withdrew company funds without authorization and falsified accounting records. 

Investigations are ongoing to identify other individuals involved and recover assets.

Truong Ngoc Anh is known in Vietnam as an actress and film producer.