Vietnam's 'Successful Lady' winner Truong Thi Tuyet Nga

According to the indictment, Truong Thi Tuyet Nga, 53, from HCM City’s Binh Thanh District, hired a company to design an investment project in a land lot in Binh Khanh Ward of District 2 from late 2007 to early 2008.

They were then not licensed to invest in the high-end housing and trade centre project, covering 35,000 square metres.

However, Nga continued the project and signed a contract to sell 30,000 square metres of land to a company in HCM City at USD1,800 per square metre for a total cost of USD54 million.

The company director handed over a USD3.1 million deposit to Nga before completing the required procedures. In the meantime, Nga also resold a part of the plot to another individual, taking another deposit of VND1.54 billion (USD72,097).

Nga then signed a contract to transfer the entire land lot to her son Vu Hai Anh, who was the director of Vu Lan Construction Investment Limited Company. At the same time she used the land as collateral for a VND131 billion (USD6.13 million) loan from Dai Tin Commercial Joint Stock Bank.

She held onto the land use rights certificate until the land transferring procedures completed.

Nga was arrested last April and has yet to make any compensations.

The People’s Supreme Procuracy has also accused Nga of allegedly giving and mediating bribes. They are still investigating the case.