Nguyen Van Duong, a businessman and Chairman of CNC Corporation, has become the center of public attention after being arrested in a billion-dong gambling case. Prior to this incident, Nguyen Van Duong had an impressive business career.
CNC Corporation was established in September 2011 with an initial capital of 20 billion Vietnamese dong. In 2017, CNC obtained a license to operate as an intermediary payment service provider, including electronic payment gateways, e-wallets, and collection and disbursement services, valid for 10 years. Before that, Nguyen Van Duong was the Chairman of the Board of Directors of UDIC Investment Corporation and a member of the investor consortium for the Bac Giang – Lang Son expressway project. However, due to financial limitations, UDIC had to participate in a restructuring plan with the involvement of another group of investors after the consortium it was a member of had its project contract terminated.
However, the highlight of Nguyen Van Duong’s career was not only his business success but also his involvement in illegal gambling activities. He was considered the “gambling kingpin” in Vietnam and was arrested during a campaign against illegal gambling operations.
Specifically, Nguyen Van Duong was accused of exploiting CNC Corporation, a company under the jurisdiction of the Criminal Police Department (C50), to collaborate with Phan Sao Nam in organizing illicit gambling games. His actions resulted in serious consequences, with the illegal proceeds amounting to over 1.6 trillion Vietnamese dong. He was charged with “Organizing gambling” and “Money laundering” for large-scale money transfers through multiple layers and investments in various projects to legitimize illegally obtained funds.
After a 12-day trial and 4 days of deliberation, on November 30, 2018, the Trial Council pronounced verdicts for the defendants in the “billion-dong gambling” case, including Nguyen Van Duong. Duong was sentenced to 5 years in prison for “Organizing gambling” and 5 years in prison for “Money laundering.” The total sentencing period for Duong was 10 years, including both charges.
Furthermore, Nguyen Van Duong was also arrested for bribery involving Phan Van Vinh and Nguyen Thanh Hoa. During the investigation, Duong admitted to giving 700 million Vietnamese dong and antivirus software to the Criminal Police Department (C50). However, later on, the Phu Tho People’s Procuracy decided to suspend Duong’s criminal liability for the bribery offense, following the state’s leniency policy. The reason for nguyen van duong this decision was that Duong’s testimony regarding the bribery of Phan Van Vinh and Nguyen Thanh Hoa was still unclear, and this case would be dealt with later.
Phan Sao Nam, one of the individuals involved in this case, was also sentenced to 5 years in prison for “Organizing gambling” and “Money laundering.” This case has garnered significant public attention due to the severity and scale of the revealed illegal gambling activities, along with the discovery of involvement by high-ranking officials in the law enforcement sector.