April 21, 2024

The Career of Nguyen Van Duong in the High-Tech Security Investment Company CNC went through notable developments. Nguyen Van Duong and Mr. Vu Kim Ha were the two co-founders of CNC, which had its headquarters in a building managed by the police agency. The company operated in the field of online payment and credit services, with a focus on electronic wallets’ development. Within CNC, Nguyen Van Duong served as the legal representative and controlled the company’s shares.

CNC was established in 2011 while Nguyen Van Duong held the position of Chairman of the Board of Directors at UDIC. In 2016, CNC underwent a business registration change with a capital of 20 billion Vietnamese dong. Among this capital, Nguyen Van Duong contributed 19 billion dong, while the remaining 1 billion dong belonged to Ms. Luu Thi Hong (this share capital was transferred by Mr. Vu Kim Ha).

However, Nguyen Van Duong’s career was linked to misconduct. One of the notable cases was the online gambling case through the Rikvip gaming portal. It was known that the Rikvip gaming portal had been operating since 2014, during the time Nguyen Van Duong was active at UDIC. Later, Duong collaborated with Phan Sao Nam nguyen van duong to develop this gaming portal, with CNC being responsible for online payments.

CNC was known as a shelter company of the Ministry of Public Security and was associated with former C50 General Nguyen Thanh Hoa. Thanks to CNC’s role, the operations of the Rikvip gaming portal expanded to 13 provinces and cities, generating massive profits amounting to billions of Vietnamese dong. Among these, Nguyen Van Duong received 40% of the total revenue from this gaming portal.

In addition to the information about Nguyen Van Duong’s career in CNC, there are some important questions that many people are concerned about.

Firstly, after being arrested, did CNC continue its operations? The investigating authorities arrested Nguyen Van Duong and Luu Thi Hong for their involvement in organizing online gambling activities. As a result of this violation, CNC had its business license revoked and was forced to cease operations immediately upon the arrest of Nguyen Van Duong.

Next, how does the arrest of Nguyen Van Duong affect UDIC? In 2016, Nguyen Van Duong divested his shares in UDIC, and currently, the company is under the ownership of another unrelated business. This implies that UDIC is not affected by Nguyen Van Duong’s case and continues to operate normally.

Regarding the capital that Nguyen Van Duong managed in the company, after being arrested, CNC ceased its operations and the capital held by Duong in the company was confiscated by the police. As for the capital in UDIC, he had completely divested his shares, so there is no remaining capital in that company. Therefore, when it comes to executing a large sum of money, Nguyen Van Duong does not have the means to make restitution like Phan Sao Nam, and he will have to accept the court’s decision.