Hanoi police have proposed to prosecute a Hong Kong man named Hui Wang Hing of swindling and appropriating 11.2 billion dong ($580,000) of many companies in Vietnam.

Hanoi police have proposed to prosecute a Hong Kong man named Hui Wang Hing of swindling and appropriating 11.2 billion dong ($580,000) of many companies in Vietnam.

According to police, Hing went to Vietnam in 1994 and was specialized in providing construction, footwear processing equipment and machinery.

In late 2007, Hing sold five machines owned by a Chinese firm named Sanny for $771,000. The machines were brought to Vietnam for exhibition, and Hing didn’t pay the money to Sanny.

In June 2008, using a false contract, Hing appropriated 30 percent of a total of $1.57 million of deposit money from a machinery-selling contract by Hoan Cau Mechanical Co., Ltd.

Using the same trick, Hing appropriated 800 million dong ($42,000) of deposit of Chung Thanh An Co., Ltd. when he signed a contract to sell two cranes to this firm and then ran away.

Hanoi police have finalized the investigation and asked the Hanoi People’s Procuracy to prosecute Hing for cheating and appropriating assets of businesses.

Nguyen Lam