After being assigned the responsibility of collecting more than 300 million tuition fees from 45 students, Dao Thi Hien Trang did not return it to the school but invested in cryptocurrencies and then lost the ability to repay.
On June 1, the CSDT, Son La Provincial Police executed the decisions to prosecute the criminal case, prosecute the accused, and the arrest warrant for Dao Thi Hien Trang (SN 1988), residing in Tk15. , Hat Lot town, Mai Son district (Son La) to investigate the act of “Abusing trust to appropriate property”.
Accordingly, the subject of Trang abused the trust of being the deputy academic class to collect tuition fees from 45 students of class K61D2 at Vinh University (in association with Son La College) to “appropriate” the total number of students. over 300 million VND.
After collecting tuition fees, Trang did not return it to the school according to regulations, but used it for personal purposes, including investing in cryptocurrencies through the BINANCE exchange (this is an app that is not authorized by the law). license to operate in Vietnam). With erratic fluctuations and a strong downward trend of the market in the past time, Trang has suffered a heavy loss and cannot pay the appropriated amount.
According to the provisions of law, the conduct of the subject Dao Thi Hien Trang has enough elements to constitute the crime of “abuse of trust to appropriate property” specified in Clause 3, Article 175 of the Penal Code.
The case is still being investigated and clarified.
Binance is a global cryptocurrency exchange that provides a platform to trade over 100 cryptocurrencies. Since the beginning of 2018 until now, Binance is considered the largest cryptocurrency exchange in the world in terms of trading volume. The company was founded by Trieu Truong Bang (CZ), a developer who previously created high frequency trading software. Binance was originally based in China, but later moved its headquarters out of China due to China’s increasingly strict regulations on cryptocurrencies.
Binance is currently being investigated by both the Department of Justice and the US Internal Revenue Service for alleged money laundering and tax violations. The UK’s financial regulator has ordered Binance to stop all regulated activities in the UK by June 2021.
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