On July 1, 2025, No Va Real Estate Investment Group Joint Stock Company (Novaland) was informed of the appellate judgment from the High People’s Court in Hanoi regarding a criminal case about bribery and abuse of power related to the Saigon Dai Ninh Project. The court rejected Novaland’s appeal concerning the seizure of 2,700 billion VND that had been paid to Mr. Nguyen Cao Tri inappropriately. The court confirmed that this amount was seized due to Mr. Tri’s actions aimed at acquiring control and transferring the project for illegal benefits. Novaland claimed it was unaware of any misconduct by its partner and that the court cases did not rule Novaland was guilty of any wrongdoing. The resolution of the seized fund will proceed through civil litigation, and Novaland plans to collaborate with partners to protect its interests.
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