The People’s Court in the central province of Ha Tinh sentenced a 67 year old South Korean man to 15 year imprisonment for defrauding and appropriating properties at a trial court on September 29.

According to the province’s People’s Procuracy verdict, Vikonec Company manager Her Hyun Jae is neither general contractor nor contractor of any bid package at the Formosa steel mill project.

However, he deceived three entrepreneurs to sign forged contracts on leveling space and constructing works in the project’s construction site from March to June, 2011.   

Via the forged contracts, Her Hyun Jae appropriated VND4 billion from Hoa Tien Company in Binh Duong Province, VND1.35 billion from Tuan Cuong Company in Quang Ninh and VND400 million from Binh Phat Company in Ha Tinh.

After the case was uncovered, Her repaid Hoa Tien VND2.6 billion and Binh Phat VND210 million.

Her Hyun Jae with 10 previous offences has been wanted by the South Korean Police for defrauding.