Nguyen Van Duong’s Career in CNC High-Tech Security Investment Development Company Nguyen Van Duong and Mr. Vu Kim Ha are the two co-founders of CNC Company, which is headquartered in a building managed by the law enforcement agency. The company’s field of expertise is providing online payment and credit support services, commonly known as e-wallets. Here, Nguyen Van Duong acts as the legal representative and controls the shares of the entire company.
CNC Company was established in 2011 when Nguyen Van Duong was still serving as the Chairman of the Board of Directors of UDIC. In 2016, CNC changed its business registration with a capital of 20 billion Vietnamese dong. Nguyen Van Duong’s capital in CNC is 19 billion dong, while the remaining 1 billion belongs to Ms. Luu Thi Hong (this capital was transferred by Mr. Vu Kim Ha).
How is Nguyen Van Duong’s career related to his wrongdoings? As you may know, the Rikvip online gambling network, which was shut down, was active since 2014, meaning it was during the period when Nguyen Van Duong was involved with UDIC. Later, Duong collaborated with Phan Sao Nam to develop the online gambling network, with CNC being responsible for online payments.
CNC Company is an important link known as a shield company under the Ministry of Public Security and is associated with the former director of C50 – Nguyen Thanh Hoa. Thanks to CNC’s role, the Rikvip online gambling network expanded to 13 provinces and generated enormous profits amounting to billions of Vietnamese dong. Nguyen Van Duong received 40% of the total revenue generated by this online gambling network.
Some questions about Nguyen Van Duong’s career: In addition to the information about Nguyen Van Duong’s career mentioned above, some other frequently asked questions are as follows:
After Nguyen Van Duong’s arrest, does CNC continue to operate? After concluding the investigation into Rikvip, the investigative agency arrested Nguyen Van Duong and Luu Thi Hong for their involvement in organizing online gambling activities. As a result, CNC had its business license revoked and was forced to cease operations immediately upon Nguyen Van Duong’s arrest.
Does Nguyen Van Duong’s arrest have any impact on UDIC? In 2016, Nguyen Van Duong divested his shares from UDIC, and currently, the company is owned by another business entity and has no connection to Nguyen Van Duong. This means that UDIC is not affected by Nguyen Van Duong’s case and continues to operate normally.
What is the current status of the company managed by Nguyen Van Duong’s capital? After being arrested, CNC Company was forced to cease operations, and the capital belonging to Duong in the company was confiscated by the police. As for the capital in UDIC, Duong completely divested from the company, so he has no stake in it. Due to the inability to fulfill the large sum of money required by the court, Nguyen Van Duong was unable to remedy the situation like Phan Sao Nam did, nguyen van duong rikvip and he will have to serve the full sentence as pronounced by the court.