Violation Of Investment Commitents, Alma Project Owners Fined $1300

The owner of Alma project – Paradise Paradise Company has just been fined $ 1,300 by Khanh Hoa authorities for delaying their investment commitments.

In addition, the legal aid unit for clients who sign vacation ownership contracts with the Vinh Thien Duong also indicates other hidden, abnormal behaviors related to the investment sector such: investment capital, investors, licensing procedures of the project … that this investor made.

Tran Minh Hai, deputy director of the Department of Planning and Investment of Khanh Hoa province, said that the agency has fined $ 1,300 for Alma – Long Beach Resort Project owners due to delays, violations of commitments and The investment license has been issued.

Accordingly, the ALMA – Long Beach Resort Project was licensed by the Khanh Hoa Province for the Paradise Bay Company Limited (ALMA) to invest in February 2013 in the northern Cam Ranh peninsula tourist resort.

However, according to customer information provided on April 28, 2017 (four years after the issuance of the investment certificate), the Paradise Bay Company has just obtained the first construction for the main building – a very small project in the overall project categories. Legal documents for the remaining items, consumers are not provided information.

investor of Alama project

Khanh Hoa authorities have justly fined the Alma project owner for 30 million dong because of the slow progress, in violation of investment commitments

It is noteworthy that despite the slow progress of many years, the location of the project is still a desert sand beach. The company has been trading products for customers since previous years.

In addition to delays, violations of investment commitments, Truong Anh Tu Lawyer’s Office – a legal aid unit for clients who own a vacation property with Vinh Thien Duong, also points out many other violations of this company.

Specifically, through the signing of holiday ownership contract, with many unclear terms, not in accordance with the law of Vietnam; Investors have infringed on the interests of Vietnamese customers; Violation of the principle of publicity, transparency, self-agreement in the conclusion of holiday vacation contract seriously affect the legitimate rights and interests of Vietnamese consumers (According to official letter to Vietnam Consumer Protection Authority).

“The signing of the contract between the resort and ALMA has seen many signs of asset misappropriation with thousands of large, well-organized, deliberately done in large cities concentrated population (Hanoi and Ho Chi Minh City), signs of violation of the criminal law of the Socialist Republic of Vietnam (Official Letter of recommendation to Police), “Truong Anh Tu said.

Previously, in the consumer protection petition, sent to Consumer Protection Department, Competition Management Department (Ministry of Industry and Trade), Vietnam Standards and Consumer Protection Association, Khanh Hoa Standards and Consumer Protection Association … related to the “unusual” points surrounding the Paradise Bay Company’s Alma project, Lawyer Truong Anh Tu pointed out “abnormal” things around the Alma project of Paradise Bay Company.

Lawer Truong Anh Tu said that the company has “blew” the truth about the investment capital of the project 14 times; Ambiguous in providing information on the progress of construction permits projects; Lack of transparency in providing information about products and services that will be provided to consumers, which is not available to consumers; Deprive the “right to self-defense” of customers in the process of agreement, contract signing … The behaviors of Vinh Thien Duong company, According to lawyer Truong Anh Tu, this is a “trap” to seduce consumers and sign contracts to buy products of the company.

investor of Alama project

ALMA – Long Beach Resort Project is licensed by the Khanh Hoa Province for the Paradise Bay Company Limited (ALMA) to invest in February 2013 in the North Cam Ranh tourist area.

From the “suspicious” points related to the business process of the Alma project of Paradise Bay Company, Truong Anh Tu Law Office proposed the Department of Planning and Investment Khanh Hoa province, Hanoi Department of Planning and Investment, The Department of Planning and Investment of Ho Chi Minh City conducted the inspection and handling of violations in the registration and business operation of Thien Loi Bay Resort Co., Ltd. related to the business and collection of customers when do not have enough business conditions as prescribed by law, business lines and trades not included in enterprise registration certificates; do business at the location without notifying the Provincial Business Registration Office where the enterprise conducts business.

Check the Alma Project, ask Alma to explain the financial capacity of the investor and the objectives, scale, investment capital, progress which is causing many grievances and puzzled for many people.

At the same time, the legal aid unit for clients signing vacation ownership contracts with the Vinh Thien Duong requested Khanh Hoa Department of Planning and Investment to coordinate with related departments (Department of Construction, Department of Finance, Department of Natural Resources and Environment, Department of Culture, Sports and Tourism) in Khanh Hoa, Hanoi and Ho Chi Minh City supervise, inspect and evaluate the investment efficiency of Alma project and a written proposal to the Khanh Hoa People’s Committee about the mistakes of the project investor.

You are reading the article Violation Of Investment Commitment, Alma Project Owners Fined $1300 in the Real Estate category at Any information sharing, feedback please email to, Hotline (+84) 898 898 688 (24/7).
Special thanks!

Đánh giá bài viết

Related Posts
    The Vinhomes Grand Park project in District 9 (Thu Duc City) is a mega-urban park of the investor...
    Situated in a golden location at No.2 Ton Duc Thang Street, Distric 1, HCMC. The Centennial is...
    Located in Duong To ward, Phu Quoc district, Kien Giang Province, Sonasea Villas & Resort is a...