Monday , June 24 2024

HCMC cops reveal reason for luxury car dealer arrest: mortgaging customer’s car


Luxury car dealer Phan Cong Khanh has been accused of mortgaging a customer’s McLaren on the sly to raise money for settling debts.

CEO of Ho Chi Minh City-based luxury car dealership K Supper had been arrested Sunday for “fraudulent appropriation” of assets.

In early March a customer identified only as Huong asked him to sell a McLaren for VND10 billion (US$423,100) and brought the car to his showroom in District 1, according to the HCMC police.

Phan Cong Khanh at a police station in Ho Chi Minh City. Photo by VnExpress/Nhat Vy

Phan Cong Khanh at a police station in Ho Chi Minh City. Photo by VnExpress/Nhat Vy

In May Khanh, who unknown to Huong was having trouble repaying some debts and redeeming a Mercedes G63 he had mortgaged, asked her for the vehicle’s documents claiming he could show them to potential customers and “increase the chances of selling it.”

But he instructed his employee Mohamach Da Pha to mortgage it for VND2 billion.

Huong then asked him on several occasions to return the documents, but he made excuses. She found out he had pawned the car and filed a complaint with the police.

The police said Khanh admitted to his crime, and Pha also turned himself in.

Mohamach Da Pha and a McLaren that has been confiscated by Ho Chi Minh City police. Photo by VnExpress/Nhat Vy

Mohamach Da Pha and a McLaren that has been confiscated by Ho Chi Minh City police. Photo by VnExpress/Nhat Vy

Khanh, a native of the Mekong Delta province of Ben Tre, has the reputation of selling the most luxurious cars in Vietnam.

He entered the car dealership business in 2017 and opened a showroom in HCMC’s District 1.

He regularly posts photos of himself standing next to Rolls-Royce, McLaren, Lamborghini, Ferrari, and Porsche cars on social media, and writes about how young people can start a business and make money.

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