Former Director of Saigon Jewelry Company Limited (SJC), Le Thuy Hang.
According to the People’s Police Newspaper, Le Thuy Hang, the former Director of Saigon Jewelry Company Limited (SJC), along with several other former officials, has been indicted by the Supreme People’s Procuracy on two charges: embezzlement of assets and abuse of power while performing official duties. The violations are related to the processing of SJC gold bars, the production of gold rings, and the sale of gold at stabilized prices, causing serious damage to state assets.
According to the indictment, in 2024, the State Bank provided SJC with 10 tons of gold raw materials in two batches for processing and production of SJC gold bars. However, Hang took advantage of her position as Director and instructed her subordinates to submit a “fake” report to inflate the allowable loss rate during the processing. Specifically, Hang requested Tran Hien Phuc, Chief Accountant of SJC, to draft and legitimize a new regulation on the loss rate (0.0005 taels/product), thereby embezzling 95 taels of gold, equivalent to VND 11.6 billion. Of this amount, Hang was accused of personally benefiting from 85 taels of gold, worth VND 6.6 billion.
In addition, Hang instructed Hoang Le Hue, Director of SJC’s Central Region Branch, to create “fake” documents showing the purchase of gold at high prices and sale at low prices, creating a fictitious loss of VND 3.2 billion, of which Hang benefited VND 2.1 billion.
Driven by personal gain, Hang instructed Tran Tan Phat, Deputy Director of the SJC Gold Workshop, to bring gold raw materials from outside into the workshop for processing in 56 batches, illegally producing 6,255 deformed SJC gold bars. This act caused a loss of VND 74.8 billion in state assets while earning illegal profits of VND 64 billion.
Hang also instructed Nguyen Thi Hue, Director of SJC’s Hai Phong Branch, to buy gold raw materials from outside sources to illegally produce more than 11,000 SJC gold rings, causing a loss of VND 15 billion and earning illegal profits of VND 6.6 billion.
From mid-June to the end of August 2024, Hang instructed Nguyen Thi Hue, Hoang Le Hue, and Tran Ngoc Minh Thu (Head of SJC Gold Business Department) to sell only a portion of the stabilized price gold to customers, while keeping the rest to sell at higher prices than the listed prices. The Hai Phong, Central Region branches, and Gold Business Department created a “fake” list of selling 7,000 taels of gold to 4,342 customers, causing a loss of VND 5.7 billion.
In total, the actions of Hang and her accomplices caused a loss of more than VND 107 billion to SJC. Of this, VND 11.6 billion was lost due to embezzlement, and VND 95.8 billion was lost due to violations of regulations. Hang was accused of personally benefiting VND 73.5 billion from these actions.
Along with Hang, Mai Quoc Uy Vien, Director of SJC Gold Workshop; Tran Tan Phat, Deputy Director of the Workshop; Hoang Le Hue, Director of SJC Central Region Branch; and Doan Le Thanh, Team Leader of the Tan Thuan Gold Workshop’s gold melting team, were also indicted on charges of embezzlement of assets and abuse of power. Tran Hien Phuc, Chief Accountant of SJC; Nguyen Thi Loc, Accountant of SJC Central Region Branch; and Nguyen Thi Thu Hien, Store Manager of 193 Hung Vuong, were indicted on charges of embezzlement of assets. Nguyen Thi Hue, Director of SJC Hai Phong Branch, along with five other individuals, was indicted on charges of abuse of power.
The case, which took place at SJC and related units, was initiated by the Investigation Police Agency of the Ministry of Public Security on September 16, 2024. The initial investigation results accused the defendants of “taking advantage of the purchase and sale of gold at stabilized prices, creating fake documents and books, embezzling money, and gaining illegal benefits.”
SJC is a wholly state-owned enterprise under the People’s Committee of Ho Chi Minh City. For many years, the company has contributed tens of billions of VND to the state budget. SJC is among the 27 enterprises that the state will hold from 50% of charter capital downwards or not own after equitization.
The company is the only unit authorized by the State Bank to exclusively process gold bars from 2014 up to now.
Former Vice Head of the National Assembly’s Office, Pham Thai Ha, Appears in Court Over Thuân An Case
Former head of the National Assembly Office Pham Thai Ha has been accused of abusing his position to introduce and influence opportunities for Thuan An Group to participate in bidding and construction project implementation.
A Former Da Nang official, a nominal leader, embezzled five land lots
A deceitful couple, Vo Nhi and her husband, were entrusted with a task to hold five land lots under their name. However, they had other plans as they schemed to usurp the property. In a cunning move, they reported the loss of the red book, a crucial document for land ownership in Vietnam, with the intention to sell the land for their own gain.
The Golden Touch: Unlocking the Secrets to Crafting Captivating Copy
As the doors swung open this morning, a prominent gold shop in Hanoi found itself in an unexpected situation – completely sold out of gold rings and bars.
Amidst soaring gold prices, several prominent gold dealers found themselves in a predicament as they ran out of gold bars and rings.
“Former Chairman of Tan Tan Company Faces Prosecution: A Case for Ethical Leadership”
Let me know if you would like me to provide any further refinement or additional ideas to ensure it aligns with your vision.
The investigative agency has finalized its additional investigation, maintaining its stance to prosecute Mr. Tran Quoc Tan, the former Director of Tan Tan Joint Stock Company, on two charges.
The Unaffordable Gold Conundrum: A Tale of Wealth and Woes
This morning, gold prices surged to unprecedented levels, with SJC gold bullion reaching a staggering 130 million VND per tael, and gold rings nearly touching the same milestone. An unprecedented surge in demand from buyers has left gold businesses depleted, with some retailers running out of stock entirely, resulting in waiting periods of up to 15 days for eager customers eager to get their hands on the precious metal.
