“The Shocking Scam: How Indian Buffalo Meat at $5/kg is Transformed into $25/kg Wagyu Beef”

Hida and SK Foods Vietnam's leaders have been charged with fraud for allegedly passing off Indian buffalo meat as premium Wagyu beef, deceiving consumers in the process.

0
19

During a recent press conference, Hanoi City Police revealed details about a counterfeit food production and distribution case involving Hida Food Joint Stock Company.

“Transforming” Indian buffalo meat into Wagyu beef sold at exorbitant prices

According to police representatives, the Hanoi City Police Investigation Agency has pressed charges against Nguyen Thi Phuong Thao, CEO of Hida Food JSC; Nguyen Thi Thuy Hoa, Chief Accountant; Nguyen Thi Dung, Production Director; and Tran Hoang Phuoc, Director of SK Foods Vietnam, for producing and trading counterfeit food products.

Initial investigations reveal that Tran Hoang Phuoc, exploiting consumers’ preference for Japanese beef known for its marbled fat and tenderness, collaborated with Nguyen Thi Phuong Thao to manufacture and distribute fake “premium beef.”

As per their agreement, Thao imported low-quality frozen buffalo meat from India at approximately VND 120,000/kg. This meat was then processed with additives and marbling solutions to mimic the texture and appearance of genuine Japanese beef. The final product was packaged and labeled as “Japanese Wagyu Beef,” sold at VND 400,000-600,000/kg, yielding significant profits.

This fraudulent operation ran from May 2024 until its discovery, involving a large-scale, sophisticated process. Approximately 14 tons of Indian buffalo meat were transformed and distributed across major cities, including Hanoi, Da Nang, Nha Trang, and Ho Chi Minh City.

Two Companies Deceive Consumers by Selling Fake Wagyu Beef

Public concern arises from the sophistication of counterfeit operations disguised as legitimate businesses. Hida Food JSC, established on February 25, 2022, is located at 232 Pham Van Dong Street, Co Nhue 1 Ward, Bac Tu Liem District, Hanoi.

Registered on the National Business Registration Portal for food processing, Hida also lists unrelated activities such as water supply installation, HVAC systems, real estate trading, waste recycling, and construction.

Founded with a charter capital of VND 20 billion, Hida’s largest shareholder is Nguyen Thi Thanh Tam (47.5%). Nguyen Thi Phuong Thao and Hoang Diep each hold 15%, while Tran Van Lam owns 12.5%. Thao serves as CEO and legal representative.

In August 2022, Hida relocated to Di Trach Commune, Hoai Duc District, Hanoi. Notably, before the inspection, Hida increased its charter capital to VND 21 billion.

SK Foods Vietnam, established in November 2022 in Da Nang with a charter capital of VND 9 billion, is majority-owned by Tran Hoang Phuoc (70%) and Tran Thi Hong Vi (30%).

On its website, SK Foods Vietnam emphasizes consumer demand for safe, traceable, and high-quality food. The company positions itself as a provider of clean, health-protecting food products.

You may also like

Raid on Vannest Manufacturing, Arrest of Nguyen Thanh Truong and Nguyen Ngoc Chau

Two individuals, Nguyen Thanh Truong and Nguyen Ngoc Chau, were at the helm of a nationwide illicit operation, producing and distributing tens of thousands of counterfeit jars of a popular bird’s nest drink.

Indictment of Two Pharmaceutical Company Directors

The forensic appraisal results revealed that the products were counterfeit, lacking the declared ingredients or containing them in lower quantities.

“CEO of Dutch Milk Joint-Stock Company Arrested for Counterfeit Production”

Recent developments in Chí Linh City, Hải Dương Province, have led to the arrest and prosecution of Nguyá»…n Trung Vương, the CEO of Dutch Milk Joint-Stock Company. Vương has been charged with the serious offense of “Production and Trading of Counterfeit Food Products.”

Cracking Down on Counterfeit Health Food Production and Trafficking Ring

From early 2023 until the time of arrest, the criminal ring manufactured and sold over 20,000 boxes of counterfeit Hoan Vu Hoang Thanh Tam products, worth an estimated 50 billion VND…