Gold Price Fluctuations: How Will the Case Involving Actress Truong Ngoc Anh Be Resolved?

As reported by Nguoi Lao Dong newspaper, on October 31, the Economic Police Department of Ho Chi Minh City Police executed an arrest warrant for Ms. Truong Ngoc Anh (actress, born in 1976) on charges of embezzlement and asset misappropriation.

In the aforementioned case, a notable detail involves a land transaction conducted using gold. According to the police, Dat Rong Real Estate Company (located in Duc Nhuan Ward, Ho Chi Minh City) filed a complaint accusing Ms. Truong Ngoc Anh of misappropriating the company’s assets.

Ho Chi Minh City Police reading the arrest warrant to Ms. Truong Ngoc Anh

Established in 2007, Dat Rong Company was directed by Ms. Truong Ngoc Anh as its legal representative. During operations, Ms. Anh solicited a total investment of 9.1 million USD (over 149 billion VND) from Mr. P.G.M (an Irish national) for two real estate projects, including the Indochine Building project at 112 Nguyen Thi Minh Khai, Ho Chi Minh City.

Specifically, Mr. M. transferred 4.49 million USD, equivalent to 72 billion VND, for the Indochine project.

Ho Chi Minh City Police and the People’s Procuracy searching Ms. Truong Ngoc Anh’s residence

According to the contract, the Indochine Building project was to be registered under Dat Rong Company’s ownership, valued at 12,917.7 taels of gold. However, before signing the investment agreement, Ms. Anh and N.M.H (born in 1964, residing in Tan Dinh Ward, Ho Chi Minh City) personally signed purchase contracts with four households within the project area for only 7,917.3 taels of gold. Ms. Anh paid 3,000 taels but recorded 4,458 taels as expenses in the company’s books.

Preliminary investigations by Ho Chi Minh City Police suggest these actions violated the investment agreement, indicating fraudulent behavior and inflated project values to misappropriate the difference.

Article 215 of the Criminal Procedure Code stipulates that when determining asset values in criminal cases, authorities must issue requests for asset valuation. The establishment and operation of asset valuation councils, as well as valuation procedures in criminal proceedings, are governed by Decree 250/2025.

Notably, domestic gold prices have been highly volatile. The continuous rise in gold prices raises public concerns: How will the value of allegedly misappropriated assets in Ms. Truong Ngoc Anh’s case be determined, and how will this affect sentencing?

To ensure fairness and objectivity, the case must adhere to Joint Circular 02/2001 issued by the Ministry of Public Security, Ministry of Finance, Supreme People’s Court, and Supreme People’s Procuracy, which provides guidelines on “crimes against ownership.”

Specifically, the value of misappropriated, unlawfully held, or damaged assets is determined based on local market prices at the time of the offense.

In this case, during investigation and prosecution, the valuation council must clarify the value of misappropriated assets in VND, based on gold prices at the time of the offense, to establish the appropriate sentencing framework.

This valuation will serve as a critical legal basis for determining the total value of misappropriated assets, enabling judicial authorities to accurately and fairly assign charges and penalties.

Given gold’s high volatility and sensitivity to various factors, using current gold prices during investigation or trial may not accurately reflect the damage at the time of the offense, potentially compromising fairness and accuracy in criminal law application.

Prime “Golden” Land The Indochine Building project at 112 Nguyen Thi Minh Khai, Xuan Hoa Ward, Ho Chi Minh City, spans over 833 m². This fully redeveloped site is adjacent to Le Quy Don High School and features four street frontages: Nguyen Thi Minh Khai, Nam Ky Khoi Nghia, Vo Van Tan, and Le Quy Don. In December 2007, the Ho Chi Minh City People’s Committee issued a decision to reclaim this land for expanding Le Quy Don High School, compensating the four affected households with over 26.1 billion VND. 112 Nguyen Thi Minh Khai land plot Due to its prime location, this land is considered “golden.” On real estate platforms, a nearby 440 m² plot at the corner of Nguyen Thi Minh Khai and Nam Ky Khoi Nghia is listed for 200 billion VND. Across from this plot, at the intersection of Nguyen Thi Minh Khai and Le Quy Don, stands a similarly named hotel owned by a different company, unrelated to the Indochine project.