Following reports from the Economic Police Department of Ho Chi Minh City Police, who announced receiving complaints from several individuals about losing contact with Kim Nguyên Bảo Jewelry after purchasing gold online and successfully transferring funds without receiving their gold, a reporter from Người Lao Động Newspaper visited the premises of Kim Nguyên Bảo Jewelry (located at 343 Cách Mạng Tháng 8, Hòa Hưng Ward, Ho Chi Minh City) on the morning of November 28. The store was found to be closed and locked.
Attempts to contact the store via the phone number displayed on the storefront were unsuccessful. Both the mobile app and website of Kim Nguyên Bảo Jewelry were also inaccessible.
Local residents reported that the jewelry store had abruptly closed and vacated the premises over a week ago. One neighboring shop owner stated, “The store had been operating for about a year but suddenly closed more than a week ago without any explanation. Several customers have come looking to make purchases, but no one is available, and there is no security presence.”
Observations revealed that the property at 343 Cách Mạng Tháng 8 is currently listed as “available for rent as a whole house.” Upon contacting the number provided for rental inquiries, it was confirmed that Kim Nguyên Bảo Jewelry had terminated its lease two months early.
“The tenant, a jewelry business, vacated the premises several days ago. The property is now vacant and ready for new tenants,” the contact explained.
Kim Nguyên Bảo Jewelry was found closed and locked on the morning of November 28.
As previously reported by Người Lao Động Newspaper on November 27, the Economic Police Department of Ho Chi Minh City Police confirmed receiving complaints from individuals who had lost contact with Kim Nguyên Bảo Jewelry.
These individuals had purchased gold online from the store, transferred funds, or made payments but were unable to reach the store to receive their gold.
One victim, Mr. T.M.H. (born in 1995, residing in Hòa Hưng Ward, Ho Chi Minh City), shared that he had purchased gold from the store and was promised delivery within 2 to 3 days. However, upon arrival to collect his purchase, he was informed by staff that the owner had traveled abroad and was unreachable.
Kim Nguyên Bảo Jewelry has been closed for over a week, and its phone lines are unreachable.
Previously, Kim Nguyên Bảo Jewelry had positioned itself as an online gold and jewelry retailer built on trust and credibility.
Reporters from Người Lao Động Newspaper have reached out to the State Bank of Vietnam’s Zone 2 branch for further information on the incident.
Ho Chi Minh City Police advise citizens to conduct gold transactions only with licensed businesses authorized by the State Bank of Vietnam, ensuring they have a registered business address. Additionally, direct in-person transactions are recommended over online purchases to minimize unverifiable risks and potential losses.
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