Vietnam Uncovers Massive Gold Smuggling Scheme Worth Billions
According to an inspection conclusion from the Government Inspectorate, seven individuals have been selling raw gold materials of unknown origin worth approximately 2.084 trillion VND (around $88 billion USD). The investigation also uncovered incorrect tax declarations by six businesses, including Bao Tin Manh Hai Joint Stock Company, Bao Tin Manh Hai Jewelry Joint Stock Company, and Mi Hong Co., Ltd.
The Government Inspectorate found that the transactions involving these seven individuals were unusually large in volume and value, exceeding their reported income from gold sales. This has raised suspicions of potential smuggling or other illicit activities.
In addition to the investigation into the individuals and businesses, the Government Inspectorate also proposed measures to address the issue of gold market manipulation. These include stricter regulations on importing raw gold materials and licensing production for enterprises that meet certain conditions.