The CEO of Euro Auto company, an authorised BMW cars dealer in HCM City, has been arrested for allegedly smuggling luxury cars into the country.

Euro Auto CEO Nguyen Dang Thao.

The Ministry of Public Security’s Police Department of Economy and Corruption-related Crimes on Wednesday inspected the home and office of Nguyen Dang Thao, who has been the CEO of Euro Auto since November 2015.

In late 2016, authorities discovered many violations while examining the company’s car imports.

Euro Auto was found to sell imported cars even while the cars were waiting for the required customs clearance.

The company also failed to provide legal documents to prove the origin of many products, and allegedly used fake documents such as purchase contracts and receipts to import cars. 

VNS