The “kingpin” behind a gold smuggling ring involving more than 546 kg of gold worth over VND1.208 trillion, along with the former chair of the Vietnam Gold Company, have been sentenced in a case involving smuggling and violations of accounting regulations “causing serious consequences”.

The Hanoi People’s Court on February 4 handed down sentences to 11 defendants in a case which occurred in Lao Cai Province and involved Vietnam Gold Investment and Trading JSC and related organizations and localities.

The trial panel sentenced Tran Thi Hoan (41, gold trader) and Pham Tuan Hai (56, former director of Thang Long Trading and Services Co., Ltd.) to 10 years in prison each for the crime of smuggling.

Accomplices in the smuggling charge, including Tran Thanh Hieu (39), Vang Thi Phuong (26), Luong Thi Bich Ha (32), Lieng Thi Thuc (25), Nong Thi Thuy Linh (41), and Nguyen Thi Phuong Nga (49), received sentences ranging from 3 to 5 years.

Regarding the group charged with violating accounting regulations causing serious consequences, the court sentenced Tran Nhu My (49, former Chair of Vietnam Gold JSC), Phung Thi Thuyet (45, former Deputy General Director), and Nguyen Thi Hop (47, former Chief Accountant) to terms of 30 to 36 months in prison.

According to the court, the defendants' actions were dangerous to society, infringed upon security and order, affected production and business, and caused losses to the State budget. The court determined that a strict sentence was necessary.

The court found that the case involved direction and role assignments among the defendants, but the collusion was not tight; the defendants acted without an organized structure. 

Some defendants were hired laborers acting under instructions and did not profit, so they were not required to jointly compensate for damages exceeding VND1.200 trillion, equivalent to the value of more than 546 kg of gold.

Regarding this amount, the court ordered Tran Thi Hoan and Pham Tuan Hai to bear responsibility for compensating the damage. Hoan must pay VND708 billion, while Hai must pay VND499 billion. The court noted that Hoan had already paid VND400 million and Hai had paid VND500 million.

According to the indictment, taking advantage of the price gap between raw gold in the domestic market and China, from September 2, 2024 to December 2, 2024, Tran Thi Hoan reached an agreement with a Chinese national known as “Ba Beo” and with Pham Tuan Hai to smuggle raw gold from China into Vietnam.

The gold was brought through the Lao Cai International Border Gate without permission from the State Bank of Vietnam, with a total weight exceeding 546 kg and a value of more than VND1.208 trillion.

The indictment determined that Tran Thi Hoan purchased more than 97.3 kg of gold worth over VND208 billion from “Ba Beo” and bought 449 kg of gold worth VND999 billion from Pham Tuan Hai.

According to the “kingpin’s” testimony, many gold bars purchased from “Ba Beo” bore markings and Chinese characters, so the markings had to be erased to avoid detection of foreign origin. The gold was then cut into small pieces and sold to customers in Hanoi.

Defendant Vang Thi Phuong, one of the couriers transporting gold from China to Vietnam, testified that she owned a hair salon in Hekou, Yunnan Province, China, and frequently crossed the China–Vietnam border.

In 2024, “Ba Beo” regularly visited Phuong’s salon for haircuts and shampoos. Through conversations, Phuong learned that “Ba Beo” was looking for people to smuggle gold from China into Vietnam for delivery to Tran Thi Hoan’s shop.

Due to unstable income and a desire to earn money to support her child, Phuong agreed to carry smuggled gold for “Ba Beo” for a fee of VND250,000 per kg. The indictment determined that Phuong successfully transported 97 kg of gold and earned nearly VND25 million in fees. She has returned the money.

Phuong also testified that, to transport the gold across the border, she hid the gold under the soles of her shoes. When passing through the border gate, her shoes were not scanned because the scanners only screened luggage.

Because officers did not inspect people or require shoes to be removed, Phuong carried about 2 kg of gold per trip, with 1 kg in each shoe. After crossing the border, she would call employees or relatives of Tran Thi Hoan to notify them of the delivery time at Hoan Hue Gold Shop or at a location near the “kingpin’s” residence.

T. Nhung