Monday, September 25 2017

VietNamNews

Police arrest illegal gold traders

Update: February, 26/2015 - 00:00

Police arrest members of IG JSC for conducting an illegal gold trading business. — VNA/VNS Photo Minh Son

HA NOI (VNS) — The Dong Da District Police has arrested eight individuals for their involvement in the illegal gold trading case of IG International Gold JSC (IG JSC) yesterday.

Chief of the district's police Capt. Bui Van Dai said the police have taken the company's managers, accountants, and founder and CEO Luu Cong Khanh, 33, into custody.

IG JSC, headquartered on the eighth floor of 165 Thai Ha in Ha Noi's Dong Da District, was found to be trading gold illegally.

Five other branch offices in Ha Noi, Hai Phong and Hai Duong as well as IG JSC managers' houses were immediately inspected.

The police uncovered VND1.49 billion (US$69,000) in a case, along with 8kg of gold and jewellery, 276 gold pieces as well as VND1,025 billion ($47 million) in trading accounts.

IG JSC's managers confessed that the company had started conducting a gold-trading business in October 2013 even though it was only authorised to trade jewellery.

It hired and trained employees to make phone calls to advertise this service to potential clients who were interested in gold trading, teaching them how to respond when questioned by the authorities.

In addition, IG JSC also set up a company to purchase gold-trading software.

The police revealed that numerous clients had made deposits worth a total of VND180 billion ($8.7 million) at IG JSC.

The case is under further investigation. — VNS

Send Us Your Comments:

See also: