Wednesday, July 17 2019

VietNamNews

Wanted tech firm director charged with money laundering

Update: July, 11/2019 - 16:36

 

A Nhật Cường Mobile store is closed down after the police initiate criminal proceedings and issue an arrest warrant for the company's director Bùi Quang Huy in May. — VNA/VNS Photo Minh Hiếu

HÀ NỘI — The Ministry of Public Security’s Investigation Police Agency has initiated criminal proceedings against the director of Nhật Cường Company, a major mobile phone dealer in Hà Nội, for alleged money laundering.

Bùi Quang Huy, 45, was charged with smuggling products in May. When the police attempted to arrest him, he fled the country. 

The investigation found that Huy was investing money that had been earned from smuggling activities into Nhật Cường Company and its branches to gain profit.

On Tuesday, the Investigation Police Agency added a money laundering charge against Huy.

The police have been focusing on investigating and identifying the crimes of those involved in the case and verifying the loss of State property.

On May 14, the Investigation Police Agency initiated legal proceedings against Huy and eight others on suspicion of smuggling and violating accounting regulations, leading to serious consequences.

Huy and his accomplices are accused of organising a transnational smuggling ring and establishing two systems of accounting documents to conceal trillions of đồng worth of revenues.

The police, which conducted raids on multiple Nhật Cường Mobile stores in Hà Nội, confiscated thousands of mobile phones, iPads, and electronic and telecommunications components. All of the stores were forced to suspend operations.

Police have issued an international arrest warrant for Huy, who has fled the country. The other eight defendants are in custody.

Nhật Cường Mobile is the brand of Nhật Cường Trading and Technical Services Company Limited. It has had nine retail shops in Hà Nội since 2001.

It has a guarantee centre in the northern region and an enterprise resource planning centre in the south. — VNS

 

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