On 2/6, the High People's Court in TP HCM heard the appeal of Le Thuy Hang, 55, former SJC general director, and other defendants seeking lighter sentences for violations at SJC Company.

At the court today, the former SJC general director maintained her request for the appellate court to review the verdict issued by the Ho Chi Minh City People's Court. She was sentenced to 17 years for embezzlement and 8 years for abusing position and power while performing official duties, totaling 25 years in prison.

Hang admitted to the violations outlined in the initial verdict but argued that the court's order for her to return 10,800 taels of gold (5,411 taels of SJC gold bars and 5,110 taels of gold rings, valued at approximately 1,300 billion VND) for confiscation to the state budget was "incorrect". The defendant also requested the court consider applying the gold price at the time of the crime to determine the amount to be returned.

The initial court determined that the 10,800 taels of gold Hang must return were evidence of the case. She had instructed subordinates to use this gold to insert into gold processing batches for the State, intending to sell it on the market for illicit gains.

However, Hang asserted that the amount of raw gold she purchased from outside shops and gave to subordinates to insert into damaged gold processing batches was self-funded and not as substantial as the initial court declared. The initial court aggregated 56 batches, but the defendant stated she only used the initial raw gold amount, reinvesting the proceeds from product sales to purchase new materials for subsequent processing cycles.

Le Thuy Hang and other defendants at the initial trial in 9/2025. *Photo: Quynh Tran*

Similarly, defendants Tran Tan Phat, former SJC workshop deputy director, Nguyen Thi Hue, SJC Hai Phong branch director, and other defendants requested the court consider reducing their sentences and the amount of gold to be returned.

According to Phat, he knew that inserting raw gold from outside into damaged gold processing batches was wrong, so he did not do it extensively. He claimed only about 10%, or 70-115 taels, could be inserted per batch. Furthermore, he had to prioritize ensuring sufficient processing for the company.

Hue also admitted that for each batch of outside gold inserted, she collected it from shops in TP HCM. After each batch was processed by Phat, Hue sold all of it before gathering capital to buy new materials for continued processing.

The initial verdict determined that from 2021 to 2024, Le Thuy Hang abused her position and the company's functions to commit various violations. These included directing subordinates to create false proposals to inflate loss allowances and inserting outside raw gold into SJC gold bar processing for the State Bank of Vietnam. This allowed her to appropriate excess gold and benefit personally.

Additionally, Hang required branches to create false documents, fabricating losses to withdraw money. She also exploited the policy of selling gold at stable prices, selling only a portion to customers and funneling the rest to the market at higher prices to profit from the difference.

In mid-2024, when the State Bank of Vietnam assigned SJC two batches of 10 tons of raw gold for gold bar processing, Hang instructed subordinates to create false proposals to increase the loss allowance from 0,00007 to 0,0005 chi per product. Through this method, she approved subordinates' reports of higher-than-actual losses, thereby appropriating over 95 taels of gold (8,4 billion VND). Hang personally benefited from over 85 taels (approximately 6,6 billion VND).

Moreover, the former SJC general director also directed Hoang Le Hue to create false documents for purchasing gold at high prices and selling at low prices to fabricate losses, embezzling 3,2 billion VND at the Central Branch. Of this, Hang benefited 2,1 billion VND. The actions of the defendant and her accomplices constituted embezzlement totaling 11,6 billion VND.

Defendant Tran Tan Phat at the initial trial in late 9/2025. *Photo: Quynh Tran*

Driven by a profit motive, Hang also agreed to allow her subordinate, workshop deputy director Tran Tan Phat, and his accomplices to purchase and insert outside raw gold into 56 batches of damaged gold processing. This resulted in the illegal production of 6,255 taels of SJC gold bars, causing 74,8 billion VND in damages to the State, with Hang benefiting 64 billion.

Hang further instructed Nguyen Thi Hue, SJC Hai Phong branch director, to buy raw gold from outside and provide it to Phat for the illegal production of 6,255 taels of SJC gold bars and over 11,000 taels of gold rings. This caused 15 billion VND in damages, with Hang benefiting 6,6 billion.

The former general director was also found by the court to have exploited SJC's role in selling gold at stable prices for personal gain. From mid-6 to late 8/2024, the defendant instructed subordinates to create false lists of over 4,300 customers purchasing 7,000 taels of gold. In reality, this gold was sold externally at higher than listed prices, generating 7,2 billion VND in differential profits. Hang personally benefited 2,8 billion VND.

In late 9/2025, the Ho Chi Minh City People's Court conducted the initial trial, sentencing Hang to a total of 25 years in prison. In connection with the case, defendant Phat received 22 years and six months, and Mai Quoc Uy Vien, former director of the gold workshop at Tan Thuan Jewelry Enterprise, received 15 years, both for embezzlement and abusing position and power while performing official duties.

Regarding civil liability, Hang and other defendants must return over 17,000 taels of illegally produced gold. Phat must return 525 taels of SJC gold bars and 435 taels of gold rings for confiscation to the state budget, based on the listed value of SJC gold at the time of judgment enforcement.