On the afternoon of February 4, the Hanoi People's Procuracy presented its indictment, recommending that the court sentence Tran Thi Hoan, 41, owner of Hoan Hue gold shop in Coc Leu, Lao Cai, to 12-13 years in prison for smuggling.

As an accomplice, Pham Tuan Hai, former director of Thang Long Trading and Services Company Limited, was recommended 11-12 years. Six other individuals, including Hoan's employees and those hired to transport gold across the border, were recommended 18 months to 7 years in prison.

In the same case, three individuals from Vietnam Gold Company – Tran Nhu My, chairman of the Board of Directors; Phung Thi Thuyet, deputy general director; and Nguyen Thi Hop, chief accountant – were recommended suspended sentences of 18-36 months for violating accounting regulations, causing serious consequences.

In addition to prison sentences, the procuracy recommended that the Trial Panel compel the two alleged smuggling kingpins to forfeit the equivalent value of the gold. Hoan is responsible for 309 kg of gold, valued at over 680 billion Vietnamese dong at the time of the crime in October 2024. Hai is required to forfeit 528 billion Vietnamese dong, the converted value of 237 kg of gold.

The procuracy noted that the eight defendants have already paid 985 million Vietnamese dong.

Bi cao Hai (ao den) va Hoan (ao xanh) la 2 chu muu buon lau, bi de nghi an cao nhat. Anh: Danh Lam

The procuracy stated that the domestic gold market has been "hot" recently, experiencing an unprecedented situation. To buy one tael of gold, people have to queue, jostle, and reserve their spot. At certain times, gold became an artificially scarce commodity, driving prices up.

Exploiting the domestic market's scarcity, many individuals engaged in speculation and hoarding. They found ways to connect with domestic and international dealers to smuggle raw gold from abroad at low prices. Through various sophisticated methods, they brought the gold into the country to sell to gold shops as raw material for crafting into jewelry, thereby profiting.

"Our state has shown great concern and issued decisive directives to create a stable and transparent gold market. Functional agencies have fought and dismantled many cases, including several prominent ones that have been tried recently. Notably, the masterminds have received strict sentences. Today's case, currently on trial, is also a typical example," a procuracy representative stated.

These defendants exploited existing loopholes and inadequacies in gold business management, as well as policies applied to border residents aimed at facilitating trade between Vietnam and China. During border crossings, agencies like customs and border guards primarily inspect goods and less frequently individuals, requiring only registration in the border guard's logbook.

The defendants leveraged the terrain, which features numerous footpaths, unofficial crossings, and waterways. They also exploited the consistently higher domestic gold prices compared to global rates, connecting and agreeing with certain Chinese individuals and domestic gold shop owners to illegally buy and sell gold. They hired transporters, then processed the gold, erased its origins, and resold it to those in need, profiting from the price difference.

All defendants are adults with legal knowledge and expertise in the gold trading business. However, driven by profit, they disregarded all laws to commit illegal acts.

The defendants' actions have significantly impacted the gold market, hindering state agencies in their management and operations, and creating negative public opinion. Therefore, a strict sentence is necessary, the procuracy analyzed.

Dai dien VKSND Ha Noi tai toa. Anh: Danh Lam

The case occurred in 2024, when the gold price difference between Vietnam and the world was high, while domestic demand for gold was substantial.

In September 2024, "Ba Beo" (a Chinese woman of unknown background) entered Vietnam and sought out Hoan's shop to sell gold. They exchanged phone numbers, and Ba Beo introduced a source of raw gold, 99.99% pure, which she needed to sell at a price lower than the market rate.

Hoan agreed, arranging communication via the Wechat application to report quantities, unit prices, delivery methods, and payment. Once an order was finalized, Ba Beo would hire individuals to smuggle gold across the Lao Cai international border gate into Vietnam for delivery to Hoan.

Ba Beo was familiar with the security control situation at the Lao Cai international border gate, where individuals were not typically searched, only luggage. She instructed transporters to hide the gold inside their shoes.

Upon receiving the gold, if the gold bars still bore foreign markings or symbols, Hoan's employees would use a blowtorch to heat the surface and erase them. They then cut the gold into smaller pieces and sold it to customers in Hanoi for profit.

In addition to the dealings with Ba Beo, Hoan also connected with defendant Hai to purchase gold in China and smuggle it into Vietnam for resale. To secure the supply, Hai bought gold from a Chinese individual named Chau and organized its illicit transport back into the country.

Initially, Hoan would receive gold directly at Hai's home or at designated locations. If the Chinese side could not find transporters, Hai would send his people to China to retrieve the gold, hide it in cloth bags wrapped around their waists, and then cross the border back into Vietnam.

Using these methods, the procuracy accused Hoan of smuggling a total of 546 kg of gold with Ba Beo and Hai, with a total value of 1.208 trillion Vietnamese dong.

The trial is continuing with the defense's arguments.

Thanh Lam