Because of gold bars .. Vietnam tries officials on corruption charges

Official media reported that a court in Vietnam issued a prolonged prison sentence for 16 people working in its only factory approved by the state to produce gold bars, in a corruption case related to millions of dollars and hundreds of kilograms of alloys.

The state -owned SJC has monopolized the production of gold bars in Vietnam since 2012. But the Vietnamese Bank announced in August that it will allow commercial banks and eligible companies to produce gold bars starting from October 10, to replace the previous government inventory mechanism.
The court ruled that the former CEO of Sigon Jewelery Company, Li Thuwi Hang, had seized $ 2.7 million, and caused a loss of $ 4 million to the state treasury and the Sigon Jewelery Company “through a series of fraudulent plans”, according to official media.

Also, other people were sentenced to 15, all of whom are Sigon employees, to prison periods ranging between two years suspended and more than 22 years of charges.
Between 2021 and 2024, they seized approximately 3.6 kilograms of gold, by amplifying the loss rate when treating 10 tons of gold bars, and according to the report, they forged documents to give legitimacy to the gold surplus and sell it to achieve personal gains.
The court also stated that during the treatment of pious gold alloys that were charged with the central bank to treat it, Hang had about 235 kilograms of gold bars, which carries the company and tens of thousands of gold -made gold rings.
The court also obliged the accused to pay a total of about 640 kilograms of gold for the country.