Trial begins for gold smuggling case from Cambodia into Việt Nam

Defendants at the trial on Tuesday. 4,830kg of gold were smuggled from Cambodia into Việt Nam. VNA/VNS Photo Hồng Giang

HCM CITY — The trial began on Tuesday of a group of people accused of smuggling a large amount of gold from Cambodia into Việt Nam, to take advantage of higher prices for the precious commodity, with the gang expected to make around $700,000 from the illicit deal.

The court heard that a gang planned to take advantage of the differential in gold prices in Việt Nam, to smuggle more than six tonnes of gold bars over the border into several provinces.

The People’s Court of Hồ Chí Minh City on Tuesday started the first hearings into the large-scale gold smuggling case that occurred in Tây Ninh Province, HCM City and several other localities.

Nguyễn Minh Phụng, 43, from Bình Định Province, Nguyễn Thị Ngọc Giàu, 44, from Tây Ninh Province, Nguyễn Thị Kim Phượng, 39, from Tây Ninh Province, and their accomplices are trialled for allegedly smuggling over six tonnes of the highly priced metal from Cambodia to Việt Nam.

The trial, which is expected to last for three days, is being presided over by Judge Nguyễn Thị Hà.

According to the case file, Phụng had previously worked at a gold shop, dealing in gold, silver, and foreign currency exchange, and had connections in the jewellery industry in HCM City, Tây Ninh and Cambodia.

Noticing that the gold price in Việt Nam was higher than in Cambodia, the defendant agreed and arranged to sell smuggled gold to domestic gold shop owners.

The indictment states that in 2022, Phụng began establishing and operating a smuggling ring to buy and sell gold bars from Cambodia to Việt Nam.

Phụng would receive orders from domestic customers and contact counterparts in Cambodia to place orders. Giàu was responsible for organising the transportation of money and gold across the border.

Giàu, a border resident living near Chàng Riệc border gate in Tây Ninh Province, exploited border policies by hiding gold under ice-laden tricycles to smuggle it across the border.

Investigations revealed that from August 3 to September 28 of 2022, Phụng and her associates smuggled 4,830kg of gold bars worth VNĐ6.644 trillion (US$260 million), making a profit of VNĐ17.6 billion ($697,000).

Phụng profited VNĐ2.4 billion ($94,700), Giàu profited VNĐ13.8 billion ($544,000), with the remaining split among the other 20 defendants.

The indictment determined that Phụng sold 4,830kg of gold bars to many people, including 560kg to Huỳnh Minh Khánh (Khánh Kim Loan gold shop), 268kg to Nguyễn Thị Minh (Kim Hiền Bình Minh gold shop), 294kg to Đặng Thị Thanh Hằng, 1,828kg to 36 other customers and 1,804kg to unidentified retail customers. The investigation agency seized 76kg of gold.

Additionally, another gold smuggling ring, led by Nguyễn Thị Kim Phượng (Giàu’s younger sister), smuggled 1,320kg of gold bars worth over VNĐ1.8 trillion (approximately US$70.9 million). Phượng profited over VNĐ3 billion ($119,000) and Giàu VNĐ3.7 billion ($146,000).

Connected to the case, Đặng Thị Thanh Hằng (the owner of Phúc Hằng gold shop) left the country before prosecution began, leading the Ministry of Public Security to issue a warrant for her arrest, with further action to be taken upon her capture. — VNS