7 defendants in counterfeit money circulation ring sentenced

On December 20, the People's Court of Quang Nam province opened the first instance trial of a group of people involved in a ring circulating thousands of counterfeit money supplied by Chinese people.

Defendants at trial - Photo: LE TRUNG

Accordingly, the People's Court sentenced seven defendants, including: Chu Thi Oanh (47 years old, Tay ethnic group, residing in Cao Bang province) to 20 years in prison, Nguyen Van Hoa (47 years old, residing in Que Vo district, Bac Ninh province) to 18 years in prison, Nguyen Van Tuan (35 years old, residing in Thai Nguyen province) to 9 years in prison, Nguyen Thi Nguyet (34 years old, residing in Thai Nguyen province) to 8 years in prison, Dao Van Can (27 years old, residing in Thai Nguyen province) to 7 years in prison, Dao Van Ninh (35 years old, residing in Thai Nguyen province) to 4 years in prison and Dinh Thi Tuyet (32 years old, residing in Nghe An province) to 4 years in prison for storing and circulating counterfeit money.

According to the indictment, around January 2016 in Cao Bang province, a man (unknown background) introduced Nguyen Van Hoa to Chu Thi Oanh.

After the 2016 Lunar New Year, Hoa contacted Oanh to buy counterfeit money. The two agreed to buy and sell counterfeit money at a rate of 40/100, meaning Oanh gave Hoa 100 million VND in counterfeit money and Hoa paid Oanh 40 million VND in real money.

From April to May 2016 at Ta Lung border gate (Cao Bang), Oanh bought nearly 400 million VND worth of counterfeit money with a face value of 200,000 VND from a Chinese woman named A Ming three times. Oanh then sold 250 million VND worth of counterfeit money to Hoa.

Then, on May 19, 2016, Oanh brought 200 million VND in counterfeit money to Dak Nong province to deliver to Hoa as previously agreed.

When Oanh got off the bus in Gia Nghia town, she was arrested by the Investigation Security Agency of Quang Nam Provincial Police.

Through inspection, the authorities temporarily seized 1,000 200,000 VND bills suspected to be counterfeit.

After receiving the money, Hoa used more than 155 million VND to distribute to other people including: Tuan, Can, Ninh, Nguyet and Tuyet (Hoa's lover) to divide and go to localities such as Hanoi, Thai Nguyen, Dak Lak, Dak Nong and Quang Nam.

By buying low-value items such as phone cards, food... with fake 200,000 VND bills to get the change. Then these people collect the real money from the seller and split the profit with Hoa at a ratio of 50/50.

From April to May 2016, the seven subjects above stored and circulated counterfeit money in large quantities in many different localities.

From documents and evidence collected in May 2016, Quang Nam police arrested the above subjects and seized a large amount of counterfeit money.

The conclusion of the appraisal by the Quang Nam authorities showed that the money temporarily held by Dao Van Can and the merchants in a total of 105 VND 200,000 bills was counterfeit, and the 1,056 VND 200,000 bills temporarily held by Oanh, Tuyet, Tuan, Hoa and Nguyet were also counterfeit.

According to tuoitre