Former SJC General Director directed subordinates to create 'virtual holes' to embezzle billions
By creating fake documents and altering documents showing the purchase of gold at high prices and selling at low prices to create false losses, the General Director of SJC and his accomplices, who are subordinates, embezzled billions of dong from the company.
The Supreme People's Procuracy has just completed the indictment to prosecute 16 defendants in the case that occurred at Saigon Jewelry Company Limited (SJC Company).
In which, Ms. Le Thuy Hang (former General Director of Saigon Jewelry Company Limited - SJC) was prosecuted for "Embezzlement of property" and "Abusing position and power while performing official duties".
Saigon Jewelry Company Limited, headquartered on Nguyen Thi Minh Khai Street, owned by the People's Committee of Ho Chi Minh City, operates in the main business lines of producing gold bars, non-ferrous metals, precious metals; retailing gold, silver, precious stones; buying and selling gold bars...
Since December 5, 2019, Ms. Le Thuy Hang has been the General Director and legal representative. In the process of performing the functions and tasks assigned by the State Bank in the production and reprocessing of dented SJC gold bars, production of SJC gold rings, sale of SJC gold bars for price stabilization, etc., Ms. Le Thuy Hang and her accomplices embezzled assets and took advantage of their positions and powers to gain illegal profits, causing great damage to state assets.
Investigation documents show that at the end of March 2024, realizing that SJC Central Branch was making a profit, with the purpose of appropriating SJC Central Branch's assets, Ms. Le Thuy Hang directed Hoang Le Hue (Director of SJC Central Branch) to reduce the profit by adjusting documents, creating a loss, withdrawing the difference and transferring a part to Hang. The remaining part was for Hue and the Branch to use.
To withdraw money, Hue came up with a way to "fake" a Gold Purchase Order at a high price and a Gold Sales Invoice at a low price or edit and cancel the low-priced gold purchase document, re-create the high-priced gold purchase document, creating a loss to withdraw the difference.
The indictment determined that Hue was the person who provided price information and determined the amount of gold to buy and sell based on the gold buying and selling prices listed by SJC Company, but there were times during the day when the price fluctuated.
Then, Hue informs the store manager or through the accountant so that the accountant can notify the store manager.
Based on information provided by Ms. Hue or the accountant, Nguyen Thi Thu Hien (store manager) directly and directed employees at the store to create "fake" purchase and sale documents or edit gold purchase and sale documents to create losses and then sign to complete the items on the documents.
By the end of the day, Hien gathered all the above documents, directly stamped or transferred them to the Cashier of store 193 Hung Vuong - SJC Central Branch to stamp "money collected" on the "fake" Purchase Order and Sales Invoice as well as stamp the created documents, edited them, withdrew the difference and gave it to Hue.
After completing the "false" and edited documents, Store 193 Hung Vuong transferred all the purchase and sale documents to SJC Central Branch. At that time, the cashier and the warehouse accountant of SJC Central Branch signed the completion and then transferred it to the accountant of SJC Central Branch to sign and confirm before entering it into the accounting software for SJC Company to monitor and manage.
Using the above tricks, from April 3 to June 12, 2024, the defendants used the information of 121 customers who had made transactions to create "fake" 139 purchase orders, buying 3,815 taels of gold at high prices (over 71 - over 91 million VND/tael) with a total value of over 320 billion VND.
The defendants also used information of 170 customers to create "fake" 200 electronic sales invoices, selling 3,815 taels of gold at low prices (70 - more than 90 million VND/tael) with a total value of more than 317 billion VND, causing a loss and appropriating more than 3.1 billion VND from SJC Central Branch.
Of which, Ms. Hue transferred more than 2.1 billion VND to SJC General Director Le Thuy Hang, and divided 70 million VND to the other defendants. Ms. Hue alone appropriated 866 million VND.
