Dozens of 'ghost' companies were set up to illegally buy and sell invoices worth more than 1,200 billion VND.
Through dozens of "ghost" companies, Nguyen Xuan Vinh and his accomplices issued over 3,700 value-added tax (VAT) invoices to hundreds of businesses, with a total false value of over VND1,200 billion, illegally profiting tens of billions of VND.
On January 18, District 10 Police, Ho Chi Minh City announced that they had dismantled an illegal invoice trading ring worth over VND1,200 billion, with 5 defendants prosecuted and temporarily detained for the crime of "Illegal invoice trading".
Previously, through the work of grasping the situation and coordinating with functional agencies, District 10 Police, Ho Chi Minh City, discovered that in the area there were a number of subjects taking advantage of the open mechanism in establishing and registering businesses to establish a series of "ghost" companies to illegally buy and sell VAT invoices, making illegal profits, so they directed the establishment of a special project to concentrate forces and measures to fight.
After a period of collecting information, documents, and consolidating evidence, on January 11, District 10 Police organized a case investigation, destroying an illegal invoice trading ring led by Nguyen Xuan Vinh (born in 1978, residing in Ward 13, District 10).
Initial investigation results determined that Nguyen Xuan Vinh and his accomplices established, managed, and operated 26 "ghost" companies in District 10 and neighboring areas to illegally buy and sell VAT invoices and make illegal profits.
From 2020 to present, through 12/26 "ghost" companies, Vinh and his accomplices have issued over 3,700 VAT invoices to hundreds of businesses in Ho Chi Minh City and other provinces and cities, with a total false value of more than VND 1,200 billion, illegally profiting tens of billions of VND.
The method of these subjects is to buy back legal entities of companies established by other subjects or collect the identity cards of many individuals. Then, they take advantage of the open policy on business registration to impersonate and set up "ghost" companies to illegally buy and sell VAT invoices, concealing their whereabouts and background.
During the tax declaration process, Vinh and his accomplices falsely declared the value of purchased goods to be nearly equal to the value of sold goods in order to avoid suspicion and detection by the authorities. Currently, the case is being further investigated by the Investigation Police Agency of District 10 Police.
