Exposing the huge invoice trading ring

Quyen and his accomplices issued nearly 4,000 value-added invoices for DO and FO petroleum products to 101 businesses, with a value recorded on the invoices of more than 5,000 billion VND.

On July 14, the Supreme People's Procuracy transferred the case file of the illegal trading of invoices that occurred at Green Energy Logistics Joint Stock Company (Green Energy Company) and Green Energy Petroleum Logistics Joint Stock Company (Green Energy Petroleum Company, both headquartered in Ho Chi Minh City) to the court, prosecuting 7 defendants for the crime of illegal trading of invoices.

They include: Nguyen Thi Thao Quyen - General Director of Green Energy Company, Chairwoman of the Board of Directors of Green Energy Petroleum Company; Nguyen Pham Xuan Trinh - Treasurer of Green Energy Company and Green Energy Petroleum Company; Nguyen Tram Quyen Thuong - Deputy Director of Green Energy Company; Nguyen Duc Thanh Nhan - Director of Duc Bao Thinh Transportation Company Limited; Le Thi Kieu, Le Thanh Phu and Tran Ngoc Chau.

In 2015, Green Energy Company and Green Energy Petroleum Company issued nearly 4,000 fake VAT invoices. Illustration photo: Ngoc Chau.

According to the indictment, taking advantage of the State's policies in the field of licensing business establishment and management of value-added tax (VAT) invoices in 2015, Thao Quyen colluded with Le Thi Kieu, Nguyen Pham Xuan Trinh, and Nguyen Tram Quyen Thuong to convert and establish a number of enterprises in Ho Chi Minh City to obtain legal entities to sell fake invoices and gain illegal profits.

After establishing the businesses, Quyen purchased 392 VAT invoices from La Quoc Dan and Le Thanh Phu. Quyen used the legal entity of 9 companies in Ho Chi Minh City to issue 1,679 VAT invoices to Green Energy Company and Green Energy Petroleum Company.

In addition, Quyen sold 78 VAT invoices to Tran Ngoc Chau and continued to sell 22 VAT invoices to other units. Through that, Quyen and the defendants appropriated a huge amount of money from the State.

In June 2015, through the introduction of Le Thanh Phu, Quyen discussed with Dan to buy and sell fake VAT invoices for gasoline products exported to Green Energy Company and Green Energy Petroleum Company to make a profit.

Both agreed that Dan would be responsible for the source of money to legalize the payment procedures for buying and selling goods through the bank; Quyen would provide a detailed list (DO oil data, unit price, total value of goods) for Dan to use as a basis for issuing fake invoices...

At the same time, Dan had his employees deposit money into the accounts of these two companies at Saigon Thuong Tin Commercial Joint Stock Bank. Using the above tricks, from June 2015 to February 2016, Green Energy Company and Green Energy Petroleum Company exported fake goods of more than 25.595 million liters of DO oil and transportation fees, the total amount recorded on 392 fake VAT invoices was nearly 340 billion VND.

According to the agreement between Quyen and Dan, the purchase price and selling price of fake VAT invoices are 165 VND/liter of gasoline stated on the invoice and 1.2% of the total pre-tax value stated on the invoice.

Thereby, Quyen promised to pay Dan more than 4.2 billion VND (in fact, Quyen only paid Dan 2.5 billion VND; the prosecution agency suspended the investigation against the defendant Dan because he had died). Quyen illegally profited nearly 4.5 billion VND, Tran Ngoc Chau benefited 133 million VND. The remaining defendants worked for Quyen, receiving monthly salaries of 5-10 million VND.

During the investigation of the case, the Ministry of Public Security's Security Investigation Agency (SIA) seized documents, invoices, and vouchers showing that: From January 2015 to December 2015, Green Energy Company and Green Energy Petroleum Company issued 3,996 VAT invoices for DO and FO petroleum products with a value of more than VND 5,000 billion to 101 enterprises. Of the 101 enterprises mentioned above, the Ministry of Public Security's Security Investigation Agency has not yet met the conditions to complete the investigation of 57 enterprises, so it will continue to investigate and clarify later.

According to Tien Phong