Responding to representatives of the Procuracy, Tran Ngoc Anh, deputy general director of Nhat Cuong Company, admitted to having been told by Bui Quang Huy, general director of the company, to directly contact foreign suppliers for electronic products in bulk, and sell them under the company’s name.
Anh essentially admitted his involvement in the smuggling case.
Most of the imported goods did not include receipts or legal documents.
Various suppliers originated from China, and Bui Quang Huy dealt with most of the transactions.
Defendant Nguyen Bao Ngoc (CFO of Nhat Cuong Company) claimed to be tasked with listing new orders under the company’s warehouse.
Ngoc admitted to be aware of the products’ lack of legal invoices and documents.
Ngoc stated that Nhat Cuong Company had been fined for importing goods without VAT invoices multiple times.
Regarding the case, 13 defendants were tried for smuggling and assisting the general director in making over 2,500 transactions with more than 255,000 products worth some US$127 million.
Through Nhat Cuong Company’s retail outlets, Bui Quang Huy had sold nearly 255,000 products, earning an illicit profit of over US$9.5 million. The police will continue to look into any remaining supplier and delivery ring.