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Vietnam police nab director of 11 shell companies over trade of fake VAT invoices

Vietnam police nab director of 11 shell companies over trade of fake VAT invoices

Sunday, November 17, 2019, 16:26 GMT+7
Vietnam police nab director of 11 shell companies over trade of fake VAT invoices
Nguyen Thi Hang is being held at the police station in the Central Highlands province of Lam Dong. Photo: D.Huy / Tuoi Tre

Police in Vietnam’s Central Highlands have arrested the director of 11 shell companies, an important member of an illicit ring that traded counterfeit VAT invoices.

Officers in Bao Loc City, Lam Dong Province confirmed on Saturday they had apprehended five members of the fake invoice ring following their two-year investigation.

Among the suspects, Nguyen Thi Hang, 41, had been running a total of 11 shell companies that traded fake VAT invoices worth nearly VND100 billion (US$4.3 million).

Officers probe Hang’s office. Photo: D.Huy / Tuoi Tre

Officers probe Hang’s office. Photo: D.Huy / Tuoi Tre

Police began their investigation in October 2018 after discovering that the An Phu building material store, which was owned by Hang, showed signs of using counterfeit VAT invoices.

The comprehensive probing revealed that Hang had used the IDs of her relatives and acquaintances to establish the shell companies between 2014 and 2017.

The firms did not have any warehouse or product and were headquartered at the homes of her relatives.

The seals of Hang’s shell companies. Photo: D.Huy / Tuoi Tre

The seals of Hang’s shell companies. Photo: D.Huy / Tuoi Tre

Nga, another member of the ring, also followed in Hang’s footsteps and opened five shell companies to assist the ring’s operation.

Competent authorities have worked with a total of 27 enterprises that had had purchased the fake invoices from Hang and Nga’s shell companies.

All of these enterprises specialize in selling building materials, officers stated, adding that the ring had pocketed one to three percent of the invoices’ value.

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