Vietnam police bust huge transnational gold smuggling ring
Friday, September 30, 2022, 16:43 GMT+7
Vietnamese police on Wednesday busted a ring that had smuggled 198kg of gold from Cambodia into Vietnam, the Ministry of Public Security said on Thursday.
The smuggling ring had operated for a long time and involved many people in various localities before being broken up by the Department for Corruption, Smuggling, and Economic Crimes (PC03) in collaboration with police in Ho Chi Minh City and Tay Ninh Province, according to Lieutenant General To An Xo, spokesman for the Ministry of Public Security.
Ring members purchased U.S. dollars in Vietnam, transferred the currencies to Cambodia to buy gold, and then transported the precious metal back to Vietnam for consumption.
On Tuesday and Wednesday alone, the gang smuggled 198kg of gold, the official said, adding that police officers managed to unmask those masterminding the transportation and consumption of gold.
Officers seized 103kg of gold and cash worth more than US$2.8 million and VND26.7 billion ($1.12 million) from the ring, along with many related vehicles, tools, and exhibits.
Investigations are underway.
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