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Former Vietnam gold agency CEO sentenced to 25 years for fraud
From Tuoi Tre News, Ho Chi Minh City, Vietnam
Tuesday, September 30, 2025
The People's Court of Ho Chi Minh City on Monday handed down a 25-year prison sentence to Le Thuy Hang, former CEO of Saigon Jewelry Co., for embezzlement and abuse of power.
She was also ordered to pay VND14 billion (US$529,905) in compensation to SJC and VND73 billion ($2.8 million) to the state budget.
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Hang was the principal figure in a high-profile corruption case involving 16 defendants tied to serious violations at SJC, a state-owned enterprise tasked by the State Bank of Vietnam with producing and refining gold bullion and stabilizing gold prices on the domestic market.
According to the court's findings, Hang exploited her position to orchestrate a complex scheme that allowed her and her accomplices to misappropriate gold and manipulate company finances for personal gain.
She directed subordinates to fabricate reports that exaggerated permissible gold wastage levels during the refining process. ...
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