Many company directors arrested for illegal invoice trading

VCN – The investigation agency said that many companies have bought invoices from illegal invoice trading rings to use in financial activities, accounting, tax reporting…
Cases of illegal invoice trading detected Cases of illegal invoice trading detected
Warning of illegal e-invoice trading tricks Warning of illegal e-invoice trading tricks
Many company directors arrested for illegal invoice trading
Police officers executes an arrest warrant for suspects in the case. Photo: Provided by police

According to HCM City Police, regarding to the illegal trading ring of VAT invoices, the Police authority of District 10 has just prosecuted and arrested 11 more suspects, including many company directors.

Suspects have been prosecuted for illegal invoice trading specified in Article 203 of the Penal Code include: Tran Quang My, Director of Odyssey Restaurant Co., Ltd. (headquartered in District 1); Chau Hai Trung, Director of Nesshin Design and Construction Consulting Joint Stock Company (headquartered in Go Vap district); Phan Tan Mai Chinh, Director and Le Thanh Nhan, Deputy Director of Chau Gia Long An Construction and Design Consulting Company Limited (headquartered in Tan Thanh district, Long An province); Tu Nhu Anh, Director and Tran Duy Ca Dao, Accountant of Vuong Bao Long Trading Service Company Limited (headquartered in Di An City, Binh Duong Province); Le Van Truong, Director of Le Gia Security Services Company Limited (headquartered in Go Vap district);

Truong Quang Hai, environmental officer of Tan Thuan Company Limited (management company of Tan Thuan Export Processing Zone); Vo Huu Phi, Director and Ho Thuy Thuy Vi, accountant of Phu Thu Company Limited (headquartered in Binh Thanh district); Nguyen Quang Hanh, Phuc An Construction Engineering One Member Limited Liability Company (headquartered in Thu Duc City).

Earlier, the Police of District 10 discovered that some subjects have taken advantage of open policies to establish bogus companies and illegally traded VAT invoices. On January 11, the Police Department busted the illegal VAT invoice trading ring led by Nguyen Xuan Vinh and prosecuted five defendants.

Initial investigation results showed that Vinh and his accomplices had established and operated 26 bogus companies in District 10 and neighboring areas to illegally trade VAT invoices and make illegal profits.

From 2020 until now, through 20 of 26 bogus companies, they have issued over 12,000 VAT invoices to hundreds of businesses in HCM City and neighboring provinces, with a total value of VND2,500 billion, and earned tens of billions of illegal profits.

Suspects have bought legal entities of other subjects or collect identity cards of many individuals, then taken advantage of the open policy in business registration to establish bogus companies to illegally trade VAT invoices and hide their identity.

Vinh and his accomplices falsely declared the value of purchased goods to be equal to the value of sold goods to avoid suspicion and detection by the law enforcement authorities.

During the extended investigation of the case, the Investigation Authority determined that many companies have purchased invoices from the ring to use in financial activities, accounting, tax reporting, which violate provisions of the law.

By Le Thu/Ngoc Loan

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