9 directors arrested for involvement in 4,000 billion VND fake invoice ring

On March 21, the Economic Police Department (PC03, Ho Chi Minh City Police) arrested 9 directors and one employee to investigate the illegal trading of invoices.

These business owners were accused of participating in the purchase and sale of more than 1,500 fake value-added invoices with sales of over VND200 billion, losing over VND20 billion in value-added tax.

This move was made by the investigation agency in the process of expanding the case of illegal purchase and sale of invoices. occurred in Ho Chi Minh City and other provinces led by Hoang Dang Ngoc My Trang.

The investigation agency determined that from April 2017 to March 2023, Trang and her accomplices established and used 41 "ghost" companies to illegally sell more than 35,000 value-added invoices to 6,476 different businesses and units in 52 provinces and cities; the total pre-tax value was more than 4,000 billion VND (value-added tax was nearly 400 billion VND, illegal profit was 60 billion VND).

In July 2024, the People's Court of Ho Chi Minh City sentenced Hoang Dang Ngoc My Trang to 5 years in prison for illegally printing, issuing, and trading invoices; 37 others, including Hoang Ngoc Phuong Tran (Trang's younger sister) received 4 years in prison.

The remaining 36 defendants were fined from 100 million VND to 1.2 billion VND; or sentenced to imprisonment from 9 months suspended to 5 years for the crimes of illegal trading of invoices and tax evasion.

To date, the Economic Police Department has prosecuted a total of 76 defendants, recovered approximately 60 billion VND in illegal profits and remedied tax evasion.."The investigation agency continues to expand the case, strictly handling individuals and businesses that use illegal invoices to create deterrence and general prevention," said a representative of PC03.