Da Nang police "eradicate" inter-provincial invoice trading ring worth over 25,000 billion

On December 30, the Economic Police Department (Da Nang City Police) announced that the unit had just dismantled a large-scale illegal invoice trading ring, operating inter-provincially with a sophisticated and complex nature.

According to the Economic Police Department, through investigation, the unit discovered that NTMH (residing in Ngu Hanh Son district, Da Nang city) had illegally bought and sold invoices.

Through investigation and information collection, the police determined that from 2019 to present, H. has established 6 companies to illegally sell 736 invoices to 128 businesses and organizations in Da Nang and neighboring provinces, with a total turnover of more than 169 billion VND, earning a profit of 5.3% on pre-tax turnover.

To bypass the authorities, H. legalized it by purchasing 716 input VAT invoices (total revenue of nearly 166 billion VND) from 83 companies in Da Nang and Ho Chi Minh City at a price of 2.5 to 3.5% of the pre-tax invoice revenue.

From subject H., the Economic Police Department expanded the investigation, discovered and dismantled two VAT invoice trading rings in Da Nang and Ho Chi Minh City led by LMC (residing in Tan Phu district, Ho Chi Minh City), TTT (residing in Binh Tan district, Ho Chi Minh City) and D.TQH (residing in Hai Chau district, Da Nang City).

According to the police, these subjects established a total of 280 companies, initially determining that they sold 187,610 fake invoices with a total turnover of more than 25,000 billion VND (of which excluding tax revenue was more than 23,000 billion VND; VAT was more than 2,100 billion VND), illegally profiting about 500 billion VND.

Currently, the Economic Police Department has initiated a criminal case, prosecuting 16 defendants in this ring for the crime of "Illegal trading of invoices". Of these, the police have temporarily detained 12 defendants and banned 4 defendants from leaving their place of residence.

At the same time, in coordination with the Mobile Police Department, Cyber ​​Security Department, Logistics Department and Technical Department, 17 locations in Da Nang City and Ho Chi Minh City were searched - the residences and workplaces of the defendants...

Along with that, the Economic Police Department of Da Nang City Police has frozen all bank accounts of the defendants and related subjects with account balances of more than 3 billion VND, temporarily suspended transactions of 1 car and many real estates to serve the investigation of the case.

The investigation is being expanded.