Former SJC employee Nguyen Quoc Viet and his accomplice, Thai Xuan Binh, were each sentenced to 15 years in prison by the Ho Chi Minh City People’s Court for embezzlement.
The two defendants were accused of taking advantage of their positions in warehouse management to appropriate 30 taels of dented SJC gold bars for personal gain.
According to the case file, Viet had worked as a warehouse keeper at SJC since 2016.
He was aware that SJC purchased dented SJC gold bars at a higher price than 9999 gold raw materials.
Viet subsequently reached an agreement with Binh to take gold from the warehouse and replace it with lower-value 9999 gold material, allowing them to profit from the price difference.
On May 7, 2025, after the warehouse inventory had been completed, Viet removed 30 taels of dented SJC gold bars and handed them to Binh.
The gold was later brought to SJC for sale, but company employees detected irregularities and reported the matter to the police.
An inventory conducted by SJC subsequently confirmed that 30 taels of gold were missing from the warehouse under Viet’s management.
During the investigation, Viet and Binh also admitted to two other instances involving the alleged appropriation of a total of 44 taels of gold.
However, SJC stated that the gold had already been taken out of the warehouse for the production of finished gold rings.
Investigators therefore determined that there was insufficient evidence to prosecute the two defendants for these additional incidents.
Investigative services in Vietnam, visit at: https://vietpi.com