Hanoi (VNA) - The Hanoi People’s Court on August 21 openedlega❀l proceedings against a criminal case regardไing an illegal virtual goldtrading floor.
The case involves top managers of the Hanoi-based Khai ThaiConsultant Limited Company (KTIC).
KTIC General Director Hsu Ming Jung (also called Saga)from Taiwan and his six Vietnamese accomplices have been tried oncharges of swindling 264 billion VND (11.7 million USD) from more than 700investors.
Hsu Ming Jung, 42; Doan Thi Luyen, 30, managing director of thecompany; Nguyen Manh Linh, 30, director of the company; and Trinh Hoang Binh,42, the company’s chief accountant, have been charged with fraud pursuant toArticle 139 of the Penal Code.
Two other Vietnamese people, the managing directors of thecompany’s branches at the Plaschem Building in Hanoi, Dinh ThiHong Vinh, and at the Lotte Building in Hanoi, Tang Hai Nam,have been also charged with the same offence.
They were arrested in October 2014 after they were found settingup an illegal gold trading floor to cheat investors.
According to the indictment, Saga established the KTIC in November2011, with a charter capital of 20 billion VND. The company opened threebranches with 18 business offices.
Investigations showed that between December 2012 and September2014, the Taiwanese CEO and his accomplices illegally set up a gold tradingfloor to raise over 280 billion VND (12.4 million USD) at high interest ratesfrom 717 investors. They then appropriated most of the funds, police said.
The company had paid a total of 17.5 billion VND (777,000 USD) ininterest to the investors and appropriated over 264 billion VND.
Hsu Ming Jung and his accomplices used sophisticated methods tofraudulently take their funds via a fake investment trust, police said.
The company also offered lofty salaries and attractive bonuses toits employees attracting investment.
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The VNA delegation, led by General Director Vu Viet Trang, actively participated in the event, engaging in both professional and diplomatic activities.
In the context where AI dominates and produces vast volumes of content, the only sustainable path forward for journalism is to focus on high-quality content and core values. Journalism must redefine its mission - not to report the fastest, but to provide the most profound and trustworthy value.
Granma and the VNA have great potential for cooperation, especially in sharing content regularly, so that VNA products are published on Granma platforms and vice versa, thereby helping Cuban and Vietnamese people access true information and gain a deep understanding of each other's country and people.
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The strategic product, managed and operated by the Vietnam News Agency Digital Media Centre (VNA Media), is an official channel for popularising the Party and State’s information and documents as well as delivering mainstream and trustworthy news to both domestic and international audiences through various kinds of multimedia formats.
Since President Ho Chi Minh founded Thanh Nien (Young People) newspaper in 1925, the Vietnamese revolutionary press has become the voice of the people. During the resistance war against the colonialists, journalists took great personal risks to inspire patriotism and the will of rising up against foreign invaders.
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A hub for sharing best practices, the event aims to forge solutions for financial sustainability, public media contracts, audience engagement, content innovation, and newsroom restructuring. It is also a moment for Vietnam’s media to accelerate its progress and figure out what the “revolutionary press” means in a new era.
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The official launch of Emirates’ Dubai–Da Nang route on June 2 has sparked a “tourism revolution” for Vietnam’s central coastal city. Da Nang is emerging as a top destination for high-end travelers, particularly from the lucrative Middle Eastern market.
Hsu Ming Jung at the court hearing (Photo: VNA) 
