4 suspects prosecuted over alleged smuggling of over 3,400 diamonds into Vietnam

Police officers seized an additional 354 diamonds worth nearly VND69 billion (US$2.63 million).

The four suspects are Pham Thi Hong Duyen, head of the business department at Saigon Jewelry Company Limited (SJC); Tran Cong; Tran Huu Thanh Quan; and Hoang Trung Bac, all residents of Ho Chi Minh City.

Initial investigation results show that from 2022 to 2024, Le Thuy Hang, who was general director of SJC at the time, directed Duyen to arrange the purchase of smuggled diamonds from Hong Kong and have them illegally transported to Vietnam for sale through SJC's retail store network.

Duyen directly contacted suppliers and received the smuggled diamonds.

After the diamonds were transported into Vietnam, Cong sold them to SJC, while Quan and Bac directly delivered the smuggled diamonds to the company.

To conceal the origin of the diamonds and avoid detection by authorities, Duyen used the personal information of various customers to record the diamonds in SJC's management system as if they had been purchased from individual customers.

Using this method, the smuggled diamonds were given legitimate-looking paperwork before being put up for sale.

After being entered into the company's management system, all the smuggled diamonds were sent to Rong Vang SJC, an inspection unit of SJC, for testing before being placed in storage and distributed to the market.

To avoid detection, the suspects divided the diamonds into smaller batches for each inspection, allowing them to legitimize the paperwork and create a legal cover for the smuggled diamonds.

Based on initial investigation results and statements from the suspects, Thanh Hoa police determined that from 2022 to 2024, the ring had smuggled more than 3,400 diamonds, with a total estimated value of over VND500 billion ($19 million), into SJC's retail network for sale, generating illegal profits.

The four suspects were prosecuted as part of the latest development in a diamond smuggling investigation launched by Thanh Hoa police in early July.

The diamonds were transported by air through airports in Vietnam.

Thanh Hoa police are continuing to investigate the case.

Previously, Thanh Hoa police also dismantled another diamond smuggling ring, prosecuting 22 suspects and seizing 1,100 diamonds.

The ring was estimated to have generated around VND280 billion ($10.7 million) in total revenue from diamonds sold on the market. 

Thanh Hoa police advised people to purchase diamonds from reputable businesses with clear addresses, valid operating licenses, established brands, and adequate invoices and documents, as well as quality inspection certificates issued by reputable appraisal organizations.

People should not fall for advertisements offering diamonds at unusually low prices or high-return investment schemes involving the sale, consignment, or capital contribution of diamonds on social media or unverified online trading platforms.

Anyone who detects suspicious signs, such as the sale of fake diamonds, forged inspection certificates, diamond smuggling, fraud in diamond transactions, or illegal fundraising involving diamonds, should immediately report them to police for guidance and handling in accordance with the law.