Thanh Hoa gold shop with revenue of 5,000 billion: Revealing the "lightning-fast" capital increase process

(Dan Tri) - In more than 3 years, Kim Chung Gold and Silver Trading Company Limited has increased its capital 25 times, from 2 billion VND to 50 billion VND. Police determined that the company's revenue in the 2020-2025 period reached 5,000 billion VND.

As Dan Tri reported on December 9, the Thanh Hoa Provincial Police Investigation Agency announced that it had prosecuted and temporarily detained Nguyen Huu Binh (born in 1954, Director of Kim Chung Gold and Silver Trading Company Limited), Le Thi Thu Huong (born in 1960, Binh's wife) and Nguyen Thu Nga (born in 1990, Binh's niece) for tax evasion.

During the police investigation, it was determined that the company's revenue in 5 years (2020-2025) was up to 5,000 billion VND, but each month it only paid about 10 million VND in taxes. In addition, Binh and his wife also directed the creation of dozens of personal accounts off the books and did not declare them to the tax authorities.

According to the National Business Registration Portal, Kim Chung Gold and Silver Trading Company Limited was established in November 1995, headquartered in Hac Thanh ward, Thanh Hoa province.

Mr. Nguyen Huu Binh holds the position of Chairman of the Board of Directors and Legal Representative. Before November 2021, the enterprise had a charter capital of 2 billion VND, of which Mr. Binh contributed 680 million VND (equivalent to 34% of the capital); Mr. Nguyen Huu Phuc and Mr. Nguyen The Hoa each contributed 660 million VND, equivalent to the remaining 66% of the capital.

By early November 2021, the company increased its capital to VND 5 billion, the capital contribution ratio did not change significantly, Mr. Binh contributed 33.6% of the capital. By December 2023, the company continued to increase its capital to VND 20 billion. Shareholders and capital contribution ratio remained the same.

Police searched the residence of Nguyen Huu Binh and his wife (Photo: Thanh Hoa Police).

By last September, Kim Chung Gold and Silver Trading Company Limited increased its capital to 50 billion VND. Shareholders and capital contribution ratio remained the same, accordingly, Mr. Binh contributed 16.7 billion VND (equivalent to 33.4% of capital); Mr. Nguyen Huu Phuc and Mr. Nguyen The Hoa each contributed 16.65 billion VND, equivalent to the remaining 66.6% of capital. According to tax information, the enterprise only has 8 employees.

According to information from the investigation agency, from 2020 to present, Nguyen Huu Binh and his wife Le Thi Thu Huong have directed employees to create dozens of personal accounts to conduct gold trading transactions to evade taxes, not recording them in the company's accounting books, causing great damage to the state.

Just counting one account of employee Tran Thi Hong opened at BIDV Bank, in November and December 2024, there were transactions of up to 163 billion VND, the amount of tax evaded was about 500 million VND.

The Investigation Police Agency, Thanh Hoa Provincial Police are continuing to expand the investigation to handle related individuals and organizations according to the provisions of law.

Source: https://dantri.com.vn/kinh-doanh/tiem-vang-thanh-hoa-doanh-thu-5000-ty-he-lo-qua-trinh-tang-von-than-toc-20251210010553537.htm