A Nhat Cuong Mobile store. Photo: YouTube.

The head of a technology and electronics company in Hanoi has been detained for alleged cross-border smuggling and concealing millions in revenue.

On Tuesday May 14, the anti-smuggling police launched an investigation into Bui Quang Huy, the VN Express reported.

The 45-year-old general director of Nhat Cuong Technical Services Trading Co. Ltd. is being probed for cross-border smuggling and concealing revenue.

Eight of his alleged accomplices have been arrested for the same charges as well.

According to police, Huy was leading a syndicate that took part in cross-border smuggling. The group reportedly had two sets of accounting books that hid trillions of dong in revenue.

The authorities conducted raids at nine stores and a warranty center of Nhat Cuong Mobile on May 9, where they seized thousands of cellphones, tablets and other electronic items. The establishments were then shut down.

Nhat Cuong Mobile, under Nhat Cuong Technical Services Trading, had charter capital of 38 billion dong (about US$1.6 million) and deals in the electronics, phone manufacturing, pawnbroking and even serve as a travel agency.

Bui and his accomplices are facing 12 to 20 years in jail if convicted on charges of smuggling and three to 12 years for violating state accounting regulations.

Leave a comment

Your email address will not be published. Required fields are marked *