Bảo Tín Minh Châu boss arrested; impact on gold buyers uncertain

From a legal perspective, lawyer Diep Nang Binh, Head of Tin Thong Law Office, said people should not be overly worried. “The core value of assets does not change, but liquidity may face short-term obstacles,” he noted.

Legal ownership of purchased gold

Lawyer Binh said gold is considered an asset under Article 105 of the Civil Code 2015. He added that lawful ownership of gold by individuals is protected under Articles 158 and 163. This means that gold bars or jewelry purchased from Bao Tin Minh Chau, if their quality and fineness are maintained, retain their material value and are not dependent on the legal status of the selling company.

However, he cautioned that liquidity may be affected in the short term if the store network is sealed or operations are halted to support an investigation. In that case, buyers may not be able to resell the gold immediately to the company. Other gold shops in the market may still buy, but they may require re-inspection of quality, impose costs, or offer a lower price due to brand differences—an outcome he described as common when a brand faces legal trouble.

Accordingly, Lawyer Binh advised the public to stay calm and avoid panic selling in the short term.

Market rules and resale rights

Lawyer Hoang Van Ha of ARC Hanoi Law Firm said the public is not legally affected for gold already purchased, adding that property rights remain fully protected.

He cited Decree 24/2012/ND-CP as amended by Decree 232/2025/ND-CP, under which Vietnam’s gold market is managed with the state controlling bullion trading while allowing lawful circulation of gold among people. The decree framework also does not restrict individuals from buying, selling, or transferring gold.

Under these rules, people have the right to resell gold to licensed traders, transactions occur at market price, and the resale process does not depend on whether the initial seller is under investigation.

Company statement and governance changes

Later today, Bao Tin Minh Chau issued an official statement saying the company’s business activities are “currently normal and uninterrupted.” It said the company reorganized governance in recent years to be independent, transparent, and professional. The statement also said that since October 2024, Ms. Pham Lan Anh has been director and legal representative of the company, and that all financial obligations and rights of customers and partners are guaranteed in full. It further stated that all BTMC jewelry products meet strict standards for gold content, weight, and quality.

Investigation findings cited in the report

According to the investigation, Mr. Chau and his son Vu Minh Tu directed the accounting department to use multiple software systems to manage actual revenue and declare taxes, while deleting data to avoid detection.

Investigators determined actual revenue for 2020–2023 to be about 13,700 billion VND, describing a discrepancy of up to 9,700 billion VND compared with tax reports. The report said this resulted in a loss to the State budget of about 150 billion VND, and that during searches, tens of billions of dong in cash, land titles, and other valuable assets were seized.