Prosecution of Bao Tin Minh Chau case: Police seize 23.3 billion VND in cash, 7 red land-use certificates, and large quantities of gold and silver

Initial investigation results indicate that Bao Tin Minh Chau Co., Ltd.’s actual revenue from 2020 to 2023 was about 13.7 trillion VND, which differs from the company’s tax reports by about 9.7 trillion VND. The discrepancy allegedly caused a loss to the State budget of about 150 billion VND.

Prosecution decision and charged individuals

According to the Ministry of Public Security, the Criminal Police Department of Hanoi’s City Police has issued a decision to prosecute the case, charging four suspects with accounting violations causing serious consequences at Bao Tin Minh Chau Co., Ltd.

The investigation identifies the company’s business activities as production, trading, and other operations involving gold and jewelry. The case is led by Vu Minh Chau, who served as CEO and legal representative of the company.

Changes in legal representation and alleged accounting conduct

From October 28, 2024 to present, Vu Minh Chau is no longer the legal representative of the company. Prior to 2024, Vu Minh Chau and his son, Vu Minh Tu (Head of Independent Assistant), allegedly instructed accounting staff to use software including Hivi Gold, Hivi Gold Pro and Excel to manage and declare taxes, while using accounting software Misa to file taxes.

From late 2024 to the present, the investigation alleges that to avoid scrutiny by authorities, Vu Minh Chau instructed Vu Minh Tu and staff to delete all data on Hivi Gold and Hivi Gold Pro. The company allegedly switched to an Excel system with Fox AI to manage and track purchases and sales, with data filtered, checked, and aggregated by the accounting department before being uploaded to the Misa accounting software for tax declaration.

Revenue discrepancy and alleged impact on the State budget

The investigation determined that Bao Tin Minh Chau Co., Ltd.’s actual revenue for 2020–2023 was about 13.7 trillion VND, compared with tax reports that allegedly reflected a difference of about 9.7 trillion VND. This discrepancy is stated to have caused a loss to the State budget of about 150 billion VND.

Search results and seized assets

During searches of residences, workplaces, and business locations of Bao Tin Minh Chau and related persons, authorities seized 23.3 billion VND in cash, seven red land-use certificates, many documents and items, and a large quantity of gold and silver metals.

Latest prosecution update and ongoing investigation

On April 2, 2026, the Hanoi City Police investigation agency issued a decision to prosecute the case and prosecute Vu Minh Chau, Vu Minh Tu, and two accounting staff members of the company for the crime of violating accounting regulations causing serious consequences.

Authorities said the investigation agency continues to expand the case to clarify violations committed by the involved subjects and to prosecute in accordance with the law.