Employee goof-up at gold floor causes big loss

An employee of the ACB Gold Trading Center who missed a few zeros while punching in an order Tuesday enabled a customer to buy 90 taels of gold at VND17,000 each instead of VND17 million.

It happened at the center’s My Dinh Branch when a customer’s sale order was quoted on the electronic board at VND17,000. An investor grabbed the chance to place an order.

The transaction was successfully completed and the buyer immediately placed a sell order at VND 16.265 million a tael. A tael equals 37.5 grams and the value of the error translated to almost US$90,000.

The trading center management blamed it on the employee’s error, passed adjusting entries to fix the problem, and apologized to the buyer.

But the buyer has not accepted the trading center’s explanation and negotiations are still under way.

By Le Mai Thi – Translated by Phuong Lan

Other news