Police confiscate dollars in illegal foreign exchange trade

The Ministry of Public Security’s economic crime department (C46B)  on Monday confiscated US$500,000 and more than VND10.6 billion ($476,190) in an illegal foreign exchange trade busted last month in Ho Chi Minh City.

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Both seller and buyer will be fined VND75 million ($3,750) each.

Earlier on November 28, the crime department  caught Vu Quoc Dat, vice director of Minh Phuc Company illegally selling $500,000 to Huynh Thanh Nhat Hieu and Phan Anh Hue, both employees of Kim Mai Gold Shop.

The trade was conducted at a transaction counter of Eximbank in Phu Nhuan District, said a representative of the economic crime department. The department then confiscated the dollars and more than VND10.6 billion.

Dat was supposedly transferring the money to his company bank account.

By M.Hoa – Translated by T.Huong

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