Hanoi Police: There are businesses that hire people to line up to buy gold at a stable price.

Authorities inspected a gold and silver business and discovered violations - Photo: Provided by the police

On June 30, the Ministry of Public Security said that the Hanoi City Police Department of Economic Security identified a group of people hired to line up to buy gold sold by state-owned commercial banks and resell it to gold and silver trading enterprises.

The group lining up to buy gold for stabilization is very sophisticated.

Through the process of investigation and verification, the working group of the Economic Security Department identified a number of subjects who showed signs of hiring people to line up to buy gold at some branches of Vietcombank, Agribank ... to sell gold at a stable price in the city.

Initially, the police determined that there were about 4-5 separate groups, in each group there was a subject who collected the gold after the customers (suspected to have been hired) completed the gold purchase transaction with the bank.

According to the Ministry of Public Security, these groups all operate by transferring money in advance to group members. After getting a queue number, the subjects will wait their turn to buy gold.

Upon receiving gold from the bank, the buyers will concentrate on delivering the gold to the main subject. Some subjects move to other points to continue lining up to buy gold.

Tracking the movements of the main subjects, the scouts determined the destination to be gold and silver trading establishments.

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A store has 4 people lining up to buy 14 taels of SJC gold.

According to the police, a typical example is the BTTH gold and silver store in Nhan Chinh ward (Thanh Xuan district, Hanoi ) owned by Ms. D.TT, where 4 people lined up to buy gold.

In addition to Ms. T's husband, there were 3 other individuals lining up to buy gold at state-owned commercial banks.

At the gold selling points, these 3 individuals bought 4 taels of gold, then moved to the BTTH store.

Initial verification, police determined that individuals related to this store lined up to buy a total of 14 taels of SJC gold.

On June 17, the Economic Security Department coordinated with the Hanoi Market Management Department to establish three working groups to inspect compliance with legal regulations in gold buying and selling activities for organizations and individuals trading gold in Hanoi.

Checking at the BTTH store, it was discovered that Ms. T's husband was purchasing 1 tael of SJC gold from an individual for 81 million/tael, paying by bank transfer, without any invoices or documents.

According to the police, BTTH gold and silver store was not licensed to buy and sell SJC gold bars. At the time of inspection, the store could not present invoices or documents for some of the jewelry items being sold.

The inspection team drew up a record and temporarily seized administrative violation evidence of 1 tael of SJC gold, 232 gold jewelry rings and 48 white jewelry rings.

At Ha Trung street, working group No. 3, Economic Security Department and Market Management Department organized an inspection at TL Gold and Silver Trading Company Limited.

At the time of inspection, the authorities discovered that the company was purchasing 1 tael of SJC gold from an individual for 81 million VND/tael, paid by bank transfer.

The inspection team has drawn up a record and temporarily detained the administrative violation evidence.

"The incident of buying gold at a higher price than the bank sells shows that there is a phenomenon of gold and silver shop traders willing to pay a difference to buy SJC gold bars, which goes against the State Bank's stance on stabilizing the gold market," said Lieutenant Colonel Nguyen Dac Tai, head of the Monetary Security Team of the Economic Security Department.

Police said most of these establishments were not licensed to trade in SJC gold bars or foreign currencies, but were always willing to buy SJC gold bars at high prices for storage. These establishments then sold them at higher prices, causing instability in the gold market.

The Economic Security Department said that in the coming time, it will continue to monitor information about the gold market situation, coordinate with the State Bank and the Market Management Department to inspect gold and foreign exchange transaction points in the city.

At the same time, make realistic forecasts, thereby advising all levels on solutions to stabilize the gold market.

Please follow gold price developments here.

Source: https://tuoitre.vn/cong-an-ha-noi-co-doanh-nghiep-thue-nguoi-xep-hang-mua-vang-binh-on-20240630175246666.htm