As reported by VietNamNet, the Supreme People's Procuracy has just completed the indictment to prosecute 27 defendants in the case of Violating regulations on research, exploration, and exploitation of natural resources; Violating regulations on accounting causing serious consequences; Smuggling; Consuming assets obtained by others through criminal acts; Violating regulations on management and use of state assets causing loss, waste, and environmental pollution, occurring at Thai Duong Group Joint Stock Company and related units.

The accusation is that defendant Doan Van Huan, in his role as Chairman of the Board of Directors and General Director of Thai Duong Company, organized and directed the exploitation of rare earth and iron ore at Yen Phu rare earth mine from 2019-2023.

This tycoon illegally exploited minerals worth more than VND864 billion, of which the total consumption of rare earth and iron ore worth more than VND736 billion.

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Mining machinery in the Thai Duong Company premises. Photo: Hai Phung

Defendants Nguyen Van Chinh (Deputy General Director, Chief Accountant) and Nguyen Quang Manh (Executive Director of Yen Phu Mine, both under Thai Duong Company) assisted Doan Van Huan in directing the exploitation, management, monitoring of illegal exploitation, processing, and consumption output and in preparing a report on the results of fraudulent exploitation activities to send to State management agencies.

The actions of the above defendants constituted a crime of Violating regulations on resource exploitation. Mr. Huan played the main role in committing the crime.

Regarding the act of violating accounting regulations causing serious consequences, the accusation indicates that Mr. Doan Van Huan is the Chairman of the Board of Directors and General Director of Thai Duong Company, the person who directly manages and decides on all activities of the company.

Taking advantage of his position and authority, Mr. Huan discussed and agreed with Luu Anh Tuan (Chairman of the Board of Directors of Vietnam Rare Earth Company) and Dang Tran Chi (Director of Hop Thanh Phap Company) to falsify accounting documents, recording the value of rare earth and iron ore purchases and sales on invoices lower than the actual value.

After that, Mr. Nguyen Van Chinh contacted Tran Thi Hien (accountant of Vietnam Rare Earth Company) and Pham Thi Ha (accountant of Hop Thanh Phat Company) to conduct transactions, issue invoices, and do accounting according to the above agreed contents. Thereby, helping Mr. Huan leave out of Thai Duong Company's accounting books a total amount of more than 27 billion VND, causing a loss to the State in tax of more than 9 billion VND.

The actions of Huan and Chinh constitute the crime of Violating accounting regulations with serious consequences.

In this case, the defendants Ho Duc Hop (former Director of the Department of Natural Resources and Environment of Yen Bai province), Le Cong Tien (former Deputy Director in charge of the mineral sector), and Bui Doan Nhu (former Head of the Minerals Department) are the main people responsible at the Department of Natural Resources and Environment of Yen Bai province for managing mineral exploitation activities in the province, including the task of inspecting and examining compliance with the law on minerals; handling according to authority or recommending competent authorities to handle violations of the law on minerals.

According to the Supreme People's Procuracy, the defendants knew that Thai Duong Company had begun illegal exploitation, processing, and consumption at Yen Phu Mine, but did not recommend handling to promptly prevent damage to the State.

Defendant Nhu advised, defendant Tien approved the content for Mr. Ho Duc Hop to sign a document sent to Yen Bai Provincial People's Committee commenting that Thai Duong Company had complied with legal regulations in mining activities without checking and reviewing to accurately reflect the company's actual violations.

On that basis, the People's Committee of Yen Bai province sent a document to the Ministry of Natural Resources and Environment to issue a Mineral Exploitation License (extension), leading to Thai Duong Company continuing to illegally exploit, causing a loss of State minerals worth more than 736 billion VND.

The actions of the defendants Hop, Tien and Nhu constituted the crime of Violating regulations on management and use of State assets, causing loss and waste.