Bao Tin Minh Chau: All company activities are still going on normally

At 6:00 p.m. on April 6, just an hour after Hanoi Police announced that founder Vu Minh Chau and his son were being prosecuted, Bao Tin Minh Chau spoke up. This brand said that the case related to the leaders is being reviewed and clarified by the authorities according to the provisions of law. The company is seriously coordinating with the investigation agency and providing complete documents.

“All business activities are still going on normally and smoothly,” Bao Tin Minh Chau’s press release affirmed. The enterprise has consolidated its management apparatus towards independence. Since October 2024, Ms. Pham Lan Anh is the Director and legal representative of this company.

Bao Tin Minh Chau commits that all gold, silver and gemstone products the company provides to the market meet the standards of gold age, volume and quality. This enterprise will also thoroughly overcome previous problems, after receiving an official conclusion from the authorities.

As noted by VnExpresstrading activities of this brand are still taking place normally today. Since the morning, dozens of people have been present at Bao Tin Minh Chau’s facilities to transact. The number of people coming to buy is still larger than the number of sellers.

At 5:30 p.m. today, half an hour after Hanoi Police announced related information, more than a dozen people were still at the Bao Tin Minh Chau store on Cau Giay Street to buy gold. Meanwhile, there are almost no sellers.

According to an employee, today the company sells each customer a maximum of 1 plain gold ring, but is limited to one product per person. This brand also announced that it has run out of 0.5 tael rings, transactions over 20 million VND are required to transfer money.

At the end of the day, the brand listed the price of plain gold rings at 168.1 – 171.1 million VND per tael, down more than 3 million VND compared to yesterday.

On April 2, Hanoi Police prosecuted Mr. Vu Minh Chau, founder of Bao Tin Minh Chau, and Mr son Vu Minh Tu (Head of the Independent Assistant Department) and two female accountants were charged Violating accounting regulations causes serious consequences. The management agency accused Mr. Chau and his associates of their actions causing damage to the State budget of about 150 billion VND.

Bao Tin Minh Chau is one of the major gold brands in Hanoi, founded by Mr. Vu Minh Chau in 1995. Currently, the brand has 4 business establishments in Hanoi and more than 200 agents nationwide.

According to a report on the National Business Registration Portal, Bao Tin Minh Chau has a charter capital of 400 billion VND, as of January 26 this year. Of which, Mr. Chau holds more than 97% of the shares.