The ‘diamond giant”s business owes more than VND 2 billion in insurance

On January 8, the Office of Nghe An Provincial People’s Committee said that the Chairman of the Provincial People’s Committee signed a decision to sanction an administrative violation of nearly 188 million VND with Thien Minh Duc Group Joint Stock Company, headquartered on Le Mao Street. , Vinh City, for violations in the insurance field.

According to the authorities, by November 30, 2024, the business was slow to pay mandatory social insurance, unemployment insurance, and health insurance for 108 employees, an amount of more than 2 billion VND.

Nghe An Provincial People’s Committee forced Thien Minh Duc to fully pay social insurance, unemployment insurance, and health insurance that were late and insufficient. In addition, businesses must pay interest on late and insufficient insurance payments according to regulations.

Within 10 days of receiving the sanctioning decision, if Thien Minh Duc does not voluntarily comply, it will be enforced.

Thien Minh Duc Group Joint Stock Company was established in 2001, with Ms. Chu Thi Thanh, 65 years old, as Chairwoman of the Board of Directors. The enterprise has an ecosystem with many subsidiaries and branches operating in the fields of petroleum, liquefied petroleum gas, real estate, paper and packaging production, logistics, restaurants, hotels, amusement parks, sea ​​transport…

Thien Minh Duc’s founding shareholder structure includes Ms. Thanh holding more than 68.25% of the shares; Mr. Chu Dang Khoa, known as the “diamond tycoon” is Ms. Thanh’s son, holding more than 31.65% of the shares. The remaining 0.1% is Mr. Vuong Dinh Quan.

This enterprise has just changed its business registration at the end of September 2023, with a charter capital of more than 2,000 billion VND. Of which, Ms. Thanh holds 77.15%; Mr. Khoa holds 22.77% and Mr. Quan holds 0.08%.

On January 3, many police officers went to work at Ms. Chu Thi Thanh’s house and the headquarters of Thien Minh Duc Company in Vinh City for many hours. Authorities have not announced the reason for this.

According to the conclusion of the Government Inspectorate at the end of 2023, this enterprise violated the use of the Petroleum Stabilization Fund and incorrectly declared environmental protection tax. From 2018-2021, the total environmental protection tax payable increased by nearly 3,300 billion VND.

In August 2024, Thien Minh Duc Group was administratively sanctioned by market management, stripped of its petroleum import and export license for 45 days (from March 6 to April 21) due to violating business conditions.

Through inspection, Thien Minh Duc Group did not meet the conditions of the petroleum distribution system. This enterprise was administratively fined 85 million VND. They were also stripped of their petroleum import and export business license for 45 days, from March 6 to April 21.

In December 2023, the Tax Department of Nghe An province issued a notice to postpone Ms. Thanh’s exit due to tax debt. In April 2024, the unit publicly announced the list of people who owe taxes and other revenues belonging to the State budget, of which Thien Minh Duc Group owes more than 1,030 billion VND.