Nguyen Thi Xuan, the 80-year-old chairwoman of Phuong Xuan Gold and Silver Company, one of the largest gold trading firms in Ha Tinh, has been indicted along with her deputy, Le Thi Anh Tuyet, for tax evasion. The Ha Tinh Police Department's Security Investigation Agency announced the indictment on July 10, 2023, after uncovering significant discrepancies in the company's financial activities.

According to investigators, Phuong Xuan Gold and Silver Company conducted transactions totaling nearly 5 trillion VND through personal accounts, while only remitting between 10 to 20 million VND in taxes to the state each month. The company is accused of evading approximately 1.3 billion VND in taxes.

During their management of the company, Xuan and Tuyet directed employees to sell gold and silver products without issuing proper value-added invoices, thereby omitting income from their records. To facilitate this tax evasion, they instructed staff and family members to open dozens of personal accounts to handle customer payments, bypassing the company's bank accounts.

From 2022 to 2024, Phuong Xuan Gold and Silver Company reportedly processed over 68,000 payment transactions through 21 personal bank accounts. Investigators have clarified more than 26,000 of these transactions, revealing that nearly 600 billion VND in revenue was unaccounted for and not declared for tax purposes.

In December 2025, multiple business locations of Phuong Xuan Gold and Silver Company, including those on Nguyen Cong Truc and Ngo Duc Ke streets in Ha Tinh, were closed, ceasing operations. This closure occurred after police inspections at the main business site, raising concerns among customers. To reassure clients, the company posted notices stating that it would temporarily close from December 26, 2025, to assist in the investigation regarding tax issues and other matters.

Phuong Xuan Gold and Silver Company has been a prominent and well-established brand in the gold trading sector in Ha Tinh for over 30 years.