In a significant case in Ho Chi Minh City, authorities have uncovered a network of over 100 'ghost companies' involved in the illegal sale of invoices totaling more than 6 trillion VND (approximately $250 million). The main accused, Dao Minh Tho and Trinh Trac Nhien, along with 40 other individuals, are facing charges related to the illegal sale of invoices and tax evasion. The trial is scheduled to take place from September 22 to 26.

According to the indictment, from 2016 to 2020, Tho assisted Bui Van Bao, who has already been prosecuted in a separate case, in purchasing 377 fraudulent invoices from 42 companies managed by Do Duy Linh. These invoices collectively amounted to over 107 billion VND. Between 2020 and 2021, Tho continued this illicit activity, acquiring more than 280 additional fraudulent invoices worth over 47 billion VND from 16 of Bao's companies.

From 2020 to 2023, Tho established a separate network, utilizing the identification cards of individuals who had lost them to create and modify company information. He acquired invoice templates, electronic invoicing software, and digital signatures, leading to the formation of 57 'ghost companies' that had no legitimate business operations. Through this scheme, Tho illegally issued over 9,000 fraudulent invoices, with a pre-tax total of more than 1.77 trillion VND, sold to 532 companies and organizations.

Prosecutors have determined that Tho profited over 10 billion VND from the illegal sale of more than 2,200 of the 9,600 fraudulent invoices. Meanwhile, Trinh Trac Nhien, who operated a separate but related scheme, is accused of overseeing the sale of a larger volume of fraudulent invoices. From 2020 to 2023, Nhien registered 51 'ghost companies' using borrowed or purchased identification cards, selling fraudulent invoices worth over 4.18 trillion VND to 431 companies nationwide.

Nhien is believed to have profited more than 36 billion VND from the sale of over 3,900 fraudulent invoices. The investigation revealed that Nhien colluded with Nguyen Thanh Nghia, a tax official, to facilitate these illegal activities by ensuring that the ghost companies were not scrutinized by tax authorities. Nhien allegedly paid Nghia over 3.8 billion VND in bribes to avoid detection.

The case highlights the extensive nature of corporate fraud in Vietnam and the challenges faced by authorities in combating such illicit practices. As the trial approaches, it is expected to draw significant public attention and scrutiny.