6 accused of embezzlement, power abuse at gold trader SJC

They are from the Saigon Jewelry Company and related entities. Authorities have not revealed other details.

They face charges of embezzlement and abuse of power, Major General Hoang Anh Tuyen, the spokesman for the Ministry of Public Security, said merely at a government press conference on Saturday.

"The ministry is focusing on finding more evidence, expanding the investigation and recovering the appropriated assets."

The SJC is a state-owned enterprise under the HCMC People’s Committee and is the only entity authorized to produce gold bullion since 2014.

But the State Bank of Vietnam has recently proposed abolishing this monopoly to help narrow the gap between domestic and international gold prices.