Disgraced former SJC chief ordered to pay back 10,800 taels of gold seeks leniency

In an appeal submitted to the People’s Court of HCMC, Le Thuy Hang, 55, said she is "not financially capable" of fulfilling the task, the court said on Oct. 20.

She also sought a reduction in her 25-year prison sentence for embezzlement and abuse of position and power while performing official duties as head of the state-owned company.

SJC was the only bullion producer in Vietnam until Oct. 11 when the state ended its monopoly.

Le Thuy Hang, former CEO of state-owned gold producer Saigon Jewelry Company, seen at the People's Court of HCMC in September 2025. Photo by VnExpress/Quynh Tran

At a trial earlier this month she was found guilty of buying gold from unapproved sources for production of bars.

Using both approved and unapproved gold, she produced 6,255 taels of bars and 11,503 taels of 37.5 gm of gold rings, the People’s Court of HCMC had said. A tael equals 37.5 grams or 1.2 ounces.

It had ruled that 10,800 taels were produced using gold obtained from unapproved sources, and ordered her to pay the government the amount as restitution. Hang argued that the figure was calculated incorrectly, as it also included legally produced volume.

She was also found guilty of other crimes, including appropriating 3.6 kilograms of gold and selling the precious metal in the black market.