Vietnamese police are investigating an international diamond ring accused of smuggling 28,000 gems worth nearly $11 million, with the country’s largest jeweller caught up in the probe.
The former head of Phu Nhuan Jewelry’s (PNJ) gem certification subsidiary was arrested earlier this month along with more than 30 others accused of involvement in a syndicate operating over several years.
Police have raided more than 20 establishments, including jewellery stores and homes of the accused, mostly in Ho Chi Minh City, the public security ministry said in a statement late on Tuesday.
State media reported on Wednesday that a number of establishments linked to the investigation have suddenly closed their doors.
Dang Ngoc Thao, the former director of PNJ Laboratory, is accused of falsely certifying gems sourced in India for resale in Vietnam, removing laser inscriptions and replacing them with the company’s own.
