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Investor sues gold trading floor, claiming 1.7 billion dong   2010-01-26 - VNE

Making a profit of 1.7 billion dong from 33 transactions on Vang The Gioi gold trading floor, Nhi, a gold investor, could not withdraw the sum of money. The gold trading floor, reasoning a system error, refused to pay.

 

Nguyen Thi Ngoc Nhi, a gold investor of Vang The Gioi gold trading floor, took legal action against the trading floor, claiming 1.7 billion dong.

The District 1 Court in HCM City on January 19 handled the case, where Nguyen Thi Ngoc Nhi, a gold investor of Vang The Gioi gold trading floor, took legal action against the trading floor, claiming 1.7 billion dong.

 

In the petition, Nhi wrote that on October 26, 2009, Nhi made 33 transactions of purchasing and selling gold on account at the gold exchange. After the transactions, Nhi realized that she could withdraw 1.7 billion dong, which includes 39 million dong in principal and interest.

 

According to Nhi, the profit was recognized by Vang The Gioi gold trading floor with an automatic message to her mobile phone. All the data was also displayed in the gold trading floor’s transaction history. Other print documents provided by Vang The Gioi about the status of the accounts and the transaction history on October 26 also have the same information.

 

However, when Nhi tried to withdraw her money, Vang The Gioi refused to pay, saying that the trading floor did not recognize the transactions because system errors might have occurred or the system was hacked . The trading floor also blocked the account of the investor

 

Vang The Gioi offered to pay 21 percent of the total sum of 1.7 billion dong to Nhi, who rejected the offer and required 50 percent of 1.7 billion dong.

 

As the two sides failed to reach an agreement, Vang The Gioi asked for help from Internet security agencies to find out if there are system errors or hackers. The gold exchange has also reported the case to the police.

 

“The investigation agencies have summoned involved parties many times to clarify information, but there is no evidence that shows that I deliberately interfered with the transaction network of Vang The Gioi, or that an error occurred during the transactions,” Nhi averred.

 

“Therefore, I decided to take legal proceedings against Vang The Gioi in order to protect my rights,” she added.

 

Lam Minh Chanh, General Director of Vang The Gioi Finance Investment Company told VnExpress newspaper that the gold exchange is still negotiating with Nhi. “However, if Nhi has decided to take legal proceedings against us, we are ready to appear in court,” he responded.

 



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