Hanoi Court Sentences Z Holding Chairman to 30 Years

Photo courtesy of VN Express

A Hanoi court has sentenced Hoang Quang Thinh, the chairman of Z Holding JSC, to 30 years in prison for orchestrating a large-scale counterfeit milk operation that generated VND2.4 trillion (US$91.35 million). In a trial lasting ten days, Thinh, along with 17 other defendants, was found guilty by the Hanoi People’s Court. The case has been described as a significant violation of state regulations, impacting economic order, consumer rights, and public safety.

The three founders of Z Holding—Thinh, La Khac Minh, and Nguyen Van Minh—were convicted of crimes including "violating accounting regulations," "producing counterfeit food products," and "money laundering." Minh received a 30-year sentence, and Khac Minh was sentenced to 28 years. Fifteen others received sentences ranging from nine years to 15 months of suspended imprisonment.

The court highlighted the dangerous nature of the counterfeit operations, which targeted vulnerable populations such as children and seniors. The founders were ordered to return their illegal profits, which will be confiscated and added to the State budget. Despite claims of unintentional production of counterfeit goods, the defense argued the products did not contain harmful substances but were dismissed by the court, which emphasized legal definitions of counterfeit goods.

The defendants were accused of altering product formulas without adequate research or testing. Production director Pham Duy Tan admitted to creating formulations independent of scientific input, resulting in 4.2 million cans of fake products being sold. This generated substantial sales revenue but also resulted in government tax losses and money laundering activities.

Looking forward, the court's verdict demands the confiscation of illicit profits, and the case underscores the need for stringent regulations in food safety and business practices. The implications for consumer trust and industry standards are significant as authorities focus on enforcing stronger compliance measures, reported VN Express.

Key Takeaways

• A Hanoi court sentenced Z Holding's chairman to 30 years for counterfeiting.

• The case involved major violations impacting public safety and economic order.

• Convicted leaders required to surrender illicit profits to the State budget.

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Adapted by ASEAN Now from VN Express 2026-01-16