Recorded on July 15, Kim Ly, Ngoc Tam, Ngoc Chau Au gold shops related to a number of defendants who were just prosecuted in the diamond smuggling case, are still in a state of closed doors.
Multiple changes in capital and ownership structure
Kim Ly Gold, Silver and Gems Co., Ltd. (Kim Ly gold shop) was established in 2002, headquartered at No. 34 An Duong Vuong, An Dong ward, Ho Chi Minh City. The enterprise is currently managed by Ms. Le Thi Ngoc My as Director cum legal representative.
The main business lines of the enterprise are buying and selling gemstones, handicrafts; buying and selling jewelry and handicrafts (excluding buying and selling gold bars). According to data on the Vietnam Tax Information Portal, the company is still operating.
Previously, in 2019, Mr. Ho Chi Ly was the legal representative cum Director of the enterprise. The main registered business line at that time was retailing other goods in specialized stores.
By 2020, the position of legal representative and Director was transferred to Ms. Le Thi Ngoc My. At the same time, the enterprise had a charter capital of 32 billion VND.
In the following years, the enterprise continuously increased capital. By 2023, charter capital was increased to 79 billion VND.
At the end of 2025, the enterprise announced its ownership structure including two capital contributing members, Mr. Ho Chi Ly and Ms. Le Thi Ngoc My, each contributing 39.5 billion VND, equivalent to 50% of charter capital. At the same time, the enterprise converted its operating model to Kim Ly Gold, Silver and Gems Co., Ltd.
Temporarily closed to review operations
Besides Kim Ly Gold, Silver and Gems Co., Ltd., Ngoc Chau Au Co., Ltd. is also a related enterprise.
Ngoc Chau Au Co., Ltd. (Ngoc Chau Au gold shop) was established in 2007, with Ms. Hoang Thi Thanh Nga as the legal representative. This company has 2 stores in Ho Chi Minh City: 83 Ly Thuong Kiet, Tan Hoa ward and 744A Tran Hung Dao, Cho Quan ward. The main business lines include buying and selling fine art sculpture stones; wholesale of natural gemstones, synthetic stones used for jewelry making; wholesale of tools and equipment for jewelry making.
By July 15, this enterprise had stopped operating but had not completed the procedures to terminate the validity of the tax code.
Immediately after the information that the leader was prosecuted, the European Jade Diamond brand issued a notice to customers. The business said that before the information related to European Jade Diamond shared in the media and social networks, the unit understood that customers had many worries and concerns.
According to the announcement, the business is coordinating with functional agencies in accordance with the law. All official information and conclusions will be announced by competent authorities. The business also requests customers to access information from official sources and wait for official conclusions, avoiding speculation or unverified information.
This brand also announced a temporary closure from July 11 to the end of July 24 to review and consolidate internal work, upgrade the operating system and complete the process to improve service quality before reopening. Problems arising during the temporary suspension of operations will be recorded and handled by the business after the store reopens from July 25.
In addition, Ngoc Tam Jewelry Company Limited (Ngoc Tam gold shop) was established in 2008, located at No. 38 An Duong Vuong, An Dong ward, Ho Chi Minh City. Ms. Nguyen Thi Lien is the legal representative. The main business line of the enterprise is retail of jewelry, fine art and gemstones.
