Nhat Cuong’s Office and Stores Raided by Police, Worries Arise

Diep Nguyen

14:48 10/05/2019

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The director of Nhat Cuong is Bui Quang Huy, born in 1974. Huy owns 90 percent of stakes in Nhat Cuong Mobile Company. Known by many as a rich businessman, Huy has keen interest in luxury cars and owns a collection of them.

Nhat Cuong’s Office and Stores Raided by Police, Worries Arise
On May 9th, all the offices and stores of Nhat Cuong were raided by the police, according to many local news channels. As reported, police launched the sudden investigation against Nhat Cuong and also raid the director’s private residence. 
Late Thursday, it was revealed that a lot of huge carton boxes were taken away from Nhat Cuong stores to the police stations and some Nhat Cuong staffs were called in custody. 
This news came as a shock because for several decades, Nhat Cuong has been the favorite flagship brand for many consumers, especially in the Hanoi area. By the time of the raid, Nhat Cuong run 9 stores. 
Nhat Cuong Mobile Company was established in 2001 with initial charter capital of VND 5 billion, so far the Nhat Cuong’ charted capital has surged to VND 38 billion. Nhat Cuong has 9 stores in Hanoi, one customer center in Hanoi and one research center in Ho Chi Minh city and Nhat Cuong used to target to become first in Vietnam in iPhone.
The director of the company is Bui Quang Huy, born in 1974. Huy owns 90 percent of stakes in Nhat Cuong Mobile Company. Huy is known by many as a rich businessman, has keen interest in luxury cars and now owns a collection of them. However, Huy is a low profile businessman and he has very limited appearance in public media.
Huy’s family currently resides in one apartment with the total area of up to 70 meters at the strategic location in Tay Ho district in Hanoi. Apart from Nhat Cuong Mobile, Huy also has special relation with Nhat Cuong Software Solution Company. 
In April 2018, Huy used to be the director and legal representative for Nhat Cuong software instead of Vo Minh Hieu.
Though being considered a new bee in the software field, but Nhat Cuong Software has won many public contracts in Hanoi like population database, residence software and online passport software.
The shocking raid of Nhat Cuong stores worried many Nhat Cuong’s customers. Thousands of them bought mobile phones or laptops from Nhat Cuong, some are having mobile phones and laptops repaired in Nhat Cuong stores. Now they are worred about how they can recover their assets.

DIEP NGUYEN

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