Transactions spread suddenly, the trick of blowing prices is obvious 

The Department of Competition and Consumer Protection recommends that people be careful when participating in sudden spread transactions to avoid major financial losses.

 Because the transactions of buying and selling mutant orchids are currently very valuable, while the valuation of mutant orchid products has no clear basis, the transactions are also made unclear.

Billions of transactions cause shock

Recently, the unusual fever of mutant orchids returned after a period of absence. Most recently, the online community stirred about the sale and purchase of Ngoc Son Cuoc orchids worth 250 billion VND that took place in Mao Khe, Dong Trieu, Quang Ninh. Before that, on March 12, on social networks, an image of a transfer of Bao Duy orchid with 5 white petals was spread for 18,888,888,888 VND. Tens and hundreds of billions of dong were brought to the transaction. The unusual fever of mutant orchids is taking place in many provinces and cities across the country, accompanied by “auctions” of tens and hundreds of billions of dong, which shakes public opinion.

Regarding this issue, the Department of Competition and Consumer Protection – Ministry of Industry and Trade said that recent spikes in trading activities are mainly about how to “blow up prices”, “make virtual prices”. To deceive some objects, it is understood that the parties themselves buy and sell mutant orchids at a very high price difference. This will stimulate the latter to buy at a higher price, until there is no next buyer, the person holding the mutant orchid will suffer damage because the product is not commensurate with the actual value.

In addition, there is some information reflecting that this may be just a “game to polish the name” of the objects, in fact there is no transaction. The Department of Competition and Consumer Protection recommends that people should be cautious when participating in sudden spike sales to avoid major financial losses.

How to handle?

Talking to reporters, lawyer Nguyen Tien Thuy – Viet Ly Law Office (Hanoi Bar Association) said that if the orchid deals mutate with a huge amount of hundreds of billions of dong, it is not a transaction. True translation, authorities need to clarify what is the motive and purpose of the transaction objects here? Are there signs of appropriation of other people’s property? In case there are grounds to believe that this is a fake transaction that makes other people believe, causing others to hand over money to these subjects with an amount of VND 2,000,000 or more, the subject will be handled for fraud. appropriate property according to the provisions of Article 174 of the Penal Code 2015. If the amount appropriated is 500,000,000 VND or more, the subjects who commit fraudulent acts to appropriate other people’s property will be subject to a prison term of from 12 to 20 years or life in prison.

According to lawyer Nguyen Tien Thuy, people need to be very careful because in some localities, there has been a situation of “blowing” the price of mutant orchids up to tens and hundreds of billion dong, causing many people to be deceived. islands, pouring all their assets into such deals. Police of Hoa Binh province and some provinces have prosecuted a number of objects for the act of forging mutant orchids to sell at high prices. Specifically, the police of Yen Thuy district (Hoa Binh) once issued a decision to prosecute the case, prosecute the accused, and arrest Ta Thi Suoi Van (SN 1992) residing in Team 2, Bao Hieu commune, Yen district. Thuy to investigate the behavior of “Scam to appropriate property through selling fake orchids on social networking sites”.

According to lawyer Thuy, the market for ornamental plants in general and flowers in particular does not have a fixed price, and Vietnam’s law does not regulate prices, so state agencies do not impose prices on transactions. This is a loophole for objects to “blow up prices” for profit. However, with unusual transactions, the authorities can verify, clarify the motives and purposes, clarify the behavior and assess the consequences for society to have grounds for handling.

With transactions that spread suddenly at unusual prices, tax authorities and economic police need to be responsible for clarifying to collect taxes for the State. If there is an act of “tax evasion”, they can be criminally prosecuted for the crime of “tax evasion” in accordance with the provisions of the 2015 Penal Code. In case the subjects admit that the transaction is forged, not the real transaction, it will be considered. adjudicating the act of illegally publishing information on the internet (this act is a violation of Articles 8, Article 16, Article 17, Article 18 of the Law on Cybersecurity, depending on the nature and severity of the situation, will be administratively sanctioned). or criminal prosecution). To prevent the “price-inflating” trick, each local government needs to capture the information. When discovering the case of organizing buying and selling events, 

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