CDPP v Vina Money Transfer Pty Ltd

Facts and summary

Guilty plea

The accused - Vina Money Transfer Pty Ltd, Van Ngoc Le, Tony Le, Khai Van Tran and Thi Huong Nguyen pleaded guilty to certain charges relating to cartel conduct and were (a) in the case of the company, fined $1,000,000 and (b) in the case of individuals sentenced to terms of imprisonment.

The conduct related to three money remittance businesses - Vina Money, Hong Vina and Hai Ha - that offered money transfer services from Australia to Vietnam, for which they charged a fee. The Court found the three businesses had entered into - and given effect to - contracts, arrangements or understandings containing cartel provisions (relating to setting a common exchange rate and the price for services) and that, but for those arrangements, they would have been in competition.

Charges were laid, Vina Money and four individuals pleaded guilty to certain of those charges and a conviction was recorded in relation to each of the offences to which they plead guilty. Each of the individuals were sentenced to a term of imprisonment, but each were released on a good behaviour bond.

Not guilty plea

One individual (Jamie Le) pleaded not guilty and charges were withdrawn against him on 8 September 2022.

Catchwords

CRIMINAL LAW – sentencing – cartel conduct –corporate offender pleaded guilty to giving effect to cartel provisions – individual offenders pleaded guilty to being knowingly concerned in those contraventions – where companies ran money remittance businesses in Melbourne and Sydney

Media

ACCC media releases

ACCC, First individuals are sentenced for criminal cartel conduct (8 September 2022)

ACCC, Charges laid against alleged forex price fixing cartel (11 April 2019)

Law firm commentary

Partick Clark, Christine Wong, Philip Aitken, Tomas Kemmery and Emily Ainsworth, ‘First Custodial Sentences for Cartel Conduct in Australia’ (Herbert Smith Freehills, 17 June 2022)

Clifford Chance, ‘Cartels update - A review of Australia’s criminal cartel regime in light of the Federal Court’s first criminal cartel jail sentence in Vina Money’ (July 2022)

Joanna Jary and Kayla Plunkett, ‘Money transfer cartel sent cash and received jail time’ (Holding Redlich, 6 July 2022)

Thomas Jones, ‘Australia: Do not pass go, do not collect 200 VND: Federal Court of Australia imposes first ever prison sentences for cartel conduct’ (Bird&Bird, 18 July 2022)

Kirsten Webb, Damiano Fritz and Linday Norton, ‘Federal Court hands down first-ever sentences against individuals for engaging in criminal cartel conduct’ (Clayton Utz, 14 June 2022)

News media

Ben Butler, ‘Money transfer business that was part of exchange rate-fixing cartel fined $1m’ (The Guardian, 9 June 2022)