Police in the Mekong Delta's An Giang Province on Monday said they had busted a ring that stole more than half a million dollars worth of gold on June 24.
The thieves broke into Quoc Thang gold shop with pincers and an iron saw and stole around 600 teals of gold, worth more than VND10 billion ($524,000) at the time.
An Giang police cooperated with their counterparts in Takeo, Cambodia to stop the thieves from crossing the border.
Two organizers of the ring, Nguyen Van Nha, 39, and Nguyen Van Thanh, 33 from the nearby Dong Thap Province were caught on June 29 and 30 respectively.
Police found more than VND330 million, 25,500 US dollars, 3,000 Australia dollars, 1,000 Taiwan dollars and 105 teals of gold at their place. The gold was small items stolen from gold shops and has been cooked into larger pieces.
Nha and Thanh told police they and two Cambodians had successfully conducted ten gold thefts in the Mekong Delta provinces of An Giang, Dong Thap, Kien Giang and Vinh Long.
Nha has been charged with theft, gambling and keeping weapons illegally.
He bought many lots in Binh Duong and Dong Thap Provinces, and set up two fake firms to account for his sudden wealth.
Some of the gold he stole was donated to charitable causes around his neighborhood.
Police said they are further investigating the case to catch anyone else involved.