20-year prison term proposed for ex-Chairman of VNCB

A 20-year prison term has been proposed for Pham Cong Danh, ex-Chairman of the Board of Directors of the Vietnam Construction Bank (VNCB), for his involvement in the case of “deliberately violating State regulations on economic management, causing severe consequences” at VNCB.
20-year prison term proposed for ex-Chairman of VNCB ảnh 1The defendants listen to the HCM City procuracy's proposal of penalties (Source: VNA)

HCM City (VNA) – A 20-yearprison term has been proposed for Pham Cong Danh, ex-Chairman of the Board ofDirectors of the Vietnam Construction Bank (VNCB), for his involvement in thecase of “deliberately violating State regulations on economic management,causing severe consequences” at VNCB.

The People’s Procuracy of Ho Chi Minh Cityproposed penalties for Danh and 45 other defendants on July 30.

This is the second phase of the case and involvesDanh (who is also Chairman of the Board of Members and General Director ofThien Thanh Group), Tram Be (former Vice Chairman of Saigon Thuong TinCommercial JSB, also known as Sacombank), as well as 44 accomplices. 

In this phase, they are accused of causingeconomic losses of more than 6.1 trillion VND (263.73 million USD) to VNCB. Thefirst phase involved losses of 9 trillion VND (389 million USD).

The trial opened in January 2018, however onFebruary 7, the court decided to return the dossier of the case and requestfurther investigation. The first-instance trial was resumed on July 24.

The procuracy said the interrogation outcomesand evidence showed that Danh and his accomplices had received the right totransfer bank shares from Hua Thi Phan, former senior advisor of the managementboard of Trust Bank, and her accessories.

The reception of an underperforming bank, thepressure to raise charter capital, and the spending of bank funds on lookingafter clients were some of the key reasons that led Danh and his accomplices tocommit a series of violations.

In particular, Danh used 29 companiesestablished in his or other people’s names to borrow money from Sacombank,TPBank, and BIDV. Following that, he deposited VNCB money in these three banksas guarantees for the 29 companies’ loans, causing over 6.1 trillion VND inlosses to VNCB.

According to the procuracy, Tram Be and Phan HuyKhang (former General Director of Sacombank) directly discussed and agreed tolend Danh 1.8 trillion VND (77.83 million USD), but they asked Danh to useVNCB’s money to guarantee the loans and ordered their subordinates to carry outlending procedures.

When approving the loans, Be and Khang wereaware that Danh was VNCB Chairman, which meant under the Law on CreditInstitutions, he was not allowed to use his bank’s money as guarantees toreceive loans from other credit organisations. However, they stillintentionally ignored this rule and created conditions for Danh to borrowmoney, leading to substantial losses to VNCB.

The HCM City procuracy said Danh was themastermind and played the decisive role in this case. It proposed 20 yearsimprisonment for him. Given his 30-year prison term announced in the firstphase of the case, Danh will have to serve 30 years in prison (the highestlevel for a fixed prison sentence) if the court accepts the proposal.

Meanwhile, it was proposed that Tram Be beimprisoned for four to five years, Pham Huy Khang for three to four years, PhanThanh Mai (former General Director of VNCB) 12-14 years (which, if accepted,would go up to a 30 year sentence including the first-phase penalty).

Other defendants were proposed to receive betweentwo years of suspended sentence to 30 years of imprisonment.

Regarding asset recovery, the procuracy held itsdecision that the over 6.1 trillion VND be recovered from the three banks and returned to VNCB, now the Construction Bank. –VNA 
VNA

See more

At the meeting (Photo: VNA)

Binh Duong leads nation in online public services

Binh Duong is also developing a coordination framework between the provincial Public Administration Service Centre and such centres at the commune level to streamline administrative services.

Mineral resource discovery activities in the northwest region. (Photo: vietnamplus.vn)

40 gold mines discovered in northwest region

There are 40 gold mines with a total identified resource of 29.8 tonnes, and five copper mines with a total identified resource of over 13,000 tonnes in the northwest region.

Three staff members of the Department of Dyke Management and Disaster Prevention set off to join rescue efforts in Myanmar. (Photo: tienphong.vn)

Vietnam sends more personnel to rescue operations in Myanmar

This marks the first time that the staff members from the department have participated in the ASEAN-ERAT, demonstrating the spirit of “One ASEAN, One Response: ASEAN responding to disasters as one in the region” as affirmed in the ASEAN Leaders’ Declaration.

Deputy Minister of Education and Training Nguyen Van Phuc at the working session with representatives from 21 US higher education institutions in Hanoi on March 31. (Photo: Ministry of Education and Training)

Vietnam, US strengthen higher education cooperation

Deputy Minister of Education and Training Nguyen Van Phuc highlighted the growing educational partnership between the two nations, with 30,000 out of 200,000 Vietnamese citizens studying abroad being in the US. In the 2022-2023 academic year, Vietnamese students ranked fifth globally in terms of numbers of international students in the US, rising by 5.7%.

The Vietnamese rescue forces have worked tirelessly to locate survivors. (Photo: VNA)

Vietnam delivers 3 tonnes of aid supplies to Myanmar earthquake victims

The aid package includes antibiotics, digestive medications, cold and flu remedies, and basic healthcare equipment like blood pressure monitors, blood glucose metres, bandages, and disinfectants. The supplies also feature mosquito spray pumps and insecticides to prevent disease outbreaks in affected areas.

Tran Phu Loc Thanh, Director of the municipal Department of Agriculture and Environment speaks at the event. (Photo: VNA)

Can Tho plans to eliminate run-down houses before reunification anniversary

According to Tran Phu Loc Thanh, Director of the municipal Department of Agriculture and Environment, work has started on all 531 houses designated for renovation or reconstruction, benefiting poor households, near-poor families, and people with meritorious service to the nation, with 141 homes already completed and handed over to beneficiaries.

The day for honouring the Vietnamese language in overseas Vietnamese communities is launched on March 29. (Photo: VNA)

Preserving Vietnamese language: Inspiring future generations worldwide

Speaking at the event, Deputy Minister of Foreign Affairs Le Thi Thu Hang, who is Chairwoman of the State Committee for Overseas Vietnamese, highlighted that with over 6 million Vietnamese people living across 130 countries and territories, the Vietnamese language remains a vital bridge connecting them to the homeland and cultural heritage.

Vu Manh Hung, Chairman of Hung Nhon Group, speaks at the groundbreaking ceremony on March 29. (Photo: VNA)

Tay Ninh accelerates efforts to eliminate substandard houses for border communities

As part of this programme, a groundbreaking ceremony for the construction of 22 new homes for impoverished families in Tay Ninh’s border region took place on March 29. It is spearheaded by the Fund for the Poor of Tan Chau district, in collaboration with Hung Nhon Group, De Heus Group of Netherlands, and Tay Ninh’s National Assembly delegation.

A gathering of the Vietnamese community in the Republic of Korea. (Photo: VNA)

Vietnamese Association in RoK urged to strengthen unity

Vietnamese Ambassador to the RoK Vu Ho suggested the General Association of Vietnamese People enhance cooperation with organisations and businesses, promote dissemination of the Vietnam Village project in the RoK, and continue hosting annual Vietnamese language classes for children from multicultural families.

The Zalo page of the Ministry of Public Security (Photo: screenshot)

Ministry of Public Security launches Zalo page

Together with the ministry’s website and its Facebook page, the Zalo page is an official information channel of the public security force on the cyber environment, with the function of informing and popularising the Party's guidelines and policies, the State's policies and laws, and the MPS's regulations on ensuring security, order, and building the people's public security force.