Former Deputy Governor of the State Bank of Vietnam Dang Thanh Binh (Photo: VNA)

HCM City (VNA) – The high-level court in Ho Chi Minh City on December 5 opened an appeal trial on the case of former Deputy Governor of the State Bank of Vietnam (SBV) Dang Thanh Binh and four accomplices in connection with the economic losses of over 15 trillion VND (656.2 million USD) at the Vietnam Construction Bank (VNCB).

At the first-instance trial on July 2 this year, Binh was sentenced to three years in prison on the charge of lacking responsibility causing serious consequences at the VNCB (now the Construction Bank). He appealed against the ruling, saying that it was not accurate when defining him as the key defendant in the case.

On the same charge, Ha Tan Phuoc, former head of the SBV supervision group and former Deputy Director of the SBV branch in Long An, received two years in jail, while Le Van Thanh, former Chief Inspector of the SBV branch in Long An got two and a half years, Ngo Van Thanh, former member of the SBV supervision group, - one and a half years; and Pham The Tuan, former deputy head of the SBV supervision group, - one year. Those four defendants asked for reduced sentences.

According to the jury at the first-instance trial, Binh, who was assigned to assist the SBV Governor in instructing the restructuring of six weak banks including Dai Tin Bank (the predecessor of VNCB), allowed Pham Cong Danh and his accomplices to join the management work and hold dominant shares at the VNCB, which enabled them commit violations of law, causing serious losses to the VNCB.

Also, as the person in charge of the SBV’s supervision agency and legal department, Binh had received reports on violations at the VNCB but he failed to make any instructions or decisions to end the violations.

Other defendants, who were members of the supervision group, had failed to properly do their duties, allowing Pham Cong Danh and his accomplices to withdraw money from the bank, causing serious consequences.

The appeal trial will last until December 11.-VNA