The Ho Chi Minh City People’s Court on January 27 sentenced Huynh ThiHuyen Nhu, former deputy chief of the Risk Management Department ofthe Vietnam Joint Stock Commercial Bank for Industry and Trade(Vietinbank), to life behind bars at her trial that started on January6.
Nhu, who was born in 1978 in the Mekong Delta province ofTien Giang, was charged with “swindling to appropriate assets” and“counterfeiting seals and materials of agencies and organisations”.
Her accomplice Vo Anh Tuan, former Deputy Director of Vietinbank’s NhaBe branch, born in 1972 in the northern province of Thai Binh, received20 years in jail for “swindling to appropriate assets”.
Huynh My Hanh and Tran Thi To Quyen, former Deputy Director and memberof Hoang Khai Investment JSC, were sentenced to 14 years behind barseach on the same charge.
Nguyen Thi Lanh, former DeputyDirector of Phuong Dong Investment JSC, and Dang Thi Tuyet Dung, formerDirector of Dung Van Limited Co., got nine years and 12 yearsrespectively for “swindling to appropriate assets” and “giving loanswith high interest rates”.
The court also gave jail terms ofbetween eight and 17 years to officials and staff of Vietinbank’sDien Bien Phu and Dinh Tien Hoang transaction offices and the VietnamInternational Commercial Joint Stock Bank (VIBank)’s Ho Chi Minh Citybranch for “violating lending regulations in operations of creditinstitutions”.
Sharing the charge of “irresponsibility causingserious consequences”, Luong Thi Viet Yen, Ho Hai Sy and Le Thi NgocLoi, former head, deputy head and member of Vietinbank’s Vo Van Tantransaction office, will spend seven, six and four years in jail.
The group of defendants charged with “giving loans with high interestrates” were sentenced to serve two years to 26 months and ten days inprison.
Pham Anh Tuan, former Director of Petro PacificCorporation, was given 14 years in jail on the charge of “abusingposition and power while on duty”.
The defendants werealso forced to refund the money they illegally appropriated , of whichnearly four trillion VND (188 million USD) Nhu took over from ninecompanies, three banks and three individuals.
The court alsoasked the Public Security Ministry’s Investigation Agency to continueprosecuting several defendants who had assisted Nhu to appropriatehundreds of billions of Vietnamese dong from VIBank’s Ho Chi Minh Citybranch and Phuong Dong Investment JSC.
They also suggestedinvestigating Nguyen Thi Minh Huong and Truong Minh Hoang, both DeputyDirectors of VietinBank’s Ho Chi Minh City branch, for their derelictionof duty in this case. They signed contracts with ACB staff withoutsupervising them, making it easier for Nhu to arrogate money from theAsia Commercial Joint Stock Bank (ACB).
According tothe court's indictment, in 2007, Nhu took advantage of her professionalposition to mobilise over 200 billion VND (9.43 million USD) from manybanks, organisations and individuals at high interest rates to invest inthe local property market.
In 2010, when the market stagnated, Nhu suffered huge losses and fell into insolvency.
From March 2010 until September 2011, under the pretext of mobilisingcapital for two Vietinbank branches, Nhu allegedly obtained loanstotalling 3.9 trillion VND from three individuals, nine companies andthree banks.
She also forged theseals of Vietinbank and companies including Phuc Vinh, Thinh Phat, HungYen, An Loc, Duc Minh Quang and Saigonbank Berjaya, as well as nearly200 documents, including 110 false contracts between Vietinbank's Nha Bebranch and individuals and agencies.
Tuan had actively supported Nhu in appropriating money from many banks, individuals and businesses.-VNA
Nhu, who was born in 1978 in the Mekong Delta province ofTien Giang, was charged with “swindling to appropriate assets” and“counterfeiting seals and materials of agencies and organisations”.
Her accomplice Vo Anh Tuan, former Deputy Director of Vietinbank’s NhaBe branch, born in 1972 in the northern province of Thai Binh, received20 years in jail for “swindling to appropriate assets”.
Huynh My Hanh and Tran Thi To Quyen, former Deputy Director and memberof Hoang Khai Investment JSC, were sentenced to 14 years behind barseach on the same charge.
Nguyen Thi Lanh, former DeputyDirector of Phuong Dong Investment JSC, and Dang Thi Tuyet Dung, formerDirector of Dung Van Limited Co., got nine years and 12 yearsrespectively for “swindling to appropriate assets” and “giving loanswith high interest rates”.
The court also gave jail terms ofbetween eight and 17 years to officials and staff of Vietinbank’sDien Bien Phu and Dinh Tien Hoang transaction offices and the VietnamInternational Commercial Joint Stock Bank (VIBank)’s Ho Chi Minh Citybranch for “violating lending regulations in operations of creditinstitutions”.
Sharing the charge of “irresponsibility causingserious consequences”, Luong Thi Viet Yen, Ho Hai Sy and Le Thi NgocLoi, former head, deputy head and member of Vietinbank’s Vo Van Tantransaction office, will spend seven, six and four years in jail.
The group of defendants charged with “giving loans with high interestrates” were sentenced to serve two years to 26 months and ten days inprison.
Pham Anh Tuan, former Director of Petro PacificCorporation, was given 14 years in jail on the charge of “abusingposition and power while on duty”.
The defendants werealso forced to refund the money they illegally appropriated , of whichnearly four trillion VND (188 million USD) Nhu took over from ninecompanies, three banks and three individuals.
The court alsoasked the Public Security Ministry’s Investigation Agency to continueprosecuting several defendants who had assisted Nhu to appropriatehundreds of billions of Vietnamese dong from VIBank’s Ho Chi Minh Citybranch and Phuong Dong Investment JSC.
They also suggestedinvestigating Nguyen Thi Minh Huong and Truong Minh Hoang, both DeputyDirectors of VietinBank’s Ho Chi Minh City branch, for their derelictionof duty in this case. They signed contracts with ACB staff withoutsupervising them, making it easier for Nhu to arrogate money from theAsia Commercial Joint Stock Bank (ACB).
According tothe court's indictment, in 2007, Nhu took advantage of her professionalposition to mobilise over 200 billion VND (9.43 million USD) from manybanks, organisations and individuals at high interest rates to invest inthe local property market.
In 2010, when the market stagnated, Nhu suffered huge losses and fell into insolvency.
From March 2010 until September 2011, under the pretext of mobilisingcapital for two Vietinbank branches, Nhu allegedly obtained loanstotalling 3.9 trillion VND from three individuals, nine companies andthree banks.
She also forged theseals of Vietinbank and companies including Phuc Vinh, Thinh Phat, HungYen, An Loc, Duc Minh Quang and Saigonbank Berjaya, as well as nearly200 documents, including 110 false contracts between Vietinbank's Nha Bebranch and individuals and agencies.
Tuan had actively supported Nhu in appropriating money from many banks, individuals and businesses.-VNA
