Former Deputy Governor of the State Bank of Vietnam Dang Thanh Binh at the court (Photo: VNA) HCM City (VNA) – The high-level court in Ho Chi Minh City on December 10 reduced sentences for former Deputy Governor of the State Bank of Vietnam (SBV) Dang Thanh Binh and two other defendants involved in the losses of over 15 trillion VND (nearly 645.8 million USD) at the Vietnam Construction Bank (VNCB).
At the appeal trial, beginning on December 5, the court accepted part of the appeals filed by Binh, Pham The Tuan (former deputy head of the SBV’s supervision group), and Ngo Van Thanh (former member of the supervision group).
It rejected the appeals of Ha Tan Phuoc (former head of the SBV’s supervision group and former Deputy Director of the SBV branch in Long An province), and Le Van Thanh (former Chief Inspector of the SBV branch in Long An).
All the five defendants were found guilty of lacking responsibility, causing serious consequences.
According to the first-instance trial’s verdict last July, Binh was assigned to assist the SBV Governor in instructing the restructuring of six ailing banks, including Dai Tin Bank (the predecessor of VNCB). He knew that Pham Cong Danh, who later became chairman of the Board of Directors of VNCB, and his accomplices transferred shares at Dai Tin Bank before they were allowed to join the restructuring.
The appeal court said the previous trials on Danh and his accomplices showed that the group of investors led by Danh didn’t have financial capacity to take part in the restructuring. By using tricks, they used the money disbursed for Dai Tinh Bank’s loans to prove their financial capacity.
Binh and other defendants’ insufficient supervision and lax direction in ending violations allowed Danh and his accomplices to commit violations and lead to serious consequences – the losses of 15 trillion VND at VNCB.
The court upheld the defendants’ offence of “lacking responsibility, causing serious consequences”.
It revised the penalties for Dang Thanh Binh from three years to a suspended three-year sentence with five years’ probation, Pham The Tuan from one year to a suspended one-year sentence with two years’ probation, and Ngo Van Thanh from one and a half years to one year.
The respective two-year and two-and-a-half year imprisonment for Ha Tan Phuoc and Le Van Thanh were upheld. – VNA
VNA
