Former deputy governor of State Bank prosecuted hinh anh 1Former Deputy Governor of the State Bank of Vietnam (SBV) Dang Thanh Binh (Photo: VNA)

Hanoi (VNA) – Former Deputy Governor of the State Bank of Vietnam (SBV) Dang Thanh Binh has been prosecuted in relation to an economic crime worth 666 million USD at the Vietnam Construction Joint Stock Commercial Bank (VNCB).

The investigation department under the Ministry of Public Security said Binh will be investigated on the charge of lack of responsibility causing serious consequences relating to the case of Pham Cong Danh, former Chairman of the board of directors of the VNCB.

Based on evident collected while looking into the responsibility of the SBV’s monitoring team at the VNCB and some SBV units, the investigation department on September 8 issued the decision of prosecution against the 63-year-old former official, who will also be banned from leaving his residence.  

The same day, the Supreme People’s Procuracy of Vietnam approved the decision.

Following the first trial on the VNCB case, in which Danh was sentenced for 30 years in prison, the police initiated another investigation into the trillion-loans made since 2012 between the VNCB and another three banks: the Sai Gon Thuong Tin (Sacombank), the Tien Phong (TPBank) and the Vietnam Investment and Development (BIDV).

Police have concluded that the ex-banker caused additional losses of more than 6 trillion VND (around 266 million USD) in the second stage investigation into his case, solidifying the investigation’s record as the biggest economic probe in Vietnam’s history.

 With the previous indictment of causing 9 trillion VND of losses to the VNCB, the 63-year-old man is now allegedly responsible for a stunning total of 15 trillion VND (some 666 million USD) in bank losses.-VNA