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HCM City begins trial on intentional violation of rules at Navibank

The Ho Chi Minh City People’s Court on February 28 opened the first-instance trial on the case of deliberately violating State regulations on economic management causing serious consequences at Navibank, now National Citizen Commercial Joint Stock Bank.
HCM City begins trial on intentional violation of rules at Navibank ảnh 1The defendants who are former chiefs at Navibank are brought to trial on February 28 (Photo: VNA)

HCM City (VNA) – The Ho Chi Minh City People’sCourt on February 28 opened the first-instance trial on the case ofdeliberately violating State regulations on economic management causing seriousconsequences at Navibank, now National Citizen Commercial Joint Stock Bank(NCB).

The 10 defendants brought to trial are formerGeneral Director Le Quang Tri, former Deputy General Directors Cao Kim SonCuong, Nguyen Giang Nam and Nguyen Hung Son, and six others who are formerheads of different divisions at Navibank.

They are charged with deliberately violatingState regulations on economic management causing serious consequences.

This case is related to the swindle involvingHuynh Thi Huyen Nhu, former deputy chief of the risk management department ofthe HCM City branch of VietinBank.

Earlier, the appeal judging council of the HuyenNhu case had overturned part of the verdict issued at the first-instance trial,requesting more investigation into Huyen Nhu’s acts in the misappropriation of1.285 trillion VND (56.1 million USD) of some companies, persons and banks. 

The appeal verdict also requested theinvestigation agency clarify the responsibility of some competent persons atNavibank who had allegedly mandated the bank’s employees to deposit money inthe Nha Be branch of Vietinbank to profit from an interest rate that exceededthe ceiling rate, through which Huyen Nhu appropriated Navibank’s money.

Huyen Nhu, Vo Anh Tuan – former Deputy Directorof the Nha Be branch of Vietinbank, and 11 other persons relevant to the casewere summoned to the court on February 28.

According to the indictment of the SupremePeople’s Procuracy, from November 19, 2010 to May 27, 2011, the credit councilof Navibank, which comprised Le Quang Tri, Cao Kim Son Cuong, Nguyen Hung Son,Nguyen Giang Nam, Tran Thanh Binh (former chief of the division for relationswith client businesses), Dinh Thi Doan Trang (former chief of the client servicesdivision), Pham Thi Thu Hien (former chief of the legal division), and NguyenNgoc Oanh (former chief of the risk management division), signed a documentgiving credit of 1.543 trillion VND (67.4 million USD) to 14 employees wholater deposited the money in the Nha Be branch of Vietinbank to gain the extrainterest that was not shown in contracts.

The extra interest that Huyen Nhu paid was morethan 24 billion VND (1 million USD), of which over 15 billion VND was transferredto the account of Huynh Vinh Phat (former chief of the accounting division) andover 9 billion VND in cash given to Doan Dang Luat (former chief of the capitalsource division).

Huyen Nhu took advantage of the defendants’ actsto appropriate 200 billion VND (8.7 million USD) of Navibank, the indictmentread.

The first-instance trial is scheduled to lastuntil March 16.-VNA
VNA
#Navibank #National Citizen Commercial Joint Stock Bank #State regulations on economic management #Huynh Thi Huyen Nhu #VietinBank #updated Vietnam news #Vietnamplus #Vietnam News Agency
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