Ha Van Tham at the court (Photo: VNA) Hanoi, (VNA) - The HanoiPeople’s Court on March 8 sent the Ocean Bank case back to the nation’s mainprosecuting agency, the People’s Supreme Procuracy, for further investigationand reframing of charges.
In oneof the biggest economic crime cases in Vietnam, former Chairman of the Board of Directors of the OceanCommercial Joint Stock Bank (OceanBank) HaVan Tham and 47 other former leaders and employees ofthe bank are being tried for charges including breaching loan regulations ofcredit institutions, abusing positions and power while on duty andintentionally acting against State laws on economic management, causing seriousconsequences.
The panel of judgessaid the decision to hand back the case after an eight-day hearing was taken toclarify some of the defendant’s statements and to carry out furtherinvestigation into some aspects of the case.
For instance, the bank’s former director general Nguyen Xuan Son has been chargedwith intentionally acting against State regulations on economic management,causing serious consequences. However, the judges said this was incorrect andordered further investigations to make appropriate charges in line with thenation’s laws.
According to the judges,Son, who was the bank’s director general and representative of the capitalcontributed to the bank by the Vietnam Oil and Gas Group (PVN), had worked withTham to decide to illegally pay interest rates outsidedeposit contracts to customers. Although Son was moved to work as leader of PVNfrom May 11, 2011, he still directed former director generalof the bank Nguyen Minh Thu to continue paying the extra interest.
Abusing his prestige,position and the dependence of OceanBank on PVN, Son withdrew more than 246billion from the bank. His actions reflect an abuse of power, guiding illegalactivities to appropriate such a huge some of money from OceanBank, the judgessaid, adding that further investigation was needed to precisely identify hisviolations.
Regarding the loss of 800billion VND of PVN, the judges said it was necessary to make clear theresponsibility of Son and related people in investing, contributing capital,managing and using this money.
The judges also said some documentsin the files presented at the court did not match the statements of 34defendants, former directors of the bank’s branches or transaction offices, aboutthe payment of interest above deposit contracts for customers. Therefore,more investigation was needed to have an adequate legal basis to charge thedefendants.
According to the prosecution, the OceanBank staff committed extremely serious violationsin lending, mobilising deposits, and paying customers higher interest ratesthan the ceiling regulated by the central bank, causing heavy losses forthe bank and its shareholders, and hindering the implementation of Statemonetary policy.
Theindictment also stated that while holding the highest position at OceanBank, Tham personally directed theOceanBank Board of Directors to approve a loan to Pham Cong Danh, formerManaging Board Chairman of the Construction Bank.
The loan was approvedwithout meeting loan conditions and without collateral assets, causing lossesof nearly 500 billion VND.
Otherdefendants in the case include former director general Nguyen Xuan Son andNguyen Minh Thu, former deputy director general Nguyen Van Hoan and Le Thi ThuThuy, and former directors of OceanBank branches and transaction offices.
Tham, 43, was arrestedin October 2014.
Under Tham’s direction,OceanBank’s bad debts climbed to nearly 15 trillion VND (666 million USD), withpre-tax losses reaching more than 10 trillion VND as of March 2014.
The OceanBank case isone of the six biggest economic crimes that the Central Anti-CorruptionSteering Committee was asked to bring to trial by the first quarter of 2017.-VNA
In oneof the biggest economic crime cases in Vietnam, former Chairman of the Board of Directors of the OceanCommercial Joint Stock Bank (OceanBank) HaVan Tham and 47 other former leaders and employees ofthe bank are being tried for charges including breaching loan regulations ofcredit institutions, abusing positions and power while on duty andintentionally acting against State laws on economic management, causing seriousconsequences.
The panel of judgessaid the decision to hand back the case after an eight-day hearing was taken toclarify some of the defendant’s statements and to carry out furtherinvestigation into some aspects of the case.
For instance, the bank’s former director general Nguyen Xuan Son has been chargedwith intentionally acting against State regulations on economic management,causing serious consequences. However, the judges said this was incorrect andordered further investigations to make appropriate charges in line with thenation’s laws.
According to the judges,Son, who was the bank’s director general and representative of the capitalcontributed to the bank by the Vietnam Oil and Gas Group (PVN), had worked withTham to decide to illegally pay interest rates outsidedeposit contracts to customers. Although Son was moved to work as leader of PVNfrom May 11, 2011, he still directed former director generalof the bank Nguyen Minh Thu to continue paying the extra interest.
Abusing his prestige,position and the dependence of OceanBank on PVN, Son withdrew more than 246billion from the bank. His actions reflect an abuse of power, guiding illegalactivities to appropriate such a huge some of money from OceanBank, the judgessaid, adding that further investigation was needed to precisely identify hisviolations.
Regarding the loss of 800billion VND of PVN, the judges said it was necessary to make clear theresponsibility of Son and related people in investing, contributing capital,managing and using this money.
The judges also said some documentsin the files presented at the court did not match the statements of 34defendants, former directors of the bank’s branches or transaction offices, aboutthe payment of interest above deposit contracts for customers. Therefore,more investigation was needed to have an adequate legal basis to charge thedefendants.
According to the prosecution, the OceanBank staff committed extremely serious violationsin lending, mobilising deposits, and paying customers higher interest ratesthan the ceiling regulated by the central bank, causing heavy losses forthe bank and its shareholders, and hindering the implementation of Statemonetary policy.
Theindictment also stated that while holding the highest position at OceanBank, Tham personally directed theOceanBank Board of Directors to approve a loan to Pham Cong Danh, formerManaging Board Chairman of the Construction Bank.
The loan was approvedwithout meeting loan conditions and without collateral assets, causing lossesof nearly 500 billion VND.
Otherdefendants in the case include former director general Nguyen Xuan Son andNguyen Minh Thu, former deputy director general Nguyen Van Hoan and Le Thi ThuThuy, and former directors of OceanBank branches and transaction offices.
Tham, 43, was arrestedin October 2014.
Under Tham’s direction,OceanBank’s bad debts climbed to nearly 15 trillion VND (666 million USD), withpre-tax losses reaching more than 10 trillion VND as of March 2014.
The OceanBank case isone of the six biggest economic crimes that the Central Anti-CorruptionSteering Committee was asked to bring to trial by the first quarter of 2017.-VNA
VNA
