Dinh La Thang and other defendants at the trial. (Source: VNA) Hanoi (VNA) – A prison term from 18 to19 years has been proposed for Dinh La Thang, former Chairman of the VietnamNational Oil and Gas Group (PetroVietnam), who was accused of wrongdoings inthe group’s investment of 800 billion VND (over 35 million USD) into the OceanCommercial Joint Stock Bank (OceanBank).
On March 22, the Hanoi People’s Procuracyproposed penalties for the defendants involved in the case.
Thang and six other defendants faced the chargeof “deliberately violating State regulations on economic management causingserious consequences”.
Ninh Van Quynh (former chief accountant andformer head of the department of finance, accounting and auditing ofPetroVietnam) and Vu Khanh Truong (former member of the Member Council ofPetroVietnam) were proposed to spend 7 – 8 years in prison each.
The procuracy suggested a prison term from 30 to36 months for Nguyen Xuan Son (former Deputy General Director of PetroVietnam)and 24 to 30 months for Nguyen Xuan Thang (former member of the Member Councilof PetroVietnam).
From 24 to 30 months of non-custodial re-educationwas proposed for Nguyen Thanh Liem and Phan Dinh Duc, former members of theMember Council of PetroVietnam.
Another prison sentence from 17 to 18 years wasproposed for Ninh Van Quynh, who was also charged with abusing position andpower to appropriate assets since he reportedly appropriated 20 billion VNDwhile performing his duties.
The procuracy also asked the jury panel to banthe defendants from taking certain positions or jobs in five years since theyfinish the main penalties.
According to the procuracy, from September 2008,Dinh La Thang ordered and decided PetroVietnam’s investment in OceanBank sothat PetroVietnam became the strategic shareholder of this bank. Under hisorder, the other defendants actively carried out three contributions of thegroup’s capital totaling 800 billion VND to OceanBank.
Due to OceanBank’s poor capability andviolations committed by Ha Van Tham, former Chairman of OceanBank’s Board ofDirectors, the bank suffered serious losses, leading to the loss of the whole800 billion VND invested by PetroVietnam.
The procuracy said Dinh La Thang knewOceanBank’s poor capability and that before investing capital to become thestrategic shareholder of OceanBank, PetroVietnam must ask for permission of thethen Prime Minister. However, he had intentionally directed his inferiors tocommit violations before reporting to the Prime Minister and relevant agenciesto regularize their violations.
The procuracy said the defendants’ intentionalinfringement of State regulations on economic management was particularlydangerous for society. It not only caused a loss of a big sum of money (800billion VND) of the State but also violated the management of State assets andthe prestige of the State cadre contingent, and affected people’s trust inState-owned enterprises.-VNA
VNA
