Trinh Xuan Thanh, former Chairman of the Board of Directors of PetroVietnam Construction Corporation (PVC) (Source: VNA)

Hanoi (VNA) – The People’s Procuracy of Hanoi on January 25 proposed a life sentence to Trinh Xuan Thanh, former Chairman of the Board of Directors of PetroVietnam Construction Corporation (PVC), on the charge of “asset embezzlement” at PetroVietnam Power Land JSC (PVP Land).

A 17-18 year imprisonment was sought for Dao Duy Phong former Chairman of PVP Land’s Board of Directors; while 14-15 years of imprisonment was suggested for Nguyen Ngoc Sinh, former PVP Land General Director.

The procuracy demanded prison terms of 11-12 years for Dinh Manh Thang, former Chairman of the Board of Directors of Song Da Oil and Gas Investment and Commerce JSC; Thai Kieu Huong, former Deputy General Director of Vietsan Investment JSC; and Huynh Nguyen Quoc Duy, a self-employed trader.

Prison terms of 9-10 years and 8-9 years were proposed for Le Hoa Binh, former Chairman of the Board of Directors of the 1/5 Construction and Services JSC and Minh Ngan JSC; and Nguyen Thi Kim Thoa, former chief accountant of the 1/5 Construction and Services JSC and Minh Ngan JSC, respectively.

However, Binh and Thoa are serving their sentence of life imprisonment on charge of “fraudulent appropriation of property” at the 1/5 Construction and Services JSC following verdict No. 134 issued on March 15, 2017. Therefore, the combined penalty for the two is life imprisonment.

All these defendants are charged with “asset embezzlement” in accordance with Article 278, Clause 4 of the 1999 Penal Code.

According to the procuracy, investigation results and questioning of the defendants at the trial showed that Thanh, Thang, Huong, Phong, Sinh and Duy contacted and connived with Binh and Thoa to implement the signing of a transfer contract at the Nam Dan Plaza project with the price of 34 million VND (1,506 USD) per sq.m, lower than the deposit price of 52 million VND (2,303 USD) per sq.m, to appropriate a differential sum of more than 87 billion VND (3.86 million USD).

Of the money, Thanh arrogated 14 billion VND, while Thang pocketed 5 billion VND; Phong, 8 billion VND; and Sinh, 2 billion VND. Dang Si Hung, chief of PVP Land economic and planning division, who died during the investigation, appropriated 20 billion VND. Due to his death, the Supreme People’s Procuracy decided to cancel the investigation against him.

The defendants received a total of 49 billion VND from the deal.

Among the defendants, Thanh was said to have the decisive role in the case.

As many as 16 lawyers registered to represent the defendants, six of which defend Thanh.

The trial is scheduled to last for two weeks. - VNA