Society

Trial held for former executives of Binh Son refinery company

A first-instance trial was held on January 21 for four former executives of Binh Son Refining and Petrochemical JSC on the charges of “abusing position and power to appropriate assets”.
Trial held for former executives of Binh Son refinery company ảnh 1Four defendants at the court (Source: VNA)

Hanoi (VNA) – The Hanoi People’s Court on January 21 opened afirst-instance trial for four former executives of Binh Son Refining andPetrochemical JSC (BSR) on the charges of “abusing position and power toappropriate assets” under Article 355, the 2015 Penal Code.

The defendants are VuManh Tung (born in 1974, former Deputy Director General of BSR), Nguyen HoaiGiang (born in 1968, former Chairman of BSR’s Council of Members), Pham XuanQuang (born in 1980, former Chief Accountant of BSR), and Dinh Van Ngoc (bornin 1973, former General Director of BSR).

The trial is the secondphase of the case involving former Chairman of the Board of Directors of the OceanCommercial Joint Stock Bank (OceanBank) Ha Van Tham, who was summoned to appearat the court as a person having rights and obligations related to the casealong with two former Directors General of OceanBank Nguyen Minh Thu and NguyenXuan Son.

According to the indictment,from 2009 to 2014, BSR – a subsidiary of the Vietnam Oil and Gas Group(PetroVietnam) based in the central province of Quang Ngai – made fixed-termand demand deposits at the Quang Ngai branch of OceanBank.

The move was madeunder PetroVietnam’s direction regarding the prioritisation of using servicesof OceanBank, to which PetroVietnam contributed 20 percent of the chartercapital.

As the then leaders ofBSR, in 2013 and 2014, the four defendants decided to deposit the company’smoney at OceanBank and received extra interest payment which was not includedin contracts. The extra interest was paid by then General Director of OceanBankNguyen Minh Thu, under the instruction of Ha Van Tham.

Vu Manh Tung receivedand appropriated 2.9 billion VND (124,800 USD) and 40,000 USD, while NguyenHoai Giang pocketed 2.9 billion VND; Pham Xuan Quang, 1.8 billion VND and20,000 USD; and Dinh Van Ngoc, 1.5 billion VND, the indictment reads.

The Supreme People’sProcuracy said there is sufficient ground proving that the four abused theirpositions and power to appropriate assets.

It also reported thatthree defendants – Tung, Giang and Quang had paid back all the appropriatedmoney while Dinh Van Ngoc had paid back more than half.

The trial is scheduledto last two days.–VNA
VNA
#Binh Son Refining and Petrochemical JSC #former executives #Hanoi People’s Court #Vu Manh Tung #Nguyen Hoai Giang #Pham Xuan Quang #Dinh Van Ngoc #OceanBank #Vietnam #Vietnamplus #Vietnam News Agency
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