Trial opens for banking operation violations at BIDV

Hanoi (VNA) - The Hanoi People’s Court on October 26 opened the first-instance trial in the case relating to banking operation violations at the Bank for Investment and Development of Vietnam (BIDV).

As many as 12 people involved in the case were brought to the trial.

Tran Bac Ha, former chairman of BIDV, was determined to be the mastermind behind the violations. However, he died in prison in July last year after a long illness so his conviction was suspended.

The accused include Tran Luc Lang and Doan Anh Sang, former deputy general directors of BIDV; Kieu Dinh Hoa, former deputy director of BIDV’s Ha Tinh Branch and Le Thi Van Anh, former customer service head of the branch; Ngo Duy Chinh, former director of BIDV’s Ha Thanh Branch, Nguyen Xuan Giap, former deputy director of the branch, Pham Hong Quang, former head of customer service division and Dang Thanh Nam, an official in charge of customer management of the branch. They would be prosecuted on charges of violating banking regulations.

Other suspects who are accused of abusing trust to appropriate property include Doan Hong Dung, former director of Trung Dung company; Tran Anh Quang, former director of Binh Ha company; Dinh Van Dung, former director general of the Binh Ha company and Nguyen Thi Thanh Son, former director of Ha Nam company.

According to the indictment, from 2011 to 2016, taking advantage of his position, Ha made a number of wrong-doings such as violating democratic centralism principles and working regulations to pour money into companies that were set up by himself.

Specifically, Ha directed the establishment of two companies including An Phu Joint Stock Company which was owned by Tran Duy Tung – Ha’s son and the Binh Ha Livestock Joint Stock Company. Ha also instructed and approved the granting of credit with incentives which go against regulations of the State Bank of Vietnam (SBV) and BIDV despite the fact that the two companies did not have enough financial capital to carry out the project nor were they eligible for credit extension as prescribed by the SBV and BIDV.

The action has resulted in a loss of more than 1.5 trillion VND (64.2 million USD) to BIDV.

The trial is expected to last for ten days./.