Nguyen Xuan Son, former Director General of Ocean Bank at the court (Source: VNA) Hanoi (VNA) – The People’s Procuracy of Hanoion September 14 proposed the capital sentence for Nguyen Xuan Son, formerDirector General of Ocean Bank, and life in prison for Ha Van Tham, formerChairman of the Board of Directors of the bank, for their wrongdoings.
Specifically, a sentence of 16-18 years in prison isproposed for Son for “deliberately violating State regulations on economicmanagement causing severe consequences”, life imprisonment for “abusingposition and power to appropriate property”, and the death penalty for“embezzling property”, which are combined into the overall punishment of death.
Meanwhile, the procuracy asked for a sentence of 19-20 yearsin prison for Tham for “deliberately violating State regulations on economicmanagement causing severe consequences”, 18-20 years in prison for “violatinglending regulations of credit institutions”, a 20-year imprisonment for “abusingposition and power to appropriate property”, and a life sentence for““embezzling property”. The overall sentence is proposed to be life in prison.
Procurators also proposed imprisonment sentences of 24-27years for Ocean Bank former Director General Nguyen Minh Thu and 20-24 yearsfor Ocean Bank former Deputy Director General Nguyen Van Hoan Thu.
The defendants were also requested to compensate a total of1.576 trillion VND (69.3 million USD) for Ocean Bank. Nguyen Xuan Son alone wasasked to pay nearly 200 billion VND in compensation to Ocean Bank and more than49 billion VND to PetroVietnam. Hua Thi Phan was asked to return 500 billionVND to Ocean Bank.
According to the court’s verdict, when working as OceanBank’s Chairman of the Board of Directors, Tham and his accomplices, who areother former leaders and employees of the bank, committed a series of violationsof credit regulations, causing losses for the bank and seriously affecting theState’s monetary policies. Their violations resulted in losses of nearly 2trillion VND (88 million USD) for Ocean Bank.
Specifically, Tham directed his subordinates to approve a loan for formerChairman of the Vietnam Construction Bank’s Board of Directors Pham Cong Danhwithout guaranteeing the lending conditions, collateral and proper purposes,thus causing an economic loss of nearly 350 billion VND (15.3 million USD) forthe bank.
He had directed the bank’s staff to pay interest rates outside of mobilisingdeposit contracts for customers.
Son was found to coordinate with Tham to charge customers additional fees,triggering a loss of nearly 69 billion VND (3.02 million USD) for the bank andcustomers. Meanwhile, Thu instructed the bank’s branches to pay interest ratesoutside the mobilising deposit contracts, causing losses of 1.576 trillion VND(69 million USD).
The first-instance trial for the case began on August 28,and will last 20 days.
During the process of the trial, the investigation policeagency has launched several criminal cases related to the trial. -VNA
VNA
