City court sentences 11 in Agribank swindling case

vietnamnews

Update: April, 18/2017 – 17:00

The People’s Court of Hà Nội yesterday handed down sentences to 11 defendants related to a case of fraud that occurred at the Agriculture and Rural Development Bank, Nghệ An Branch, eight years ago. — VNA/VNS Photo Kim Anh

HÀ NỘI — The People’s Court of Hà Nội today sentenced 11 defendants in a fraud case that occurred at the Agriculture and Rural Development Bank, Nghệ An Branch, eight years ago.

Trịnh Khánh Hồng, 50, former chairman of the Board of Trustees and General Director of Tân Hồng Import-Export Company, was sentenced to life in jail for “asset misappropriation fraud” and 20 years for “swindling in order to misappropriate assets”.

Đỗ Đức Hưng, 61, former director of Agribank Hồng Hà, was given 23 years in jail, and Trương Đăn Dần, 43, was given 12 years in jail, both for “asset misappropriation fraud” and violating lending regulations.

Nguyễn Văn Mạnh, chief accountant of Tân Hồng company was sentenced to 11 years in jail for swindling to misappropriate assets.

The five defendants to receive custodial sentences, Đỗ Minh Hiền, former head of the planning unit of Agribank Hồng Hà, Đinh Văn Hải, former director of Đức Hùng Company, Trần Hữu Tuân, director of Giang Linh Company, Nguyễn Thị Mỹ, director of Thái An Company, and Đỗ Hữu Bách, director of Đức Hùng Company, were given from five to seven years in jail for fraudulent misappropriation of assets.

Two credit staff of Agribank Hồng Hà, Nguyễn Văn Thúy and Đinh Minh Đạo, were given three years probation.

According to the court indictment, in 2009, Trịnh Khanh Hồng set up a project with loans of US$20 million from Agribank to plant material forest. However when the loan was approved, Hồng used the money for his own purposes. He also created 965 fake invoices showing that he gave the money to households to plant trees.

Hồng worked with the other defendants to misappropriate more than VNĐ281 billion (US$12.8 million) from companies and borrowed another VNĐ200 billion ($8.8 million) from banks.

In this case, five former staff from Agribank Hồng Hà, who knew that Hồng was incapable of paying back the loans but didn’t want to have bad debts on their record, signed guarantee documents so that Hồng could borrow more money. — VNS

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This entry was posted in Anti-corruption - Chống tham nhũng, Governance - Công quyền and tagged , , by Trần Đình Hoành. Bookmark the permalink.

About Trần Đình Hoành

I am an attorney in the Washington DC area, with a Doctor of Law in the US, attended the master program at the National School of Administration of Việt Nam, and graduated from Sài Gòn University Law School. I aso studied philosophy at the School of Letters in Sài Gòn. I have worked as an anti-trust attorney for Federal Trade Commission and a litigator for a fortune-100 telecom company in Washington DC. I have taught law courses for legal professionals in Việt Nam and still counsel VN government agencies on legal matters. I have founded and managed businesses for me and my family, both law and non-law. I have published many articles on national newspapers and radio stations in Việt Nam. In 1989 I was one of the founding members of US-VN Trade Council, working to re-establish US-VN relationship. Since the early 90's, I have established and managed VNFORUM and VNBIZ forum on VN-related matters; these forums are the subject of a PhD thesis by Dr. Caroline Valverde at UC-Berkeley and her book Transnationalizing Viet Nam. I translate poetry and my translation of "A Request at Đồng Lộc Cemetery" is now engraved on a stone memorial at Đồng Lộc National Shrine in VN. I study and teach the Bible and Buddhism. In 2009 I founded and still manage dotchuoinon.com on positive thinking and two other blogs on Buddhism. In 2015 a group of friends and I founded website CVD - Conversations on Vietnam Development (cvdvn.net). I study the art of leadership with many friends who are religious, business and government leaders from many countries. In October 2011 Phu Nu Publishing House in Hanoi published my book "Positive Thinking to Change Your Life", in Vietnamese (TƯ DUY TÍCH CỰC Thay Đổi Cuộc Sống). In December 2013 Phu Nu Publishing House published my book "10 Core Values for Success". I practice Jiu Jitsu and Tai Chi for health, and play guitar as a hobby, usually accompanying my wife Trần Lê Túy Phượng, aka singer Linh Phượng.

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