Five new imported Covid-19 cases raise Vietnam’s tally to 1,312
thamnguyen99 24-11-2020, 14:37

The Saigon Times

Five new imported Covid-19 cases raise Vietnam’s tally to 1,312
Tran Phuong Binh, former general director and vice chairman of DongA Commercial Bank, appears at the court today – PHOTO: TNO

HCMC – The prosecution suggested at the court today, November 24, that Tran Phuong Binh, former general director and vice chairman of DongA Commercial Bank, be sentenced to life in prison for his abuse of power to misappropriate assets and his irregularities in handling the bank’s operations and pay a compensation of over VND75.6 billion.

Among 11 other defendants who violated regulations on banking operations and other related activities, leading to losses worth VND8.83 trillion for the HCMC-based bank, Phung Ngoc Khanh, former general director of M&C Joint Stock Company, is facing 18 to 20 years behind bars.

Meanwhile, the other defendants, who were former officials at the bank, would likely be given noncustodial sentences of two years to custodial ones of eight years for breaking lending regulations, the local media reported.

The prosecution stated that Binh, aged 61, was the mastermind behind the case, instructing other defendants to perform unlawful acts, leaving the bank facing serious financial damages. Their violations include establishing many companies, faking collateral and inflating the values of assets.

He was held accountable for giving out loans to four groups of major clients—M&C, Hiep Phu Gia, Tan Van Hung and Dong Tien—which caused losses of over VND3.9 trillion, VND3.1 trillion, VND1.2 trillion and VND393 billion, respectively. Besides, he was found to have embezzled more than VND75.6 billion from the bank.

Apart from the suggestion on Binh’s compensation, the prosecution also suggested the former M&C boss, Phung Ngoc Khanh, pay compensation of over VND3.9 trillion for DongA Bank.

In addition, Tran Quang Khai, legal representative of Dong Tien Company, would likely reimburse more than VND227 billion for seven illegal unsecured loans, while Bui Van Doi, director of TBT, was asked to reimburse VND165 billion for three illegal unsecured loans.

As for the loan from Tan Van Hung, the prosecution suggested Vu Thi Lien reimburse some VND1.1 trillion.

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