Defendant Trinh Xuan Thanh at the January hearing |
The procuracy confirmed that PV Power Land’s shares at Nam Dan Plaza project had been sold at a lower price than its real value.
Defendants Trinh Xuan Thanh, Dinh Manh Thang, Thai Kieu Huong, Dao Duy Phong, Nguyen Ngoc Sinh, Dang Sy Hung, and Huynh Nguyen Quoc Duy in league with Le Hoa Binh and Nguyen Thi Kim Thoa transferred the shares at VND13,578 apiece, lower than the actual value of VND20,756 apiece.
As a result, the procuracy found that the defendants charged with “asset embezzlement” appropriated VND49 billion (nearly $2.2 million) out of the total VND87 billion ($3.9 million) difference in proceeds achieved by selling at VND13,578 instead of VND20,756.
Here are the procuracy’s findings as to the amounts the defendants appropriated and the punishments awarded:
Name | Position | Appropriated amount | Sentence proposed |
Trinh Xuan Thanh | Former chairman of PetroVietnam Construction JSC (PVC) | VND14 billion ($0.62 million) |
Life imprisonment |
Dinh Manh Thang | Former chairman of Petro Song Da Trading and Investment JSC | VND5 billion ($2.2 million) | 11-12 years of imprisonment |
Dao Duy Phong | Former chairman of PV Power Land | VND8 billion ($0.35 million) | 17-18 years |
Nguyen Ngoc Sinh | Former general director of PV Power Land | VND2 billion ($0.09 million) | 14-15 years of imprisonment |
Dang Sy Hung | He died | VND20 billion ($0.88 million) | |
Thai Kieu Huong | Deputy general director of Vietsan Company | 11-12 years of imprisonment | |
Huynh Nguyen Quoc Duy | Freelance broker | 11-12 years of imprisonment | |
Le Hoa Binh | Former chairman of May 1 Construction and Service JSC | 9-10 years of imprisonment | |
Nguyen Thi Kim Thoa | Former chief of accountant of May 1 Construction and Service JSC | 8-9 years of imprisonment |
Particularly, in combination with Verdict No.134, Le Hoa Binh and Nguyen Thi Kim Thoa are proposed a sentence of life imprisonment for their assistance in the appropriation of the money.
Trial of Trinh Xuan Thanh and Dinh La Thang’s brother to start today
Today, the Hanoi People’s Court opens the first instance hearing of the trial of Trinh Xuan Thanh, Dinh Manh Thang, and six other defendants charged with “asset embezzlement” at PV Power Land. |
PVC trial ends in life sentence
Dinh La Thang has been sentenced to 13 years of imprisonment and Trinh Xuan Thanh has been given a life sentence. |
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