Appeal trial for BIDV-related violation case to open on June 28

Defendants at the first-instance trial (Photo: VNA)

Hanoi – An appeal trial for the case related to violations of regulations on banking activities and abuse of trust to appropriate assets at the Bank for Investment and Development of Vietnam (BIDV), Binh Ha Livestock JSC and Trung Dung Trade and Tourism Co. Ltd. will take place from June 28-30, the High-level People’s Court in Hanoi announced on June 11.

During the trial in November 2020, the Hanoi People’s Court sentenced two BIDV former general directors, Tran Luc Lang to eight years in prison, and Doan Anh Sang to six years and a half.

Six other defendants on the same charges received sentences of between 3-7 years.

Former Director of the Trung Dung Trade and Tourism Co. Ltd Doan Hong Dung was jailed for 18 years, former General Director of the Binh Ha Livestock JSC Tran Anh Quang, 13 years; and Dinh Anh Dung, also former General Director of the Binh Ha company, 12 years; and Nguyen Thi Thanh Son, former Director of the Ha Nam company, three years, all for abuse of trust to appropriate assets.

Later, former General Director of the Binh Ha company Dinh Van Dung, former Director of the Trung Dung company Doan Hong Dung and capital contributor of the Trung Dung company Nguyen Thi Thanh Son lodged appeals against their sentences.

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