Dinh La Thang proposed 18-19 years of imprisonment

Dinh La Thang to proposed 18-19 years of imprisonment

After three days of hearing the statements of Dinh La Thang and six other defendants over charges of causing significant damage to state assets by investing VND800 billion ($35.3 million) into OceanBank, the procuracy has proposed sentencing seven defendants to imprisonment.

For the charges of “intentionally violating state regulations on economic management causing serious consequences” (Article 165 of Penal Code):

For “asset embezzlement” (Article 280 of the Penal Code), Ninh Van Quynh was proposed 17-18 years of imprisonment.

According to the procuracy, Dinh La Thang had the highest authority in PetroVietnam and he was aware of his violations but denied responsibilities. He asked his subordinates to sign fake documents.

Two people who signed these documents have confirmed this. Instead of divestment, Dinh La Thang intentionally conducted the third capital contribution to OceanBank. He had said he did not know about this contribution, effectively denying his responsibilities.

Ninh Van Quynh (former chief accountant) clearly knew OceanBank's weak financial position but still provided advisory and completed dossiers to pour PetroVietnam's capital into this bank. Other defendants Vu Khanh Truong, Nguyen Thanh Liem, Phan Dinh Duc, and Nguyen Xuan Thang were also found to be co-violators with Thang in charge of "intentional violations."

Quynh was also proposed to be sentenced for "asset embezzlement" for receiving VND20 billion ($0.88 million) from Nguyen Xuan Son, who was directed by Ha Van Tham (former chairman of OceanBank).

The trial has been taking place since March 19 and is expected to last until March 29. Earlier, on January 22, after 14 days of trial and deliberation of the case related to PetroVietnam and PetroVietnam Construction Corporation (PVC), Dinh La Thang was sentenced to 13 years of imprisonment for “intentionally violating state regulations on economic management and causing serious consequences.”