Former OceanBank officials may face heaviest penalty
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| The Hanoi People's Procuracy has proposed stiff penalties |
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According to the Procuracy, OceanBank has seen many especially serious violations regarding the mobilisation of deposits, and misuse of money sourced from the bank’s excessive interest rates. Tham and Son were found to have committed the most serious violations.
Son, who served as the chairman of state-owned oil and gas group PetroVietnam from 2014 until 2015 was charged with “embezzlement, abuse of power, and deliberately violating state regulations on economic management.”
Son, who held many executive positions at PetroVietnam since 2003 and was CEO of OceanBank during 2008-2010, is accused of embezzling about $11 million from the bank. During 2008-2010, PetroVietnam was a major shareholder of the bank.
Meanwhile, Tham is facing the same charges, with the addition of “breaking regulations on lending activities at credit institutions.”
According to the Procuracy’s indictment, in 2012, Tham approved a VND500-billion ($22.72 million) loan for Pham Cong Danh, former chairman of Vietnam Construction Bank, via a property firm without properly securing collateral. The Ho Chi Minh City-based company later defaulted on the loan. Danh is facing 17 years in jail.
During 2010-2014, Tham and other bank officials also offered deposit rates above those set by the State Bank of Vietnam to many customers, including PetroVietnam, causing a financial loss of nearly VND1.6 trillion ($72.73 million).
Over 50,000 individuals and nearly 400 organisations, including PetroVietnam subsidiaries and many state-owned units, had benefited from the interest rates, according to the prosecution.
The Procuracy said based on evidence and the indictees’ statements, the punishments imposed on the defendants are well-grounded and legal.
The accused’s wrongdoings have made a great dent on state assets and blemished PetroVietnam’s prestige, while being a public nuisance.
During the inspections, Son intentionally shielded his year-long mistakes and indulged in sophism. He also showed wild disregard for the law.
Meanwhile, Tham also intentionally concealed his crimes, which have involved inciting other bank employees to commit several violations.
The Procuracy has also proposed different durations of imprisonment for many other officers of OceanBank (See box for details).
The OceanBank trial kicked off in Hanoi on August 28 and is scheduled to last 20 days. It can be considered the biggest court case in Vietnam’s history, involving about 750 attendants and 51 bankers and businesspeople.
OceanBank was founded in 1993 with a 20 per cent stake from Ocean Group, which also invested in many sectors, such as hospitality, securities, media, and retail.
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List of the defendants and their proposed penalties 1. Ha Van Tham - former chairman of OceanBank: Life sentence 2. Nguyen Xuan Son - former general director of OceanBank: Death sentence 3. Nguyen Minh Thu - former chairman of OceanBank: 27 years 4. Nguyen Van Hoan - former deputy general director of OceanBank: 24 years 5. Pham Hoang Giang - general director of BSC Vietnam: 8-9 years 6. Hoang Thi Hong Tu - chairman of BSC Vietnam: 30-36 months 7. Le Thi Thu Thuy - deputy general director of OceanBank: 11-12 years 8. Vu Thi Thuy Duong - former director of OceanBank’s Accounting and Domestic Transaction Division: 9-10 years 9. Nguyen Thi Nga - former chief accountant of OceanBank: 7-8 years 10. Nguyen Hoai Nam - former director of OceanBank’s Capital Source Division: 6-7 years 11. Nguyen Thi Thu Ba - former director of OceanBank’s Retail Banking: 5-6 years 12. Do Dia Khoi Trang - former director of OceanBank’s Personal Customers Division: 7-8 years 13. Nguyen Xuan Thang - former vice director of OceanBank’s Big Customers and Strategic Partners Division: 3-4 years 14. Le Tuan Anh - former director of OceanBank’s Thang Long Branch: 36-42 months 15. Nguyen Thi Kieu Lien - former director of OceanBank’s Vung Tau Branch: 36-42 months 16. Nguyen Minh Dao - former director of OceanBank’s Hanoi Branch: 36-42 months 17. Tran Thi Thu Huong - former director of OceanBank’s Hai Duong Branch: 36-42 months 18. Hoang Bich Van - former director of OceanBank’s Ho Chi Minh City Branch: 36-42 months 19. Nguyen Quoc Chien - former director of OceanBank’s Saigon Branch: 36-42 months 20. Pham Dinh Yen - former director of OceanBank’s Dao Duy Anh Transaction Office: 30-36 months 21. Ngo Hai Nam - former director of OceanBank’s Quang Ninh Branch: 30-36 months 22. Phan Thi Ta Anh - former director of OceanBank’s Quang Ngai Branch: 30-36 months 23. Le Quynh An - former director of OceanBank’s Vinh Branch: 30-36 months 24. Nguyen Hong Quan - former director of OceanBank’s Ca Mau Branch: 30-36 months 25. Nguyen Tra My - former vice director of OceanBank’s Thang Long Branch: 30-36 months 26. Nguyen Xuan Son - former director of OceanBank’s Nguyen Van Troi Transaction Office: 24-30 months 27. Mai Van Cuong - former director of OceanBank’s Haiphong Branch: 24-30 months 28. Ta Hoang Phuong - former director of OceanBank’s Nha Trang Branch: 24-30 months 29. Nguyan Van Duc - former director of Thanh Hoa Branch: 24-30 months 30. Le Vu Thuy - former director of OceanBank’s Binh Duong Branch: 24-30 months 31. Tran Thi Thien Ngan - former director of OceanBank’s Danang Branch: 24-30 months 32. Le Bao Kien - former director of OceanBank’s Hoan Kiem Transaction Office): 24-30 months 33. Phan Thi Lan - former director of OceanBank’s Ha Tinh Branch: 24-30 months 34. Bui Duc Quynh - former director of OceanBank’s Dong Nai Branch: 24-30 months 35. Ngo Hoang Long - former director of OceanBank’s Au Co Branch: 24-30 months 36. Nguyen Thi Binh Phuong - former director of OceanBank’s Ca Mau Branch: 24-30 months 37. Luu Hong Van - former director of OceanBank’s Hadong Transaction Office: 24-30 months 38. Nguyen Van Chai - former director of OceanBank’s Bac Giang Branch: 24-30 months 39. Hoang Phuong Nga - former director of OceanBank’s Phu My Hung Transaction Office: 24-30 months 40. Nguyen Luu Nam - former director of OceanBank’s Quy Nhon Branch: 24-30 months 41. Nguyen Viet Hien - former director of OceanBank’s Au Co Transaction Office: 24-30 months 42. Nguyen Quoc Truong - ormer director of OceanBank’s Can Tho Branch: 24-30 months 43. Do Quoc Trinh - former director of OceanBank’s Phu My Hung Transaction Office: 24-30 months 44. Trinh Xuan Ha - former director of OceanBank’s Long Bien Transaction Office: 24-30 months 45. Tran Anh Thiet - former director of OceanBank’s Hanoi Branch: 18-24 months 46. Nguyen Thi Loan - former director of OceanBank’s Trung Yen Transaction Office: 18-24 months 47. Nguyen Phan Trung Kien - former director of OceanBank’s Dong Do Transaction Office:18-24 months 48. Nguyen Viet Ha - former director of OceanBank’s Thai Binh Branch: 18-24 months 49. Pham Cong Danh - former chairman of Thien Thanh Group Co., Ltd.: 16-17 months 50. Tran Van Binh - general director of Trung Dung Company: 5-6 years 51. Hua Thi Phan - former chairman of Phu Mi Investment and Development JSC: 17-18 years |
What the stars mean:
★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional
Themes: Bank Scandals
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