The High-Level People’s Court in Hà Nội yesterday began to hear the appeals of Hà Văn Thắm, former Chairman of the Board of Directors of the Ocean Commercial Joint Stock Bank (OceanBank), and his accomplices for their wrongdoings at the bank.— Photo zing.vn

HÀ NỘI — The High-Level People’s Court in Hà Nội yesterday began to hear the appeals of Hà Văn Thắm, former Chairman of the Board of Directors of the Ocean Commercial Joint Stock Bank (OceanBank), and his accomplices for their wrongdoings at the bank.

Due to OceanBank’s poor capability and violations committed by Hà Văn Thắm, the bank suffered serious losses, leading to the loss of the VNĐ800 billion (US$35.12 million) invested by PetroVietnam when the State Bank of Vietnam was forced to buy OceanBank at zero Vietnamese đồng.

The OceanBank case is one of the six major economic crimes that received the direct instruction from the Central Anti-Corruption Steering Committee. A total of 27 defendants appealed against the verdict handed down at last year’s original trial which took place from August 28 to September 29, 2017.

These defendants claimed innocence or asked for reduced punishment, suspended sentences and absolution from criminal responsibilities.

Three organisations and individuals with related interests and duties also asked for re-consideration of compensation.

At the first trial, the Hà Nội People’s Court sentenced Hà Vắn Thắm to life imprisonment on four counts: “property embezzlement”, “abusing positions and power to appropriate assets”, “breaching lending regulations of credit institutions”, and “deliberately violating State regulations on economic management causing severe consequences.”

Nguyễn Xuân Sơn, former General Director of OceanBank, was sentenced to death on the charges of “property embezzlement”, “abusing positions and power to appropriate assets” and “deliberately violating State regulations on economic management causing severe consequences”.

Nguyễn Minh Thu, former Deputy General Director of OceanBank, got 22 years in prison for “deliberately violating State regulations on economic management causing severe consequences,” and “abusing positions and power to appropriate assets.”

The court also handed down jail sentences of 14 years to Phạm Công Danh (former Chairman of the Board of Directors of Thiên Thanh Group) and 17 years for Hứa Thị Phấn (former Chairwoman of the Board of Directors of Phú Mỹ Investment and Development JSC) for “breaching loan regulations of credit institutions.”

Danh and Phan, along with two other defendants, have submitted requests for permission to be absent at the appeal trial due to health problems. The appeal trial is scheduled to last until April 29 and its verdict is expected to be announced after the Reunification Day (April 30) and May Day holidays. — VNS