Saturday, December 10 2016

VietNamNews

12 years in jail for banker

Update: September, 26/2016 - 09:00
The Hà Nội People’s Court on Saturday handed down a 12-year jail term for Huỳnh Thị Bảo Ngọc for “swindling to appropriate properties”. — Photo motthegioi.vn

HÀ NỘI — The Hà Nội People’s Court on Saturday handed down a 12-year jail term for Huỳnh Thị Bảo Ngọc for “swindling to appropriate properties”.

Ngọc, 44, former deputy head of the fund management department of Asia Commercial Joint Stock Bank (ACB), was accused of helping Huỳnh Thị Huyền Như, temporary head of Điện Biên Phủ transaction department of HCM City’s Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) to swindle and appropriate nearly VNĐ670 billion (US$29.8million).

According to the indictment, in 2010, ACB entrusted individuals to send money to credit organisations to benefit from higher interest rates than the rate ceiling regulated by the State Bank of Việt Nam.

From July 21, 2011 to September 5, 2011, Ngọc asked 17 staff of ACB Bank to receive nearly VNĐ670 billion illegally entrusted by ACB Bank to deposit the saving to HCM City’s Vietinbank. — VNS

 

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