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Former BIDV executives jailed for banking offences

Update: November, 02/2020 - 18:14

 

Defendants of the BIDV case listen to the judges' verdict in Hà Nội on Monday. — VNA/VNS Photo Doãn Tấn

HÀ NỘI — Two former executives of the State-run Bank for Investment and Development of Việt Nam (BIDV) received a total sentence of 14 years and six months behind bars for violations of banking regulations.

After a week of deliberation, on Monday afternoon, the Hà Nội People’s Court has delivered its verdict against 12 defendants in the case of banking offences and abusing trusts to misappropriate assets involving BIDV, Bình Hà Livestock JSC, and Trung Dũng Tourism Co Ltd.

According to the indictment, the late Trần Bắc Hà, chairman of BIDV during 2011-16, directed his subordinates at BIDV headquarters in Hà Nội and BIDV branch offices in Hà Thành and Hà Tĩnh Province to lend money to the two companies despite assessment reports pointing out severe financial risks, resulting in total losses of VNĐ1.664 trillion (US$71.6 million) – VNĐ799 billion from Bình Hà company and VNĐ 865billion from Trung Dũng company – to the bank.

For violations of banking operation regulations, former Deputy Director-General of BIDV Trần Lục Lang got eight years in prison while Đoàn Ánh Sáng, also BIDV’s former Deputy Director-General, got six years and six months.

Six other former BIDV employees were given sentences ranging from three to seven years.

From the Hà Tĩnh Province branch office of BIDV, Kiều Đình Hoà, former director of the office, got five years, while Lê Thị Vân Anh, former customer relations chief, got a suspended sentence of 36 months.

From the Hà Thành branch office of BIDV – Ngô Duy Chính, head of the office, was handed seven years; Nguyễn Xuân Giáp, former deputy head of the office, got six years; Phạm Hồng Quang, former business customers’ relations chief, got four years, while Đặng Thành Nam, a customer manager staff, got three years and six months.

Four persons from the borrowing companies were jailed for abusing trust to misappropriate assets. Đoàn Hồng Dũng, former Director of Trung Dũng company, will be jailed for 18 years, the toughest sentence in this case.

Two former director-generals of Bình Hà company, Trần Anh Quang and Đinh Văn Dũng, were sentenced to 13 years and 12 years in prison, respectively.

Nguyễn Thị Thanh Sơn, Đoàn Hồng Dũng’s wife, got three years as she was determined to – together with Dũng – have sold the collateral involved in BIDV loans to illegally appropriate VNĐ263 billion.

The judges remarked that the defendants’ actions “caused danger to society".

The defendants include former BIDV officials who were entrusted with managing State coffers but deliberately went against regulations, resulting in losses, the judges said while acknowledging the defendants acted under pressure from Trần Bắc Hà, who died in 2019 in prison.

They also noted that many BIDV staff have been forthcoming in their admission and helped the investigators and got lighter sentences as a result.

The director-generals of the two borrowing companies must also repay all the money they stole while their assets would continue to be frozen, the judges decided. — VNS

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