|Huynh Thi Huyen Nhu, 36 (M) , ex - deputy chief of the Risk Management Department of the Viet Nam Joint Stock Commercial Bank for Industry and Trade (Vietinbank), was charged with "swindling to appropriate assets" and "counterfeiting seals and materials of agencies and organisations."— VNA/VNS Photo
HCM CITY (VNS)— A swindling trial in which the defendant is accused of appropriating nearly VND4 trillion (US$188.7 million) from individuals and banks began in HCM City yesterday morning.
Huynh Thi Huyen Nhu, 36, ex - deputy chief of the Risk Management Department of the Viet Nam Joint Stock Commercial Bank for Industry and Trade (Vietinbank), was charged with "swindling to appropriate assets" and "counterfeiting seals and materials of agencies and organisations."
Vo Anh Tuan, 41, an ex-official at Vietinbank, and four other defendants were charged with "swindling to appropriate assets."
Meanwhile, Pham Anh Tuan, 36, director of Thai Binh Duong Petroleum Transport JSC, was charged with "abusing position and power while on duty" and Huynh Thi Viet Yen, 40, ex - head of Vietinbank's Nha Be branch, Ho Hai Sy, 30, Yen's ex-deputy, and Le Thi Ngoc Loi, 27, former employee of the branch, were charged with "irresponsibility causing serious consequences."
Ten Vietinbank officials and employees were charged with "violating lending regulations in operations of credit institutions".
According to the court's indictment, in 2007, Nhu abused her professional position to mobilise over VND200 billion ($9.43 million) from many banks, organisations and individuals at high interest rates to invest in the local property market.
In 2010, when the property market stagnated, Nhu suffered huge losses and fell into insolvency.
From March 2010 until September 2011, under the false pretext of mobilising capital for two Vietinbank branches, Nhu allegedly obtained loans totaling nearly VND4 trillion from three individuals, nine companies and three banks.
She also forged the seals of Vietinbank and companies including Phuc Vinh, Thinh Phat, Hung Yen, An Loc, Duc Minh Quang and Saigonbank Berjaya as well as nearly 200 documents, including 110 false contracts between Vietinbank's Nha Be branch and other individuals and agencies.
Victims of the scam included Asia Commercial Joint Stock Bank (ACB), Nam Viet Commercial Joint Stock Bank and Viet Nam International Bank's HCM City branch.
The trial is scheduled to last 20 days. — VNS