Saturday, March 28 2020


VietinBank fraud case back in court

Update: December, 26/2014 - 08:51
Huynh Thi Huyen Nhu.— Photo tainguyenmoitruong

HCM CITY (VNS) — The Supreme People's Procuracy has asked the People's Court of HCM City to rescind the life sentence given to Huynh Thi Huyen Nhu, former head of a VietinBank transaction office in HCM City who was convicted for swindling customers out of nearly VND4 trillion (US$188.7 million) but is being retried now.

A prosecutor told the judges yesterday that Nhu, 36, was mistakenly sentenced for "swindling to appropriate assets" and "counterfeiting seals and materials of agencies and organisations" with regard to VND1.085 trillion deposited in Vietinbank by five companies.

He said she had misappropriated the amount and not "swindled" the companies.

Her lawyer, Nguyen Van Ngoan, said she should not be charged with "abuse of power to appropriate money" since she did not have any power.

Nhu, who had not appealed – ACB and some others cheated by her did on her behalf — admitted to the court that she had misappropriated customers' money and colluded with customers to create fake documents.

The five companies are ORS Securities, SaigonBank - Berjara, Global Insurance Corporation, An Loc, and Hung Yen, and they had deposited from VND124 billion to VND380 billion.

The Procuracy wanted the court to pin the responsibility for the loss of money on VietinBank and order it to make good the loss.

It also called for an investigation by the Ministry of Public Security to commence criminal proceedings against Nguyen Thi Minh Huong and Truong Minh Hoang, two former deputy branch directors of VietinBank in HCM City, for irresponsibility and causing serious consequences.

Prosecutors also called on the police to look into the responsibility of Nguyen Van Se, former HCM City director of VietinBank.

According to the sentencing, in 2007 Nhu had used her position at the bank to raise over VND200 billion ($9.43 million) from banks, organisations ,and individuals at high interest rates to invest in the property market. In 2010 when the market collapsed, Nhu she went bankrupt.

Between March 2010 and September 2011, on the pretext of mobilising deposits, Nhu took money worth VND3.9 trillion from three individuals, nine companies, and three banks. — VNS

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