HA NOI — Police yesterday decided to prosecute 16 former officials of Viet Nam Construction Joint Stock Commercial Bank to investigate violations at the bank, the public security ministry's investigative police agency said.
The accused persons include a former director and former deputy director of the bank.
The move follows the expanded investigation related to former chairman of the HCM City-based Thien Thanh Group Ltd Company Pham Cong Danh, who was arrested in July 2014 for allegedly violation of state regulations on economic management, leading to serious consequences.
He also allegedly violated credit regulations, particularly in Construction Bank.
On October 23, police visited the residences of the 16 suspects, and restricted them from leaving the premises to aid police investigation.
Among the 16 suspects, former vice-head of the bank's supervisor group and member of the board of management Pham The Tuan is being prosecuted for irresponsible economic management, leading to serious consequences. He allegedly did not report or react in time to long-term withdrawal of money by Danh and his accomplices from VNCB, causing a loss of VND2.5 trillion ($112 million) to the bank.
Former branch vice-director Hoang Viet Thang is being prosecuted for signing credit contracts with four companies in an irresponsible manner, helping Danh to withdraw almost VND1.3 trillion.
Last year, three top officials of the HCM City-based Thien Thanh Group Ltd Company were arrested for allegedly violation of Viet Nam's Penal Code's Article 165.
The Article deals with deliberate acts against state regulations on economic management, leading to serious consequences.
The arrested persons were the company's Chairman of the board of directors Pham Cong Danh, 49; former Director-General-cum-member of the board of directors Phan Thanh Mai, 43; and another former member of the board of directors Mai Huu Khuong, 31.
They were also top managers at Viet Nam Construction Bank, a commercial bank with a registered capital of VND3 trillion. A day before they were arrested, the State Bank of Viet Nam said the three top executives had been dismissed from service to ensure normal operations of the bank. — VNS