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Shipping scandal: Executives’ hearing at high-level court

Update: August, 17/2017 - 17:13
Giang Kim Đạt escorted in the first instance court. – Photo
Viet Nam News

HÀ NỘI — The Hà Nội Superior People’s Court on Thursday held an appeal hearing of Giang Kim Đạt and three accomplices in a major corruption case that involves bankrupt State-owned firm Vinashin Ocean Shipping Ltd, or Vinashinlines.

In an initial trial on February 22, the Hà Nội People’s Court handed death penalties for embezzlement to Đạt, 40, Vinashinlines former sales manager; and his 62-year-old ex-superior and former director general Trần Văn Liêm. They were said to have embezzled at least VNĐ255 billion (US$11.2 million) and $150,000, respectively.

Vinashinlines’ former chief accountant Trần Văn Khương, 67, received a life sentence for embezzling $110,000.

In addition, Đạt’s father Giang Văn Hiển, 76, was sentenced to 12 years in prison for money laundering.

After the initial trial, all four defendants filed an appeal.

According to the indictment, Đạt, Liêm and Khương stole the money from deals to buy or lease foreign vessels and colluded with foreign partners to rig prices for personal profits.

The money was transferred to multiple bank accounts in the name of Đạt’s father, who later used it to buy several houses and cars.

Đạt fled when an arrest warrant was issued in 2012 and was eventually arrested in July 2015. 

Vinashinelines was a subsidiary of the marine conglomerate Việt Nam Ship Building Industry Group (Vinashin). Ten Vinashin executives were arrested and brought to trial on embezzlement charges so far. The estimated state losses of the Vinashin scandal--which came to light in 2008--is more than VNĐ910.2 billion. 

The hearing is scheduled for two days. — VNS


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