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Jail terms proposed for defendants in Navibank case

Update: March, 13/2018 - 14:00
The defendants appear in the court. — VNA/VNS Photo
Viet Nam News

HCM CITY — HCM City People’s Procuracy on Monday proposed jail sentences ranging from eight to 15 years for 10 former Nam Việt Commercial Joint Stock Bank (Navibank) officials.

The officials are accused of “deliberately violating State regulations on economic management, causing serious consequences” at the bank. 

A jail term of 14-15 years was sought for former general director Lê Quang Trí, while a sentence of 12-13 years was suggested for Đoàn Đăng Luật (former chief of the capital source division), Huỳnh Vĩnh Phát (former chief of the accounting division), Trần Thanh Bình (former chief of the client relations division) and former deputy general director Nguyễn Giang Nam. 

Former deputy general directors Cao Kim Sơn Cương and Nguyễn Hùng Sơn are likely to get 10-11 years in jail, while Đinh Thị Đoan Trang (former chief of the client services division) may be sentenced to nine or 10 years in prison.

A prison term of eight to nine years each was demanded for Phạm Thị Thu Hiền (former chief of the legal division) and Nguyễn Ngọc Oanh (former chief of the risk management division). 

According to the indictment of the Supreme People’s Procuracy, from November 19, 2010, to May 27, 2011, the credit council of Navibank, which comprised Lê Quang Trí, Cao Kim Sơn Cương, Nguyễn Hùng Sơn, Nguyễn Giang Nam, Trần Thanh Bình, Đinh Thị Đoan Trang, Phạm Thị Thu Hiền and Nguyễn Ngọc Oanh, signed a document giving credit of over VNĐ1.54 trillion (US$67.4 million) to 14 employees, who later deposited the money at the Nhà Bè branch of Vietinbank to gain extra interest that was not shown in the contract. 

The extra interest that Huỳnh Thị Huyền Như, former deputy chief of the risk management department of the HCM City branch of VietinBank, paid was more than VNĐ24 billion ($1 million), of which over VNĐ15 billion was transferred to the account of Huỳnh Vĩnh Phát and over VNĐ9 billion in cash was given to Đoàn Đăng Luật. 

Như took advantage of the defendants’ act to appropriate VNĐ200 billion ($8.7 million) of Navibank, according to the indictment.

At the trial on Monday, the procuracy suggested the judges’ panel to take back VNĐ24 billion ($1 million), which it said should be added to the State coffer. 

According to the procuracy, the defendants’ acts have violated State regulations on economic management, harmed the prestige of State management agencies in the banking sector and partially affected the country’s financial and monetary market during the 2010-11 period. — VNS

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