Ninh Van Quynh has asked the Hanoi People’s Court for reductions in his sentences. (Photo: VNA)Hanoi (VNA) - Ninh Van Quynh, former chief accountant and former headof the department of finance, accounting and auditing of PetroVietnam, whoinvolved in the Oceanbank wrongdoings, has asked the Hanoi People’s Court forreductions in his sentences.
Earlier, the court handed down Quynh seven years behind bars, for “deliberatelyviolating State regulations on economic management, causing severeconsequences,” and 16 years for “abusing positions and powers to misappropriateState assets.”
Other defendants in the case are Dinh La Thang, former Chairman of the MemberCouncil of the Vietnam Oil and Gas Group (PetroVietnam), receiving 18-year jailsentence; Nguyen Xuan Son, former Deputy General Director of PetroVietnam,sentenced to 30 months in prison; Vu Khanh Truong and Nguyen Xuan Thang, bothformer members of the Member Council of PetroVietnam, sentenced to 5 years and22 months in jail, and Nguyen Thanh Liem and Phan Dinh Duc, who are also formermembers of the PetroVietnam Member Council, receiving non-custodialre-education periods of 20 months and 15 months, respectively.
Besides, the jury asked the defendants to compensate 800 billion VND (35.2million USD) for the losses they caused to PetroVietnam. Of the total, Dinh LaThang has to refund 600 billion VND (26.4 million USD); Ninh Van Quynh, 100billion VND (4.4 million USD); and Vu Khanh Truong, 40 billion VND (1.76million USD). Each of the four other defendants has to give back 15 billion VND(660,000 USD) to the State.
Ninh Van Quynh, who was found abusing his position and power to misappropriate20 billion VND (880,000 USD) from OceanBank, had previously refunded theamount.
In 2008, after failing to establish Hong Viet Commercial Joint Stock Bank,PetroVietnam decided to invest in OceanBank.
From 2008 to 2011, Dinh La Thang instructed and decided on PetroVietnam’sinvestment in OceanBank to become a shareholder of the bank.
Under his instruction, Vu Khanh Truong, Nguyen Thanh Liem, Nguyen Xuan Thang,Phan Dinh Duc, Nguyen Xuan Son and Ninh Van Quynh carried out threecontributions of the group’s capital totaling 800 billion VND to OceanBank.
Due to OceanBank’s poor capability and violations committed by Ha Van Tham,former Chairman of OceanBank’s Board of Directors, the bank suffered seriouslosses, leading to the loss of the whole 800 billion VND invested byPetroVietnam when the State Bank of Vietnam was forced to buy OceanBank at zeroVND.-VNA
VNA
