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Trial held for 28 former officials of Dai Tin Bank

The HCM City People’s Court on May 8 opened the first trial for 28 former officials of Dai Tin Bank (Trust Bank) for "abusing trust to appropriate property" and "deliberately acting against State regulations on economic management and causing serious consequences".
Trial held for 28 former officials of Dai Tin Bank ảnh 1Defendants at the court on May 8 (Photo: VNA)

HCM City (VNA) – The Ho Chi Minh City People’s Court on May 8 opened thefirst trial for 28 former officials of Dai Tin Bank (Trust Bank) – predecessorof the Vietnam Construction Bank (VNCB) for "abusing trust to appropriateproperty" and "deliberately acting against State regulations oneconomic management and causing serious consequences".

Hua Thi Phan, former senior advisor of the management board of Trust Bank, didnot appear in the court because of reportedly poor health.

At the court, lawyers defending Phan proposed postponing the trial due to Phan’shealth. However, the court said that her absence does not affect the trial.

During an earlierinvestigation by police, she did not submit any statement or declaration. Butthe court decided to open the trial based on the evidence that has beengathered.

More than 100individuals and representatives of organisations appeared in court along with50 lawyers.

According to theindictment, holding 84.92 percent of the bank’s share and acting as the senioradvisor of the bank, Phan took over all operations of the Board of Directors, themanagement board as well as officials and workers of the bank and its twobranches of Sai Gon and Lam Giang.

Through otherdefendants, Phan directed the TrustAsset Company of Trust Bank, which does nothave the price appraisal function, to verify and raise the price of her houseat No. 5 Pham Ngoc Thach street, Ho Chi Minh City, to 1.268 trillion VND, eighttimes higher than the market price. Phan then sold the house to Trust Bank andappropriate and cause damage of over 1.105 trillion VND.

Besides, Phan directedleaders and officials of Trust Bank’s Sai Gon and Lam Giang branches to makefake documents and transactions to cause financial damage of over 5.25 billionVND to Trust Bank.

The court rejectedPhan lawyers’ proposal of postponing the court due to her physical problem,holding that her absence does not affect the judging process. Five lawyers haveprotected her at the court.

The trial is scheduledto last until May 31.-VNA 
VNA
#Dai Tin Bank#Trust Bank#Vietnam Construction Bank#Hua Thi Phan#abusing trust to appropriate property#corruption#Vietnam#Vietnam news#Vietnam News Agency
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