Vinashin's former Chairman of the Council of Members Nguyen Ngoc Su at the court (Photo: VNA) Hanoi (VNA) – FormerChairman of the Council of Members of the State-run Vietnam Shipbuilding Industry Group (Vinashin) NguyenNgoc Su was sentenced to 13 years in prison for the charge of “abusing positionand power to appropriate assets” at a first-instance trial in Hanoi on June 12.
The Hanoi People’s Court alsosentenced Tran Duc Chinh, former Chief Accountant cum head of the Finance and Accounting Department to 17years in jail, former Vinashin General Director Truong Van Tuyen 7 years and formerDeputy General Director Pham Thanh Son 6 years for the same conviction.
The court also requested thedefendants to pay back the money they illegal appropriated.
Chinh and Son were banned toundertake management positions in State-owned enterprises within three yearssince the end of their sentences.
According to the indictment, they together agreed to makefixed-term deposits at OceanBank to gain extra interest that was not stated indeposit contracts.
Investigators have found that from 2010 to June2014, Vinashin made more than 2,300 fixed-term deposit contracts involvingnearly 104 trillion VND (4.45 billion USD) and some 181 million USD withOceanBank.
From March 2011 to August 2014, Chinh receivedmore than 105 billion VND (4.5 million USD) in extra interest from OceanBank.As agreed by the four, Chinh was assigned to receive and manage the extrainterest to use for the firm’s activities and divide up the money among them.
Su initiated the depositing, signed 12 depositcontracts and gained 8 billion VND himself. Authorised by Tuyen, Chinh alsosigned many deposit contracts at OceanBank and appropriated 10 billion VND,while Tuyen pocketed 3.5 billion VND and Son bagged 1.2 billion VND.-VNA
The Hanoi People’s Court alsosentenced Tran Duc Chinh, former Chief Accountant cum head of the Finance and Accounting Department to 17years in jail, former Vinashin General Director Truong Van Tuyen 7 years and formerDeputy General Director Pham Thanh Son 6 years for the same conviction.
The court also requested thedefendants to pay back the money they illegal appropriated.
Chinh and Son were banned toundertake management positions in State-owned enterprises within three yearssince the end of their sentences.
According to the indictment, they together agreed to makefixed-term deposits at OceanBank to gain extra interest that was not stated indeposit contracts.
Investigators have found that from 2010 to June2014, Vinashin made more than 2,300 fixed-term deposit contracts involvingnearly 104 trillion VND (4.45 billion USD) and some 181 million USD withOceanBank.
From March 2011 to August 2014, Chinh receivedmore than 105 billion VND (4.5 million USD) in extra interest from OceanBank.As agreed by the four, Chinh was assigned to receive and manage the extrainterest to use for the firm’s activities and divide up the money among them.
Su initiated the depositing, signed 12 depositcontracts and gained 8 billion VND himself. Authorised by Tuyen, Chinh alsosigned many deposit contracts at OceanBank and appropriated 10 billion VND,while Tuyen pocketed 3.5 billion VND and Son bagged 1.2 billion VND.-VNA
VNA
