Ho Chi Minh City prosecutors on January 13 demanded life imprisonmentfor Huynh Thi Huyen Nhu, former deputy chief of the Risk ManagementDepartment of the Vietnam Joint Stock Commercial Bank for Industry andTrade (Vietinbank), at her trial that started on January 6.
Nhu, who was born in 1978 in the Mekong Delta province of Tien Giang,has been charged with “swindling to appropriate assets” and“counterfeiting seals and materials of agencies and organisations”.
Life imprisonment was also recommended for Vo Anh Tuan, former DeputyDirector of Vietinbank’s Nha Be branch, born in 1972 in the northernprovince of Thai Binh, on the charge of “swindling to appropriateassets”.
The prosecutors sought 2-20 years in prison for theremaining 21 defendants, which included bank officials and staff, on thecharges of “swindling to appropriate assets”, “giving loans with highinterest rates”, “violating lending regulations in operations of creditinstitutions”, “irresponsibility causing serious consequences” and“abusing position and power while on duty.”
According to thecourt's indictment, in 2007, Nhu took advantage of her professionalposition to mobilise over 200 billion VND (9.43 million USD) from manybanks, organisations and individuals at high interest rates to invest inthe local property market.
In 2010, when the market stagnated, Nhu suffered huge losses and fell into insolvency.
From March 2010 until September 2011, under the pretext of mobilisingcapital for two Vietinbank branches, Nhu allegedly obtained loanstotalling 3.9 trillion VND from three individuals, nine companies andthree banks.
She also forged the seals ofVietinbank and companies including Phuc Vinh, Thinh Phat, Hung Yen, AnLoc, Duc Minh Quang and Saigonbank Berjaya, as well as nearly 200documents, including 110 false contracts between Vietinbank's Nha Bebranch and individuals and agencies.
Victims of the scam include the Asia Commercial Joint Stock Bank(ACB), the Nam Viet Commercial Joint Stock Bank (Navibank) and theVietnam International Bank's Ho Chi Minh City branch.
Tuan had actively supported Nhu in appropriating money from many banks, individuals and businesses.
The prosecutors also suggested prosecuting Tran Thi To Quyen, Nhu’sassistant, on the charge of helping Nhu to appropriate 15 billion VNDfrom the Vietnam International Commercial Joint Stock Bank (VIBank).Earlier, Quyen was charged with “swindling to appropriate assets”.
Nguyen Thi Minh Huong and Truong Minh Hoang, both Deputy Directors ofVietinbank’s HCM City branch, were prosecuted for theirirresponsibility in this case. They signed contracts with ACB staffwithout supervising them, making it easier for Nhu to arrogate moneyfrom Navibank and the ACB.
The trial is scheduled to last 20 days.-VNA
Nhu, who was born in 1978 in the Mekong Delta province of Tien Giang,has been charged with “swindling to appropriate assets” and“counterfeiting seals and materials of agencies and organisations”.
Life imprisonment was also recommended for Vo Anh Tuan, former DeputyDirector of Vietinbank’s Nha Be branch, born in 1972 in the northernprovince of Thai Binh, on the charge of “swindling to appropriateassets”.
The prosecutors sought 2-20 years in prison for theremaining 21 defendants, which included bank officials and staff, on thecharges of “swindling to appropriate assets”, “giving loans with highinterest rates”, “violating lending regulations in operations of creditinstitutions”, “irresponsibility causing serious consequences” and“abusing position and power while on duty.”
According to thecourt's indictment, in 2007, Nhu took advantage of her professionalposition to mobilise over 200 billion VND (9.43 million USD) from manybanks, organisations and individuals at high interest rates to invest inthe local property market.
In 2010, when the market stagnated, Nhu suffered huge losses and fell into insolvency.
From March 2010 until September 2011, under the pretext of mobilisingcapital for two Vietinbank branches, Nhu allegedly obtained loanstotalling 3.9 trillion VND from three individuals, nine companies andthree banks.
She also forged the seals ofVietinbank and companies including Phuc Vinh, Thinh Phat, Hung Yen, AnLoc, Duc Minh Quang and Saigonbank Berjaya, as well as nearly 200documents, including 110 false contracts between Vietinbank's Nha Bebranch and individuals and agencies.
Victims of the scam include the Asia Commercial Joint Stock Bank(ACB), the Nam Viet Commercial Joint Stock Bank (Navibank) and theVietnam International Bank's Ho Chi Minh City branch.
Tuan had actively supported Nhu in appropriating money from many banks, individuals and businesses.
The prosecutors also suggested prosecuting Tran Thi To Quyen, Nhu’sassistant, on the charge of helping Nhu to appropriate 15 billion VNDfrom the Vietnam International Commercial Joint Stock Bank (VIBank).Earlier, Quyen was charged with “swindling to appropriate assets”.
Nguyen Thi Minh Huong and Truong Minh Hoang, both Deputy Directors ofVietinbank’s HCM City branch, were prosecuted for theirirresponsibility in this case. They signed contracts with ACB staffwithout supervising them, making it easier for Nhu to arrogate moneyfrom Navibank and the ACB.
The trial is scheduled to last 20 days.-VNA
