The Ho Chi Minh City People’s Court on July 24 resumed the trial on the case of “deliberately violating State regulations on economic management, causing severe consequences” at the Vietnam Construction Bank (VNCB, now Construction Bank).
Defendant Pham Cong Danh at the trial in January (Source: vov.vn)
HCM City (VNA) – The Ho Chi Minh City People’s Court on July 24resumed the trial on the case of “deliberately violating State regulations oneconomic management, causing severe consequences” at the Vietnam ConstructionBank (VNCB, now Construction Bank).
This is the second phase of the case, which involves PhamCong Danh, ex-Chairman of VNCB Board of Directors, Chairman of the Board ofMembers and General Director of Thien Thanh Group, and Tram Be, former ViceChairman of Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank), and 44accomplices. In this phase, they are accused of causing economic losses of morethan 6.1 trillion VND (268.4 million USD) to the VNCB (The first phase involved9 trillion VND).
The trial was held for the first time in January 2018.However, on February 7, the court decided to return the dossier of the case andrequested further investigation. On June 20, the Supreme People’s Procuracysupplemented documents and handed over the dossier to the court, and affirmedthe result of further investigation would not change the case content mentionedin the 2017 indictment.
At the July 24 court, 45 defendants were brought to thetrial, while one was absent as being hospitalised for treatment.
Apart from the defendants, the court summoned over 200people with related interests and obligations, including Tran Bac Ha, formerChairman of BIDV. However, Ha was also absent as he is under treatment inSingapore.
More than 70 lawyers defend legitimate rights and interestsof the defendants and concerned people.
According to the indictment, in 2013 and 2014, Pham CongDanh needed money but was unable to directly borrow from VNCB. He orderedexecutives and staff of VNCB and the Thien Thanh Group to compile falsedocuments in the names of 29 companies which were established in Danh’s name orothers, in order to take loans from Sacombank, TPBank and BIDV.
Danh used the borrowed money for personal purposes andfailed to pay off the debts.
He and his accomplices also used VNCB’s money to deposit atSacombank, TPBank and BIDV as guarantees for his companies’ loans. The bankslater kept the money as payment for the loans. Danh and his accomplices’ actscaused losses of 6,126 billion VND to VNCB.-VNA
The People’s Procuracy of Ho Chi Minh City proposed a 30-year imprisonment sentence to ex-Chairman of the Vietnam Construction Bank (VNCB) Board of Directors Pham Cong Danh during a trial on Jan. 22
Pham Cong Danh, ex-Chairman of the Board of Directors of the Vietnam Construction Bank (VNCB, present name CB), said before court that all the money involved in the case of “deliberately violating State regulations on economic management causing severe consequences” in VNCB was used to serve the bank’s operation, not personal purposes.
The Ho Chi Minh City People’s Court on February 7 decided to return the dossier of the case “deliberately violating State regulations on economic management causing severe consequences” at the Vietnam Construction Bank (VNCB, now Construction Bank – CB), and requested further investigation.
Dang Thanh Binh, former Deputy Governor of the State Bank of Vietnam (SBV), was sentenced to three years in prison for the charge of lacking responsibility causing serious consequences at the Vietnam Construction Bank (VNCB) during the first instance trial in Ho Chi Minh City on July 2.
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Defendant Pham Cong Danh at the trial in January (Source: vov.vn) 
