Prosecutor for Former Deputy Head of Ho Chi Minh City Party Office | News

PC03 conducts a search at the home of defendant Pham Van Thong

Four defendants were prosecuted and arrested, including: Pham Xuan Trung (Deputy Director General of IPC), Tran Manh Khoi (Head of the Sadeco Control Board); Huynh Phuoc Long (former specialist of the Ho Chi Minh City Party Committee Office, former member of the Sadeco Board of Directors), Doan Minh Ly (Deputy Head of the IPC Accounting Department).

As pointed out YouthOn the morning of November 21, PC03 together with the Ho Chi Minh City People’s Protection Institute divided into 13 shots and recorded the whereabouts and workplaces of the 13 accused above.

At around 10:30 am, at Mr. Pham Van Thong’s residence (Binh Loi Street, Ward 13, Binh Thanh District), the competent forces searched and confiscated some documents related to the case. At approximately 11 a.m. on the same day, the prosecution went to the headquarters of the IPC (District 7) to search the workplace of the accused on this occasion. Around 1:00 p.m. the same day, the search ended.

According to PC03, 13 defendants were prosecuted for errors in the approval of the plan, issuing 9 million shares to strategic shareholder Nguyen Kim Company for 40,000 VND / share, causing losses to Sadeco of 208 billion VND. .

Previously, also related to this error, PC03 prosecuted 4 defendants, including: Te Tri Dung (former CEO of IPC and President of Sadeco), Ho Thi Thanh Phuc (former CEO of Sadeco), Tran Cong Thien (former director General of Tan Thuan Investment and Construction Company Limited – TACONVES) and Huynh Phuoc Long.

How to cause a loss of 208 billion dong?

According to the initial investigation, Sadeco is a subsidiary of IPC (a 100% state-owned company with a registered capital of around 2.9 billion VND). Total

Based on the proposal of Sadeco CEO Ho Thi Thanh Phuc on April 24, 2017, the capital management representative group of the Ho Chi Minh City Party Committee, including Huynh Phuoc Long and Tran Cong Thien at Sadeco, introduced the office leaders. The Ho Chi Minh City Party Committee plans to issue shares to strategic shareholders to increase Sadeco’s share capital. On April 28, 2017, the Ho Chi Minh City Party Committee Office received a report (submitted by the defendant Pham Van Thong) inquiring about the policy of the Permanent Under Secretary of the City Party Committee. from Ho Chi Minh, Tat Thanh Cang, on the plan to issue shares to strategic shareholders to increase share capital in Sadeco. Based on the “agreement” on the report, the Ho Chi Minh City Party Committee Office issued Notice No. 495-TB / VPTU dated May 18, 2017 for the defendant Pham Van Thong (in at that time the deputy head of the City Party Committee) signed and announced the direction of the Permanent Undersecretary of the Municipal Party Committee on the plan to issue shares to strategic shareholders to increase the capital stock of Sadeco.

In accordance with this announcement, he approved the policy for the Ho Chi Minh City Party Committee to vote to approve the plan to issue shares to strategic shareholders, increasing the capital stock of Sadeco; appointed the City Party Office to lead the investment capital management representative of the Ho Chi Minh City Party Committee in Sadeco to implement the above policy at the company’s 2017 General Shareholders’ Meeting.

Along with the state shareholder’s request that IPC be approved by the Ho Chi Minh City People’s Committee to reduce the state capital ratio from 44% to 28.8%, Sadeco completed the issuance of shares to strategic shareholders. The strategy is Nguyen Kim Company, increasing its registered capital from 170 billion VND to 260 billion VND.

According to the Investigation Agency, the strategic shareholder selection process is not fully reported, transparently, incorrectly evaluated the real capacity of the strategic partner, the issue price of shares to strategic shareholders is not true. value of the assets and potential of the company, without legal basis, does not guarantee the interests of Sadeco as well as of the existing shareholders … Therefore, the issue

9 million shares for strategic shareholders (Nguyen Kim Company) at the price of 40,000 dong / share, not through auction valuation, causing losses to Sadeco of 208,000 million dong.

Those who “support”?

Defendant Thong knows that the regulations on the transfer of the right to purchase shares must be auctioned and the share price must be appraised by an organization with the pricing function, knowing that the designated sale of shares to Nguyen Company Kim is not strictly regulated. However, defendant Thong still agreed to propose to the representative capital management group of the Thanh Party Committee to sell 9 million shares without auction to Nguyen Kim Company at a fixed price of VND 40,000 / share.

For the group of defendants Luong Tri Cuong, Doan Thi Minh Trang, Phung Duc Tri, the CSDT agency determined that these 3 defendants had advised, proposed and signed for the approval of the issuance of shares to strategic shareholders. For the accused group, which included Huynh Phuoc Long, Tran Cong Thien, Tran Dang Linh, the CSDT agency determined that these 3 defendants had signed a plan to issue shares to increase the share capital of the strategic shareholders, Nguyen Company. Kim.

Preventive measures changed due to failed reports According to the CSDT, the defendant Huynh Phuoc Long (photo) has participated in the process of determining the price of the issue of 9 million shares at a price of 40,000 VND / share without auction, as well as the identification of Nguyen Kim Company. is a strategic shareholder. Defendant Long has tried to help Nguyen Kim Company buy 9 million Sadeco shares in the past. However, the defendant Long declared the nature of the incident unsubstantiated, concealing the reason for the legalization of documents, reports and the lack of cooperation in the investigation process. For this reason, the CSDT has proposed changing the preventive measures from the prohibition to leave residence to the arrest of the accused to fight for exploitation, clarifying the role of the people involved in this case.