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On October 26, the Hanoi People’s Court opened a trial in first instance to adjudicate two former BIDV Deputy Directors General and 10 individuals in the case of Mr. Tran Bac Ha manipulating billions of loans.
The case was tried in the Hanoi People’s Court for 10 days. The victim is the Joint Commercial Investment and Development Bank of Vietnam (BIDV).
29 lawyers registered to participate in the defense of the accused, victims, people with related rights and obligations. The Panel convenes people with related rights and obligations, such as representatives of the Ha Tinh Provincial People’s Committee, the Central Credit Council, members of the Board of Directors of BIDV, Binh Ha Company, Trung Dung Company, Thai Nguyen Iron and Steel Company and about 100 people and related organizations, including Mr. Phan Duc Tu, President of the Board of Directors of BIDV.
In the procedural part, the Panel announced that it had cited Mr. Phan Duc Tu, Chairman of the Board of the BIDV as a person with related rights and obligations, but he was absent, authorizing another person. It was attended by Mr. Vo Huu Hao, Deputy Director of the Planning and Investment Department of the province, on behalf of the Ha Tinh People’s Committee, in addition there were representatives from Binh Ha Company, Thai Nguyen Iron and Steel Company …
The Hanoi VKSND said that despite the lack of several witnesses, representatives of the parties, and many people with related rights and obligations, these people had testimonies during the investigation, so they asked the Panel to continue the trial.
Mr. Tran Bac Ha, former Chairman of the Board of Directors of BIDV Bank, was identified as the mastermind of the case, but in July 2019 he died in prison, for which his investigation was suspended.
Former Deputy General Director of BIDV Tran Luc Lang. Image: Pham du
Eight former bank officials will be tried on charges Violations of the regulations on loans in the operations of credit institutionsAccording to Clause 3, article 179 of the 1999 Penal Code, among them: Tran Luc Lang (53 years old, former deputy general director of BIDV in charge of risk management), Doan Anh Sang (59 years old, former general deputy director of BIDV in charge of corporate clients), Kieu Dinh Hoa (59 years old, former BIDV director of Ha Tinh branch), Le Thi Van Anh (36 years old, former director of BIDV clients department in Ha Tinh branch), Ngo Duy Chinh (57 years old, former director of BIDV Ha Thanh branch), Nguyen Xuan Giap (46 years old, former deputy director of BIDV Ha Thanh), Pham Hong Quang (41 years old, former director of BIDV Ha’s client office Thanh), Dang Thanh Nam (39, former BIDV officer Ha Thanh).
4 people were tried on charges Entrusting the abuse to appropriate property, according to Clause 4 Article 175 of the Penal Code 2015: Tran Anh Quang (38 years old, former CEO of Binh Ha Company), Dinh Van Dung (55 years old, former CEO of Binh Ha Company), Doan Hong Dung (59 years old, former director of Trung Dung company), Nguyen Thi Thanh Son (57 years old, capital contributor to Trung Dung company, former director of Ha Nam company).
The defendant Dinh Van Dung. Image: Pham du
According to the indictment, from 2008 to 2016, Mr. Tran Bac Ha held the position of Chairman of the Board of the BIDV, representing 40% of the state capital of this bank. In March 2015, Mr. Ha took advantage of the BIDV presidency and worked directly with the Provincial Party Committee and the People’s Committee of Ha Tinh Province to promote investment in the livestock project in this locality. Later, Mr. Ha established a backyard company, Binh Ha, with a registered capital of 200 billion VND; Cow breeding project with a total investment of more than 4.2 billion VND, expected scale of 150,000 cows per year. Purpose of borrowing capital from the BIDV.
From 2015 to November 2018, the BIDV Ha Tinh branch disbursed Binh Ha more than 2.6 billion VND. After that, BIDV was unable to control the cash flow after the deals so that Binh Ha Company shareholders could use the loans for improper purposes, through the contractors to appropriate and appropriate the disbursement.
Since Binh Ha implemented the project, the company’s business and production activities have accumulated losses totaling more than 900 billion dong. As of the time of prosecuting a criminal case (November 2018), the total principal balance is more than 1.2 billion VND. The total outstanding loans in BIDV that cannot be recovered amounts to almost 800 billion dong.
Defendant Doan Hong Dung, former director of Trung Dung Company, in court on the morning of October 26. Image: Pham du
President Tran Bac Ha also pressured the defendants who are subordinates of BIDV at the Ha Thanh branch to disburse 26 loans to Trung Dung Company, of which 20 disbursements did not meet the correct rate of guarantee. loan disbursement to reverse debt. As a result, BIDV lost more than 864 billion dong.
VKSND Supreme determined that Trung Dung Company and director Doan Hong Dung were responsible for repaying BIDV the outstanding balance of more than 600 billion VND; Mr. Dung and his wife, the defendant Nguyen Thi Thanh Son, also have to jointly compensate BIDV more than 263 billion VND were allocated.
