Former insurance company executive jailed for embezzlement.
(Baonghean.vn) - As an accountant and cashier at a life insurance company, Trung abused his position and authority to embezzle over 570 million VND. After 20 years of fleeing abroad, Trung was arrested and had to pay the price for his embezzlement.
On May 22nd, the People's Court of Nghe An province held a first-instance trial to hear the case against defendant Hoang Trung (born in 1978), residing in Hoa Hieu ward, Thai Hoa town (Nghe An province), for the crime of "Embezzlement of assets"
Hoang Trung worked as an accountant and cashier at the Customer Service Department, Region 5, Nghe An Life Insurance Company from August 1, 2002 to February 28, 2003. Trung's duties included collecting payments from customers, insurance agents, and other sources; managing and depositing collected funds into the insurance company's account; disbursing cash; and managing accounting records.
From February 6th to February 28th, 2003, during the course of his work, Trung abused his position and authority by not depositing money into the company's account but instead leaving it in the unit's safe. Through this, Trung embezzled the money he was responsible for managing, causing a loss of over 570 million VND to Bao Viet Life Insurance Corporation.
With the stolen money, Trung sent 5 million VND to his parents, gambled on football betting, and lost some of it.
On March 6, 2003, Hoang Trung fled his hometown to Thailand and Laos. Subsequently, the Police Investigation Agency issued a decision to initiate a criminal case, indict the suspect, and issue an arrest warrant for Hoang Trung. In October 2023, after 20 years on the run, Trung was apprehended by law enforcement.
At the trial, the defendant showed a sincere attitude in confessing and expressing remorse for his criminal actions.
The defendant confessed that after discovering that some money was missing from the funds he was entrusted with managing, he became worried. He then took company money to gamble on football matches with the intention of recouping his losses. However, the more he gambled, the more he lost. Out of fear, he then fled to Laos.
Before the trial, the defendant had his family compensate the life insurance company for all damages. A representative from the company, who attended the trial, requested leniency for the defendant.
After considering all aspects of the case, the panel of judges sentenced Hoang Trung to 7 years in prison for the crime of embezzlement.
