Former bank chairman caused more than 1,053 billion VND in damage and then fled
According to the Supreme People's Procuracy, if the former bank chairman causes damage of more than VND1,053 billion and then flees without appearing or surrendering, he will be considered to have given up his right to self-defense and will be investigated, prosecuted, and tried in absentia according to regulations.
The Supreme People's Procuracy has just completed the indictment to prosecute the defendants Nguyen The Binh - former Chairman of the Board of Directors of Agribank, Duong Thanh Cuong (former Chairman of the Board of Directors and General Director of Binh Phat Company), and a number of former officers of Agribank Branch 6 including Ho Dang Trung (former branch director), Ho Van Long (former head of credit department), Do Ngoc Dung (former credit officer) for the crime of "Violation of regulations on lending in the operations of credit institutions".
According to the accusation, with the purpose of borrowing and using money while not qualified to borrow and repay the loan, from 2007 to 2010, through personal relationships, Mr. Duong Thanh Cuong was directed by Mr. Nguyen The Binh to Mr. Ho Dang Trung to lend Mr. Cuong capital at branch 6 of the bank.
Following Mr. Binh's instructions, from April 2007 to 2010, Mr. Trung directed his subordinates and related individuals to commit a series of violations such as: legalizing procedures to increase credit judgment rights for branches; legalizing loan conditions, credit records, collateral records with assets being projects that had not been approved for investment by competent authorities... causing losses to the bank of more than VND 1,053 billion.
According to the Supreme People's Procuracy, Mr. Nguyen The Binh clearly knew that the bank branch lent capital to Mr. Duong Thanh Cuong's company and THY Company to buy land to carry out the project while the projects of these companies did not have enough legal conditions to be implemented, and there was no basis to evaluate feasibility and effectiveness according to regulations.
However, Mr. Binh still agreed with Mr. Cuong and directed his subordinates to carry out procedures to raise the credit judgment level, allowing Binh Phat Company and THY Company to borrow capital.
The actions of former Chairman Nguyen The Binh directly created conditions for defendants at the bank to legalize credit records for Binh Phat Company and THY Company to borrow capital against regulations, causing losses to the bank of more than VND 1,053 billion.
It is worth mentioning that during the investigation, Mr. Binh had left Vietnam so his statement could not be taken. The Ministry of Public Security's Investigation Police Agency has issued a wanted notice for Mr. Binh.
According to the Supreme People's Procuracy, if Mr. Binh does not appear or surrender, he will be considered to have waived his right to self-defense and will be investigated, prosecuted, and tried in absentia according to the procedures prescribed in Joint Circular No. 05/2025/TTLT-BCA-VKSNDTC dated July 1, 2025, regulating coordination between prosecution agencies in investigating, prosecuting, and trying suspects and defendants in absentia.
Borrowing money from the bank and spending it for the wrong purpose
In relation to the case, Mr. Duong Thanh Cuong is alleged to have borrowed money from the bank to buy land and settle debts, and for personal expenses. When Mr. Nguyen The Binh agreed to borrow money from Branch 6, Mr. Cuong fraudulently created and legalized documents and colluded with defendant Ho Dang Trung to use assets such as land use rights and projects that did not meet the legal and asset value requirements to appraise and use as collateral.
The accusation is that Mr. Cuong lied about the purpose of the loan and the use of the capital. All the money he borrowed was used for other purposes, such as paying off debts, spending on personal expenses, and not accounting for it in the company's books.
The defendant also colluded with individuals at the bank to sign contracts to buy and sell assets mortgaged to the bank, creating documents and files to legalize THY Company to sign a loan contract of 385 billion VND and Mr. Cuong used it to pay debts and interest, including paying off a medium-term loan of 303.1 billion VND.
Mr. Duong Thanh Cuong played a role throughout the case, directly violating the credit conditions and the entire loan was appropriated and used by Mr. Cuong. Therefore, the Supreme People's Procuracy affirmed that Mr. Cuong must be responsible for all damages in the case, amounting to more than 1,053 billion VND.
