Credit Fund Director and subordinates sentenced for embezzlement of nearly 24 billion VND

Nghe An Provincial People's Court has just opened a trial of the case.Embezzlement of propertyat the People's Credit Fund (TDND) of Nghi Hoa commune, Nghi Loc district (Nghe An). The 5 defendants brought to trial include Nguyen Thanh Cong - former Director of the People's Credit Fund of Nghi Hoa commune, Dang Van Thanh - Deputy Director, Tran Thi Ngoc Ha - Chief Accountant, Tran Thi Ha Phuong - Credit Appraisal Officer, Nguyen Thi Phuong Thao - Cashier.

According to the indictment, while working at the Nghi Hoa Commune People's Credit Fund from 1996 to October 2023, due to needing capital for business, sending his daughter to study abroad and buying a house in Australia, Nguyen Thanh Cong directed subordinates to create fake documents and certificates, and complete many loan applications.

After that, Cong borrowed money from Nghi Hoa Commune People's Credit Fund for personal expenses. By September 3, 2019, Cong's outstanding debt from the fake records was nearly 24 billion VND.

Due to not being able to pay the above outstanding amount to the Credit Fund, from September 4, 2019 to October 10, 2020, Cong made his own loan application, using the name of the borrower as a member of the Credit Fund.

After that, Cong directed Dang Van Thanh, Tran Thi Ngoc Ha, Tran Thi Ha Phuong, and Nguyen Thi Phuong Thao to complete the loan documents for him. The purpose of this subject was to finalize and legalize on the documents and vouchers the amount of money from the previously created fake loan documents.

Although they knew that the documents directed by the Director of the Credit Fund were fake, Thanh, Ha, Phuong, and Thao still faked 124 loan applications for Cong to disburse on documents and vouchers worth nearly 24 billion VND.

After that, Cong sold his house and assets to recover more than 9.1 billion VND and then fled to Australia. Nghe An Provincial Police issued a wanted notice, coordinated with units under the Ministry of Public Security, the Ministry of Foreign Affairs and the Vietnamese Embassy in Australia to carry out procedures to extradite Nguyen Thanh Cong to Vietnam to serve the investigation of the case, but so far there have been no results.

Based on the indictment of the People's Procuracy of Nghe An province and the evaluation of documents and evidence in the case file, as well as the testimony of Cong and related persons, the People's Court of Nghe An province decided to try Nguyen Thanh Cong in absentia.

At the trial, the defendants admitted to their crimes. Defendant Thanh stated that because he was a subordinate, he acted under the direction of defendant Cong.

The remaining defendants in the case also admitted to following the instructions of defendant Cong. In this case, the defendants did not benefit in any way.

The panel of judges determined that the defendants’ actions had caused negative public opinion and loss of public trust. In this case, defendant Cong was the mastermind and was sentenced to life in prison.

The remaining defendants in the case were fully aware that their actions were wrong, but because they were considerate and obeyed orders from their superiors, they still carried them out. The court sentenced Dang Van Thanh to 5 years in prison. The two defendants Tran Thi Ngoc Ha and Tran Thi Ha Phuong were sentenced to 3 years in prison. The defendant Nguyen Thi Phuong Thao was sentenced to 2 years and 6 months in prison, suspended.