Huyen Nhu received a life sentence in the 4,000 billion VND fraud case.
On January 27, the court sentenced Huyen Nhu to life in prison and rejected the views of many lawyers who requested that Vietinbank be responsible for compensating the misappropriated money.
The verdict of the Ho Chi Minh City People's Court stated that in 2007, Nhu borrowed over 200 billion VND at high interest rates to invest in real estate business in many provinces and cities. Since 2010, due to business losses and inability to repay debts, Nhu took advantage of his position as head of Dien Bien Phu transaction office to impersonate Vietinbank Nha Be branch and Ho Chi Minh City branch to mobilize money and then embezzle 4,000 billion VND.
The prosecution of Huynh Thi Huyen Nhu for the crimes of Fraudulent appropriation of property and Forgery of seals and documents of organizations, the court determined that the right person, right crime, and right law. Nhu offered high interest rates to lure organizations and individuals, then recklessly committed a series of fraudulent acts such as forging 8 seals of units, forging signatures and deceiving Vietinbank leaders to hide the interest rates outside the contract with these units and individuals. Taking advantage of the loopholes of Vietinbank officials, Nhu appropriated a huge amount of money from 3 banks, 9 companies and 3 individuals.
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| Huyền Như received a total sentence of life imprisonment for the crimes. |
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As an effective assistant to Nhu, Vo Anh Tuan (former deputy director of Vietinbank Nha Be branch) received a 20-year prison sentence for fraud and appropriation of property. According to the court, although Vietinbank Nha Be did not mobilize capital from customers, Tuan still signed the confirmation papers for Nhu to use to defraud and appropriate 80 billion VND from the Pacific Petroleum Company. In addition, Tuan also went to Hanoi with Nhu to negotiate to mobilize 1,600 billion VND from 3 companies Phuc Vinh, Thinh Phat, Hung Yen and then appropriated...
21 other defendants received sentences ranging from one year suspended to 17 years in prison.
Regarding civil liability, the court rejected the lawyers' view that the deposit contract with this bank was real and forced Vietinbank to be responsible for compensation.
In addition, the People's Court also proposed to prosecute and handle 8 other individuals in helping Nhu embezzle 180 billion VND from VIB. The Court recommended to investigate and handle the irresponsible behavior of Nguyen Thi Minh Huong and Truong Minh Hoang (two deputy directors of Vietinbank Ho Chi Minh City branch) in signing contracts with ACB; Ms. Vu Hong Hanh, General Director of Phuong Dong Securities Company in signing 7 false payments for Nhu to embezzle Phuong Dong's money and recommended to handle some other loan sharks.
The court also requested the investigation agency to clarify responsibility for the prolonged violations at Vietinbank; and requested the investigation agency to handle other leaders of ACB and Navibank for allowing employees to sign deposit contracts.
According to VOV
