Bank employee prosecuted and detained for embezzling billions of dong.
Deeply in debt of approximately 20 billion VND due to online and real estate investments, Pham Kieu Hung, an employee of a bank, embezzled billions of VND from customers.
The Office of the Investigation Agency of the Dak Lak Provincial Police announced that it has issued a decision to prosecute and an order to temporarily detain a bank employee for investigation into a crime.Fraudulent appropriation of property, as stipulated in Clause 4, Article 174 of the Criminal Code.
Accordingly, Pham Kieu Hung (born in 1995, residing in Quynh Ngoc village, Ea Na commune, Krong Ana district, Dak Lak province) is a credit officer of Vietnam International Commercial Joint Stock Bank (VIB Bank) branch in Dak Lak province.
According to initial investigations, Pham Kieu Hung worked at this bank from 2019 to 2023. In 2021, Hung participated in online investment (by depositing money into a virtual online trading platform) and real estate investment. Initially, seeing profits, Hung borrowed more money to invest.
By August 2022, Hung had invested a total of 4.6 billion VND. However, by early 2023, Hung suffered losses, and his debt had risen to approximately 20 billion VND, requiring him to pay 80 million VND in interest each month.
Hung tried every way to recover the money he had lost, so he continued to borrow money from many other people. To gain trust, Hung deceived people by promising to handle bank loan refinancing for clients in order to borrow money from others. By February 2023, facing numerous debt demands, Hung forged loan disbursement requests and promissory notes (by creating fictitious documents and falsifying client signatures).
Subsequently, Hung obtained the signatures of VIB bank executives to disburse funds into the accounts of two relatives, who then transferred 4.7 billion VND back into Hung's account. Hung used this money to pay off debts and continue making speculative investments online.
Pham Kieu Hung's actions were discovered by VIB Bank's Dak Lak branch. On June 15, 2023, VIB Bank's Dak Lak branch issued a disciplinary decision to dismiss Pham Kieu Hung for embezzling customer funds.
During the investigation, the police determined that between March 28 and April 6, 2023, Hung provided information about needing to repay bank loans in order to borrow money from many people for virtual investments on the internet and to pay off debts. Among these loans, Hung borrowed 1.5 billion VND from a resident of Cu M'gar district (Dak Lak province). When the repayment deadline arrived, Hung failed to repay the debt and is currently unable to repay the borrowed amount.
Based on that, the Investigation Agency Office of the Dak Lak Provincial Police determined that Pham Kieu Hung's actions constituted the crime of fraud and appropriation of property.
