On June 19, the court heard the appeal of Mr. Dinh La Thang.
Former Chairman of Vietnam National Petroleum Corporation Dinh La Thang and six other defendants will have their charges and compensation reviewed, according to their appeals.
The appeal hearing in the case of irregularities at the Vietnam Oil and Gas Group (PVN) is scheduled to open on June 19th at the Hanoi High Court, presided over by Judge Nguyen Vinh Quang.
Mr. Dinh La Thang has four lawyers defending his legal rights and interests.
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Former Chairman of the Board of Directors of PVN, Dinh La Thang, at the first-instance trial of the case involving PVN's investment in Oceanbank, which caused losses of 800 billion VND.Photo: VNA |
According to the first-instance verdict issued three months ago, from September 2008, Mr. Dinh La Thang directed and decided for the group to invest capital in Oceanbank. Mr. Thang was well aware of Oceanbank's weak capabilities and knew that according to legal regulations, investing capital to become a strategic shareholder of this credit institution required reporting to and obtaining the approval of the Prime Minister. However, the former chairman of PVN deliberately failed to comply and directed his subordinates to act contrary to state regulations.
At that time, Vu Khanh Truong, Nguyen Thanh Liem, Nguyen Xuan Thang, and Phan Dinh Duc, who were members of the PVN Board of Directors, along with Nguyen Xuan Son (Deputy General Director) and Ninh Van Quynh (Chief Accountant), were identified as having implemented Thang's directives and policies.
Due to numerous irregularities at Oceanbank, it was acquired by the State Bank of Vietnam for 0 dong in mid-2015, resulting in the loss of 800 billion dong of PVN's capital contribution. According to authorities, the cause of this 800 billion dong loss was the illegal actions of Mr. Thang and his co-defendants.
The trial court sentenced Mr. Thang to 18 years in prison for the crime.Intentionally violating state regulations on economic management, causing serious consequences.(Article 165, Penal Code 1999) and ordered to pay 600 billion VND in compensation.
Defendants Son, Truong, Liem, Duc, and Thang received sentences ranging from 15 months of non-custodial rehabilitation to five years in prison for the same crime. Mr. Quynh was sentenced to seven years in prison under Article 165 and 16 years for abuse of power and authority to appropriate property (Article 280 of the 1999 Penal Code). These six defendants must share the responsibility of compensating PVN for 200 billion VND in damages.
Following the verdict, he appealed, requesting a review of the charges, sentence, and civil liability. The remaining defendants requested leniency and exemption from civil liability.
newsnewsWhy did PVN lose 800 billion VND when investing in OceanBank?
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Graphics: Tien Thanh |
