Former Navibank CEO sentenced to 13 years in prison
The court rejected all appeals of the former general director of Navibank and his accomplices, in depositing money at Vietinbank, causing a loss of 200 billion VND.
After nearly three weeks of trial and deliberation, on the afternoon of March 19, the People's Court of Ho Chi Minh City sentenced Le Quang Tri (former General Director of Navibank) to 13 years in prison for the crime ofIntentionally violating State regulations in economic management causing serious consequences.
As accomplices, defendants Nguyen Giang Nam, Nguyen Hong Son, Huynh Vinh Phat, and Doan Dang Luat (former deputy general director, head of capital resources department, head of accounting department, and corporate customer relations department) received 11-12 years in prison; four other defendants received 7-10 years in prison.
The People's Court ordered Navibank to return more than 24 billion VND of illegal profits (interest received from Huyen Nhu) to the public fund.
In addition, the court recommended that the Ministry of Public Security and the Supreme People's Procuracy continue to consider the responsibility of individuals and Vietinbank employees who showed signs of helping Huyen Nhu embezzle VND200 billion from Navibank.
According to the People's Court, in 2010-2011, defendant Tri and the credit council approved the policy of using more than 1,500 billion VND of Navibank deposited at VietinBank Ho Chi Minh City branch with interest rates exceeding the ceiling of up to 22.5%, creating conditions for Huyen Nhu to appropriate 200 billion VND from Navibank. Of the more than 95 billion VND in interest, Navibank received more than 24 billion VND in interest outside the contract from Nhu.
|
Former Navibank CEO and accomplices listen to the verdict. Photo:Hai Duyen. |
The defendants defied the prohibitions of Circular No. 2/2011 of the State Bank.on the ceiling interest rate deposit,Regulations on lending and credit approval for customers according to the Law on Credit Institutions;carry out fake contracts, through employees bringing Navibank's money to Vietinbank to enjoy high interest rates.
Through Vo Anh Tuan (Deputy Director of Vietinbank Nha Be branch), Doan Dang Luat agreed on the deposit interest rate and then informed Tri.Navibank's credit council headed by defendant Tri then met and voted 100% in agreement with the policy of transferring money to Vietinbank.
During the interrogation, the defendants all admitted their wrongdoings but did not admit to the charges. While lThe statements of Navibank employees all confirmed that they had no need to borrow money from Navibank nor did they receive any interest. They only helped the bank deposit the money in Vietinbank with high interest rates.
"The nature of the money deposited was Navibank's money, not the bank employees' money, so the defendants' actions violated Circular 02 and the Law on Credit Institutions. From there, there is enough basis to conclude that the defendants committed the crime as prosecuted," the verdict stated.
Liability for civil compensation of 200 billion VND has been resolved.at the Supreme People's Court's appeal judgment in the first phase of the trial of Huyen Nhu's case. The judgment has come into effect.so it is not within the scope of this case.
In 2015, the Supreme People's Court in Ho Chi Minh City heard the appeal and sentenced Huyen Nhu to life in prison for the crime.Fraudulent appropriation of propertyandForging seals and documents of organizations. The court also partially annulled the first instance judgment and re-investigated the case to clarify the conduct.Embezzlement of propertyNhu and Tuan's role in appropriating 1,085 billion VND from five companies. During the re-investigation, the Supreme People's Procuracy prosecuted 10 more defendants who were former leaders and officials of Navibank (currently Nam Viet Commercial Joint Stock Bank). During the time of handling and researching the case, all 10 defendants claimed innocence, while the investigation period had expired, the Ho Chi Minh City People's Court requested the investigation agency to separate the actions of these people to handle separately because it was independent from the Huyen Nhu case. |
