Mr. Tat Thanh Cang wrote a note about the loss of 1,100 billion, the court date has been set.
From his violations, Mr. Tat Thanh Cang and his accomplices caused damage to the State of more than 1,100 billion VND.
Nearly a month after returning the file and requesting additional investigation in the case related to Mr. Tat Thanh Cang (former Standing Deputy Secretary of the Ho Chi Minh City Party Committee for the 2015-2020 term) and his accomplices, the Ho Chi Minh City People's Court has received the file back and scheduled the trial for December 26.
The trial of the defendants prosecuted for the crimes of "Violating regulations on management and use of State assets causing harm" is scheduled.loss, waste" and "Asset Embezzlement" will last from December 26, 2021 to January 7, 2022, with Judge Nguyen Thi Ha as the presiding judge.
Mr. Tat Thanh Cang and his accomplices were prosecuted for the crime of "Violating regulations on management and use of State assets, causing loss and waste".
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| Mr. Tat Thanh Cang and Te Tri Dung. |
In which, Mr. Te Tri Dung - General Director of Tan Thuan Industrial Development Company Limited (IPC), concurrently Chairman of the Board of Directors of Sadeco Company; Ho Thi Thanh Phuc - General Director of Sadeco and 5 other accomplices were prosecuted for the crimes of "Violating regulations on management and use of State assets causing loss and waste" and "Embezzlement of assets"; Mr. Nguyen Van Minh (former Head of the SADECO Control Board) was proposed to be prosecuted for the crime of "Embezzlement of assets".
According to the prosecution, the Saigon South Development Corporation (Sadeco) has capital contributed by state shareholders including IPC Company, Tan Thuan Construction Investment Company Limited (Tan Thuan Company), Ho Chi Minh City Party Committee Office and other organizations. Sadeco also has a strategic shareholder, Nguyen Kim Company.
At the end of March 2015, IPC auctioned 5.2 million shares to Eximland Company, at the price of VND26,100/share. The shares sold were equivalent to 30.8% of Sadeco's charter capital. Just a few months later, Nguyen Kim Company bought all 5.2 million shares of Eximland Company at the price of VND57,000/share.
In April 2017, the capital representative of the City Party Committee Office and Tan Thuan Company submitted many documents to the City Party Committee Office, proposing to allow the capital management representative group to vote to approve the issuance of 9 million shares, at a price of VND 10,000/share and to issue to strategic shareholders at VND 40,000/share to increase Sadeco's charter capital.
The City Party Committee Office then submitted a document to Mr. Tat Thanh Cang, then the Standing Deputy Secretary of the City Party Committee, requesting policy and proposing to "consider and approve the policy so that the City Party Committee Office can vote to approve Sadeco to issue shares to strategic shareholders, increase charter capital...".
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| Mr. Tat Thanh Cang works with the police. |
Mr. Cang has approved the issuance of 9 million shares to sell to Nguyen Kim Company. This approval by Mr. Cang has caused Sadeco to lose 1,103 billion VND.
In the group of “Asset embezzlement”, including Mr. Te Chi Dung, he took advantage of his position and authority to approve the disbursement of many amounts of money from the reward fund for himself and members of the Board of Directors for personal use contrary to regulations. Mr. Dung personally embezzled over 1.7 billion VND.
Ms. Ho Thi Thanh Truc signed a proposal to pay money and received the money, then transferred it to Mr. Dung, creating conditions for individuals to embezzle state money.
