Mr. Trinh Xuan Thanh continues to be proposed for life imprisonment
The People's Procuracy believes that although former PVC chairman Trinh Xuan Thanh did not admit to embezzling 14 billion VND, there is enough evidence to convict him.
The trial of Mr. Trinh Xuan Thanh and seven accomplices in the case of embezzlement of property (Article 278 of the 1999 Penal Code) occurring at the Vietnam Oil and Gas Power Real Estate Company (PVP Land) is scheduled to take place from January 24 to February 7.However, on the second working day, the trial entered the debate phase with the Procuracy proposing sentences for 8 defendants, all prosecuted for the crime of Embezzlement of property (according to Article 278 of the 1999 Penal Code).
This afternoon, Mr. Trinh Xuan Thanh was proposed to be sentenced to life in prison, Mr. Dinh Manh Thang (former chairman of the board of directors of Song Da Petroleum Investment and Trading Company, younger brother of Mr. Dinh La Thang - former chairman of the board of directors of Vietnam Oil and Gas Group): 11-12 years; Le Hoa Binh (former chairman of the board of directors of 1/5 company, Minh Ngan): 9-10 years; Dao Duy Phong (former chairman of PVP Land): 17-18 years; Nguyen Ngoc Sinh (former general director of PVP Land): 14-15 years; Thai Kieu Huong (former deputy general director of Vietsan company): 11-12 years, Huynh Nguyen Quoc Duy (freelance broker): 11-12 years, Nguyen Thi Kim Thoa (former chief accountant of Minh Ngan company): 8-9 years.
According to the prosecution, defendant Trinh Xuan Thanh, in court as well as at the investigation agency, did not admit to directing or agreeing to sell shares at a price lower than their actual value to divide and appropriate the difference.However, with the investigation documents, the People's Procuracy determined that on February 10, 2010, Mr. Thanh gave instructions on continuing to invest and implement the Nam Dan Plaza project. At this meeting, Mr. Thanh clearly understood the information about the project, in which the land use value was 25 million USD (equivalent to about 52 million VND/m2).
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| Defendant Trinh Xuan Thanh |
But after meeting with Dinh Manh Thang and Thai Kieu Huong at the restaurant, Mr. Thanh agreed to the transfer plan at the price of 34 million VND/m2.
According to the People's Procuracy, the trial results at the trial had sufficient grounds to conclude that the defendants had colluded to sign the transfer of shares at a price of 34 million VND/m2, while the actual value was 52 million VND/m2, to take the difference and divide it among themselves.
The People's Procuracy accused Mr. Thanh of receiving 14 billion VND; Thang of appropriating 5 billion VND; Phong of 8 billion VND; Sinh of 2 billion VND; Hung of appropriating 20 billion VND. In total, the defendants appropriated 49 billion VND out of the total 87 billion VND price difference.
The indictment determined that the defendants' actions were particularly serious; causing serious consequences, causing the Nam Dan project to stagnate, not being put into operation, causing damage, affecting people's trust.
The defendants Thanh, Phong, and Thang are all people with positions and authority, but because of personal interests, they could not overcome material temptations;showing vested interests, corruption.
According to the People's Procuracy, the defendants' violations constituted the crime of embezzlement of property. However, applying the principle of benefit, the defendants were tried for the crime of corruption at point a, clause 4, article 353 of the 2015 Penal Code. The People's Procuracy also proposed to reduce part of the sentence when Mr. Thanh returned 14 billion VND...
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| * The embezzlement case occurred at PVPLand |
