The court returned the case file for further investigation into the OceanBank Ha Van Tham case.

On the afternoon of March 8th, after more than an hour of deliberation following the prosecutor's request to return the case file for further investigation into irregularities at OceanBank, presiding judge Tran Nam Ha announced his approval.

The presiding judge stated that, based on the questioning process spanning nearly 10 days and the documents and evidence presented, the court deemed it necessary to further clarify many aspects of the defendants' testimonies. Specifically, regarding defendant Nguyen Xuan Son (former general director of OceanBank), the prosecution for intentionally violating state regulations on economic management was inaccurate and required clarification of the specific charge.

The Vietnam Oil and Gas Group (PVN) is a shareholder and strategic partner with a 20% stake (equivalent to 800 billion VND) in this bank. When irregularities occurred there, resulting in PVN losing the aforementioned amount, Mr. Son's responsibility needs to be clarified. The responsibility of others involved in the investment, capital contribution, and management of this money also needs to be investigated for wrongdoing...

Between 2011 and 2014, thousands of individuals and hundreds of organizations received payments in addition to interest from OceanBank, including many large economic entities. The court found evidence of collusion to keep these payments off the books for illicit gain. The court deemed it necessary to clarify the actions of those involved and thereby have a basis for more accurate handling of the defendants' violations...

Former Chairman of the Board of Directors of OceanBank, Ha Van Tham. Photo: Giang Huy

According to the prosecution's allegations, Mr. Ha Van Tham, in his capacity as Chairman of the Board of Directors of OceanBank, directed and, together with Nguyen Van Hoan (former Deputy General Director of OceanBank), facilitated a loan for Mr. Pham Cong Danh (former Chairman of the Board of Directors of Vietnam Construction Bank) through Trung Dung Company, even though this company did not meet the loan conditions and lacked collateral… causing OceanBank to suffer losses of over 340 billion VND (principal amount).

To mobilize capital from the Vietnam Oil and Gas Group (PVN) to deposit into OceanBank, Mr. Tham conspired with Mr. Nguyen Xuan Son (former general director of OceanBank) to implement a policy of collecting additional interest on loans and exchange rate differences in the form of service contracts to "collect fees" from customers... resulting in losses of nearly 70 billion VND. Based on this accusation, Mr. Tham and Mr. Son were charged with the crime of Abusing Position and Authority while Performing Official Duties.

In late 2010, upon becoming Deputy General Director of PVN, Mr. Son introduced Ms. Nguyen Thi Minh Thu to Mr. Tham, with the aim of promoting her to General Director of OceanBank. Mr. Tham agreed and issued a policy regarding the payment of interest on deposits outside of contractual agreements to customers. Ms. Thu, along with her deputy Le Thi Thu Thuy and several other officials, implemented this policy, causing OceanBank to suffer losses of nearly 1,600 billion VND. Defendants Tham, Son, Thu, and Thuy, along with 43 other officials, are accused of intentionally violating state regulations on economic management, causing serious consequences.

Former CEO of OceanBank, Nguyen Xuan Son. Photo: Giang Huy

On February 27, the Hanoi People's Court opened the first-instance trial of Mr. Tham and 47 co-defendants, who are prosecuted for violating regulations on lending in the activities of credit institutions; abusing their positions and powers while performing official duties; and intentionally violating state regulations on economic management causing serious consequences.

The court is expected to summon approximately 500 people with relevant rights and obligations, and the trial will last for nearly a month. Throughout the past several days of questioning, Mr. Tham has agreed to many of the charges against him. Some other defendants have not admitted guilt.

According to VNE