Trinh Xuan Thanh received an additional life sentence, Dinh Manh Thang received 9 years in prison
The court sentenced Trinh Xuan Thanh to life in prison and Dinh Manh Thang to 9 years in prison for embezzlement of property at PVP Land.
On the morning of February 5, after deliberation, the People's Court sentenced defendant Trinh Xuan Thanh (former Chairman of the Board of Directors of Vietnam Oil and Gas Construction Joint Stock Corporation - PVC) and 7 accomplices in the case of embezzlement of assets that occurred at Vietnam Oil and Gas Power Real Estate Joint Stock Company (PVP Land).
Former Chairman of the Board of Directors of PVC Trinh Xuan Thanh received a life sentence. This is the second life sentence that defendant Trinh Xuan Thanh has been sentenced to within the past half month. Previously, at the first instance trial of the case that occurred at PVN and PVC, defendant Trinh Xuan Thanh was also sentenced to a total of life imprisonment for two crimes of intentionally violating the State's regulations on economic management causing serious consequences and embezzlement of assets that occurred at the Vietnam National Oil and Gas Group - PVN and PVC.
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| Trinh Xuan Thanh (white shirt) and Dinh Manh Thang at the first instance trial of the case of property embezzlement that occurred at PVP Land (Photo: VNA) |
Defendant Dinh Manh Thang (former Chairman of Song Da Petroleum Investment and Trading Company - younger brother of Mr. Dinh La Thang) was sentenced to 9 years in prison for embezzlement of property.
The case's developments show that when Le Hoa Binh wanted to buy the entire Nam Dan Plaza project (with 5 shareholders, of which PVP Land holds more than 50% of the shares), he went through Huynh Nguyen Quoc Duy, Thai Kieu Huong, and Dinh Manh Thang to get Trinh Xuan Thanh to agree to sell shares at a lower price than the actual price.
Le Hoa Binh signed a deposit contract with a price of 52 million VND/m2 of project land, but then Binh only paid this price to 4 other shareholders. As for more than 50% of PVP Land's shares, Binh only bought them at a price of 34 million VND/m2.
In return, the defendants Dinh Manh Thang, Huynh Nguyen Quoc Duy, Trinh Xuan Thanh and other defendants all received "thank you" payments of billions of dong. Trinh Xuan Thanh was transferred 14 billion dong, and Dinh Manh Thang 5 billion dong. However, Thanh and Thang returned this money after the investigation agency initiated the case.
Defendant Trinh Xuan Thanh colluded with accomplices to transfer shares at PVP Land at a price lower than market value to enjoy a difference of 49 billion VND, causing damage to PVP Land of 87 billion VND./.