Prosecution of former Deputy Governor of the State Bank of Vietnam Dang Thanh Binh
The Supreme People's Procuracy has issued an indictment to prosecute Mr. Dang Thanh Binh (63 years old), former Deputy Governor of the State Bank of Vietnam (SBV), for the crime of lack of responsibility causing serious consequences.
On March 22, a source from the Supreme People's Procuracy said that an indictment had been issued to prosecute Mr. Dang Thanh Binh (63 years old), former deputy governor of the State Bank of Vietnam (SBV), for the crime of lack of responsibility causing serious consequences in the case of Pham Cong Danh and his accomplices, causing a loss of more than 9,000 billion VND.
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| Mr. Dang Thanh Binh. |
Previously, on September 8, 2017, the Ministry of Public Security's Investigation Police Agency prosecuted Mr. Binh for his involvement in the case of Pham Cong Danh (former Chairman of the Board of Directors of VNCB, former Chairman of the Board of Members and General Director of Thien Thanh Group Company Limited) and his accomplices.
Four SBV supervisory team officials were also prosecuted in 2015 for negligence in supervising VNCB.
Because in March 2012, after the Prime Minister approved the project "Restructuring the system of credit institutions in the period of 2011-2015", the State Bank established a monitoring team based at Dai Tin Commercial Joint Stock Bank (Trust Bank, renamed VNCB in May 2013). Accordingly, the team will monitor and give opinions on all transactions from 5 billion VND or more. However, the team members did not perform or did not perform properly the assigned tasks, allowing Pham Cong Danh to withdraw more than 18,000 billion VND from VNCB (of which more than 9,000 billion VND had to be consulted with the monitoring team).
The prosecution agency determined that the irresponsible behavior of the four above-mentioned supervisory team members was the main cause leading to the huge property damage at VNCB. The withdrawn money was deposited by VNCB at three commercial banks, Sacombank, TPBank, and BIDV, but the supervisory team did not monitor or prevent it.
At that time, Mr. Binh was the deputy governor of the State Bank of Vietnam, responsible for the overall supervision of VNCB. The prosecution of Mr. Binh was the second phase of this case.
The indictment alleges that Mr. Binh failed to properly perform his functions and duties, failed to properly implement the restructuring plan of VNCB submitted by the State Bank to the Prime Minister, and failed to follow the Prime Minister's instructions to ensure the correctness and accuracy of the financial capacity of Pham Cong Danh's group, but still decided to let Pham Cong Danh participate in management and hold controlling shares to operate VNCB. This caused a loss of more than VND9,000 billion.
Also related to the Pham Cong Danh case, Mr. Tram Be, former Permanent Vice Chairman of the Board of Directors and Chairman of the Sacombank Credit Council and Phan Huy Khang, former General Director of Sacombank were also arrested for assisting Pham Cong Danh...