Appeal trial of 26 defendants in the major case at Oceanbank

This morning, April 18, the High Court in Hanoi opened the appeal hearing of Mr. Ha Van Tham (former Chairman of the Board of Directors of Ocean Commercial Joint Stock Bank - Oceanbank) and 30 accomplices who are his subordinates. The trial is expected to last more than half a month, under the direction of the presiding judge Ngo Hong Phuc.

Mr. Tham and former Oceanbank General Director Nguyen Xuan Son appealed the first instance verdict in September 2017 because they believed they did not commit the crimes of embezzlement and abuse of power and position to appropriate property.

Defendant Nguyen Minh Thu (former)Deputy General Director, former Chairman of the Board of Directors) also requested the appellate court to review the crime of Abuse of position and power to appropriate property and reduce the sentence.

Mr. Pham Cong Danh (former chairman of Thien Thanh Group) and Ms. Hua Thi Phan (former chairman of the board of directors of Phu My Investment Company) appealed the entire verdict.

The remaining 25 defendants asked for reduced charges, reduced sentences, suspended sentences, or exemption from criminal liability. Some related companies appealed the issue of compensation for damages.

However, right before the opening day, five defendants, former branch and transaction office directors of Oceanbank, withdrew their appeals. These people were all sentenced by the first instance court to sentences ranging from 24 months of non-custodial reform to 20 months of suspended imprisonment for the crime of intentionally violating State regulations on economic management causing serious consequences (Article 165 of the 1999 Penal Code).

The first instance verdict showed that from 2010 to 2014, Mr. Tham directed his subordinates to pay nearly 1,600 billion VND in interest outside of the contract to many organizations and individuals who deposited money. Former General Director Nguyen Xuan Son was the one who discussed and made the policy with Mr. Tham. Mr. Son was also accused of receiving 246 billion VND from Mr. Tham and Oceanbank and embezzling it. Of this amount, 49 billion VND was money from the Vietnam National Oil and Gas Group (PVN).

At the end of 2012, Mr. Tham directed his deputy Nguyen Van Hoan to lend Mr. Pham Cong Danh (Chairman of Thien Thanh Group) 500 billion VND through Trung Dung Company while there was no collateral, and the customer used the capital for the wrong purpose. This act was accused of violating the State Bank's regulations on lending regulations, causing Oceanbank to lose more than 500 billion VND (both principal and interest).

The Hanoi People's Court sentenced former Oceanbank chairman Ha Van Tham to life in prison for four crimes: Embezzlement, Abuse of position and power to appropriate property, Violation of regulations on lending in the operations of credit institutions, Intentionally violating State regulations on economic management causing serious consequences (Articles 278, 280, 179, 165 of the 1999 Penal Code).

Mr. Nguyen Xuan Son was sentenced to death under Articles 278, 280, 165. Former General Director Nguyen Minh Thu was sentenced to 22 years in prison under Articles 165 and 280. Former Deputy General Director Nguyen Van Hoan was sentenced to 22 years in prison under Articles 280 and 179.

Mr. Pham Cong Danh was sentenced to 14 years in prison, Ms. Hua Thi Phan was sentenced to 17 years in prison under Article 179. The remaining 42 defendants were sentenced to between 24 months of non-custodial reform and 4 years in prison...

Mr. Tham must compensate Oceanbank more than 800 billion VND, Mr. Son nearly 300 billion VND, and Ms. Phan 500 billion VND./.