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Former BIDV chairman Tran Bac Ha absent from hearing

The Saigon Times Daily
Tuesday,  Jan 9,2018,20:29 (GMT+7)
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Former BIDV chairman Tran Bac Ha absent from hearing

The Saigon Times Daily

HCMC – Former BIDV chairman Tran Bac Ha did not attend or send his representative to the trial of the second stage of a corruption case at Vietnam Construction Bank (VNCB) on January 8 at the HCMC People’s Court, Tien Phong newspaper reports.

The case which was considered the biggest corruption scandal recorded in the country’s banking sector occurred at VNCB, Tien Phong Bank, BIDV and Sacombank, causing economic losses of more than VND6 trillion (US$260 million).

Ha was subpoenaed by the court due to his alleged involvement in the case. He had signed 12 reports on approvals of members of the Risk Management Committee of BIDV offering loans for 12 companies of former VNCB chairman Tran Cong Danh. Danh later used the loans for personal purposes, causing losses of VND2.55 trillion.

BIDV has taken back VND4.7 trillion as principals and interest of the loans.

Besides, three other BIDV officials, namely Hoang Long Ha, Nguyen Ngoc Son and Nguyen Vu Bao, had deliberately violated regulations to help Danh.

Investigators have not established that if Ha and his accomplices benefited from the lending or not, so they have not been accused of deliberately violating regulations on economic management causing serious consequences.

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Giấy phép Báo điện tử số: 321/GP-BTTT, cấp ngày 26/10/2007
Deputy Editor-in-Chief: Pham Huu Chuong
Managing Editors: Nguyen Van Thang, Huynh Cam Tung
Head Office: 35 Nam Ky Khoi Nghia St., Dist.1, Ho Chi Minh City, Vietnam. Tel: (84.8) 829 5936; Fax: (84.8) 829 4294.
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