Tuesday,  Jun 19, 2018,10:15 (GMT+7) 0 0
Asset appropriation case at DongA Bank undergoes further investigation
The Saigon Times Daily
Tuesday,  Apr 17, 2018,20:45 (GMT+7)

Asset appropriation case at DongA Bank undergoes further investigation

The Saigon Times Daily

HCMC – The Supreme People’s Procuracy on April 16 returned an asset appropriation case at DongA Bank Commercial Joint Stock Bank to the Ministry of Public Security for further investigation, Tien Phong newspaper reports.

The Ministry of Public Security had earlier transferred the case to the Supreme People’s Procuracy for conclusion and for pressing charges against violators in the case. Investigators found that Tran Phuong Binh, former general director of DongA Bank, had deliberately violated State regulations on economic management and abusing trust for misappropriation of assets, causing losses of more than VND3.4 trillion (US$149.3 million).

Binh owned 10.25% of DongA Bank’s chartered capital and his family members 7.7%. His violations had caused combined losses of nearly VND31.1 trillion for the bank as of the end of 2015, according to an investigation.

As for the count of abusing trust for appropriating VND1.7 trillion, Binh had allegedly assigned his staff to illicitly allocate VND1.16 trillion to buy DongA Bank’s shares and VND249 billion to buy US$13.9 million and VND309 billion for personal purposes.

Binh was also accused of violating State regulations on economic management, causing losses of VND1.6 trillion for the bank. He was found to direct the illegal allocation of VND601 billion, illegal gold export leading to losses of VND611 billion, and illicit remittance trade resulting in losses of VND384 billion.

Besides, 20 others face prosecution, including former DongA Bank deputy general directors Nguyen Thi Ngoc Van and Nguyen Thi Kim Xuyen, and former directors of DongA Bank’s transaction offices.

The Ministry of Public Security also found violations of Phan Van Anh Vu, alias Vu Nhom, who was arrested in Hanoi for allegedly disclosing State secrets. However, the investigation period has expired, so the ministry will coordinate with the Supreme People’s Procuracy to continue the investigation later.

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