Monday,  Dec 17, 2018,13:02 (GMT+7) 0 0
OceanBank case to go before court
Quang Chung
Tuesday,  Dec 27, 2016,23:08 (GMT+7)

OceanBank case to go before court

Quang Chung

Former OceanBank chairman Ha Van Tham - PHOTO: TL

HCMC – The Supreme People’s Court has issued indictments against 48 people involved in the OceanBank scandal.

They are charged with violating lending rules, abusing power and deliberately infringing State regulations on economic management causing serious consequences.

Earlier, the Steering Committee for Anti-corruption took legal action against six high-profile graft cases, including the OceanBank case which will be brought to court in the first quarter of next year.

The mastermind behind the OceanBank case that has drawn much public attention is the former chairman of the bank, Ha Van Tham.

According to the indictments, Tham and his accomplices violated the regulations on lending, capital mobilization and interest rates that caused heavy losses for OceanBank and shareholders, and left negative impact on the nation’s monetary policy.

In 2010-2014, more than 51,000 individuals and 392 organizations deposited money at the bank and received interest rates that were higher than the permitted levels, a violation of the then banking rules.  

Tham and his accomplices caused losses of VND2 trillion (US$88.1 million) for the State, the indictments said.

Right after those irregularities had been detected, the State Bank of Vietnam suspended Tham from the chairman and board member roles. In late October 2014, he was detained by the police.   

In July last year former chairman of Vietnam National Oil and Gas Group (PVN) Nguyen Xuan Son was also detained over alleged involvement in wrongdoing committed by Ha Van Tham.

Son was ex-general director of OceanBank years before he was picked by the Prime Minister as chairman of PVN in July 2014.  

Son is charged with abusing power while on duty and deliberately violating State regulations on economic management causing serious consequences.

The ministry said in a statement on July 22 that during the investigating into the case involving Tham and his accomplices at OceanBank, Son appeared to be one of the accomplices.

 

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