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Trinh Xuan Thanh gets life sentence
The Saigon Times Daily
Tuesday,  Feb 6, 2018,23:17 (GMT+7)

Trinh Xuan Thanh gets life sentence

The Saigon Times Daily

HCMC - The Hanoi People’s Court on February 5 sentenced former PetroVietnam Construction Corporation (PVC) chairman Trinh Xuan Thanh to life imprisonment for misappropriation at Petrovietnam Power Land JSC (PVP Land), the second life sentence for the former PVC executives this year.

Former director of Petro Song Da Trading and Investment JSC Dinh Manh Thang got a nine-year jail term, according to news website Dan Tri.

In addition, Dao Duy Phong, former PVP Land chairman; Nguyen Ngoc Sinh, former PVP Land general director; Thai Kieu Huong, former deputy general director of Vietsan Investment JSC; Le Hoa Binh, former chairman of Minh Ngan JSC; and Nguyen Thi Kim Thoa, former accountant of Minh Ngan JSC, were given jail terms of eight years to life for similar counts.

PVP Land’s holding in Trans Pacific Company was at the helm of Thanh, Sinh and Phong. However, they had abused their positions and powers to appropriate assets.

These defendants had connived together to sell 12.12 million PVP Land-held shares in Trans Pacific Company at a price equivalent to VND34 million per square meter of land, lower than the deposit price of VND52 million, to appropriate VND49 billion (US$2.16 million).

Thanh played a decisive role in selling PVP Land shares and received VND14 billion from the deal. Besides, Thang pocketed VND5 billion, Phong VND8 billion, Sinh VND2 billion and Hung VND20 billion.

The court stated that violations of the defendants are extremely harmful to society, eroding the public confidence in economic effectiveness of State-owned enterprises.

However, Thanh said he did not appropriate assets while Thang said he was in the dark about the PVP Land share transfer.

Thanh will have to stay behind bars for the rest of his life as he did not sincerely admit his wrongdoing, according to the verdict. He had been earlier sentenced to life in jail for intentionally violating State regulations on economic management causing serious consequences in a court case last month.

As for Thang, he had incited Thanh, Phong and Sinh to arrogate assets. However, he admitted his wrongdoing and gave back VND5 billion.

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