HCMC – In a case related to the loss of VDN8.8 trillion incurred by HCMC-based DongA Commercial Joint Stock Bank, law enforcement agencies have repeatedly asked Ba Son Corporation to repay VND250 billion, but it has refused to do so to date.
At a trial for the case on June 24, the HCMC People’s Procuracy issued the indictment again, where Tran Phuong Binh, former general director and vice chairman of the bank, directed other defendants and relevant individuals to perform unlawful acts related to loan deals, causing a hefty loss for DongA Bank.
Binh instructed his subordinates to illegally make loans of VND250 billion to Dong A Investment and Construction JSC. The money was then transferred to M&C which in turn transferred the money to Ba Son on October 31, 2011.
During the investigation, this amount was identified as an illegal investment and material evidence. As such, the investigation agencies have repeatedly written to Ba Son Corporation asking it to transfer VND250 billion to the Ministry of Public Security’s account for investigation purposes.
As Ba Son has yet to fulfill the request to date, the HCMC People’s Procuracy continued to order the firm to repay the money at the trial, Nguoi Lao Dong Online reported.
Tran Phuong Binh is set to go on trial on July 15 for violations of lending regulations and abusing his power to misappropriate assets, while the other 11 defendants, who were found to be Binh’s accomplices, will stand trial on the same day for violations of lending regulations.