HCMC – Le Duc Tho, former secretary of Ben Tre Province’s Party Committee and former chairman of state-run VietinBank, will start standing trial on November 20 in HCMC on charges of accepting huge bribes in connection with the Xuyen Viet Oil case.
The HCMC People’s Court is holding a hearing of the Xuyen Viet Oil case on charges of bribery, abuse of power, and mismanagement of state assets. The trial is scheduled to last until December 5.
Mai Thi Hong Hanh, director of Xuyen Viet Oil, will also be brought to court on charges of embezzling state funds and bribing officials.
Approximately 30 defense attorneys, including three for Tho, are attending the trial, which has summoned 95 witnesses and relevant parties.
The indictment alleges that Tho accepted US$600,000 in bribes, Patek Philippe watches and a Mercedes car from Hanh between 2019 and early 2020, while he was overseeing credit approvals at VietinBank, where he served as CEO and then chairman. Tho allegedly facilitated favorable lending to Xuyen Viet Oil, including a preferential credit limit of VND400 billion, low interest rates, and collateral concessions.
According to prosecutors, Hanh provided Tho with substantial gifts, including a US$421,000 Patek Philippe watch, an S450 Mercedes-Benz car valued at VND6.67 billion, and a golf set worth VND1.1 billion.
During the investigation, Tho arranged for his family to return VND16.7 billion to mitigate the impact.
The investigation uncovered further corruption, implicating former Deputy Minister of Industry and Trade Do Thang Hai. Prosecutors allege that in mid-2021, Hai received US$50,000 from Hanh to expedite an import-export license for Xuyen Viet Oil. Hai reportedly repaid VND730 million during the inquiry.
