Former OceanBank Chairman Ha Van Tham in court (Source: VNA) Hanoi (VNA) - The People’s Court of Hanoi on August 28 opened the firstinstance hearing for former Chairman of the Board of Directors of the OceanCommercial Joint Stock Bank (OceanBank) Ha Van Tham and other 50 defendants forserious violations of the State’s monetary policies.
The trial saw thelargest number of people being summoned, numbering 727, includingcivil plaintiffs, those who were involved in interests and duties, witnesses,and assessors.
Inone of the biggest economic crime cases in Vietnam, Tham and other 50 former executives and employees of the bank are facing chargesof appropriating assets, breaching loan regulations of credit institutions,abusing positions and power while on duty, and intentionally acting againstState regulations on economic management causing serious consequences.
Among51 defendants, seven were detained and 44 others were out on bail.
Of57 lawyers defending the defendants, two pled for Tham and four others defendedformer OceanBank General Director Nguyen Xuan Son.
Three were absentdue to health reasons, including former Chairwoman of the Board of Directors ofPhu My investment and development company Hua Thi Phan, former Director ofOceanBank’s accounting and domestic transaction unit Vu Thi Thuy Duong, andformer Director of OceanBank’s Au Co transaction office Nguyen Viet Hien.
According to the Supreme People’s Procuracy, when working asOceanBank’s Chairman of the Board of Directors, Tham and his accomplices made alot of credit-related violations causing losses for the bank and seriouslyaffecting the State’s monetary policies. Their violations resulted in losses ofnearly 2 trillion VND (88 million USD) for the bank.
Specifically,while holding the highest position at the bank, Tham directed his subordinatesto approve a loan for former Chairman of the Vietnam Construction Bank’s Boardof Directors Pham Cong Danh without guaranteeing the lending conditions,collateral and proper purposes, thus causing an economic loss of nearly 350billion VND (15.3 million USD) for the bank.
Hehad directed the bank’s staff to pay interest rates outside of the mobilisingdeposit contracts for customers.
Thamwas arrested in October 2014.
UnderTham’s direction, OceanBank’s bad debts climbed to nearly 15 trillion VND (666million USD), with pre-tax losses reaching more than 10 trillion VND as ofMarch 2014.
Son,who was also representative of the capital contributed to the bank by the VietnamOil and Gas Group (PetroVietnam), had worked with Tham to decide to illegallypay interest rates outside deposit contracts to customers. Although Son was movedto work as leader of PetroVietnam from May 11, 2011, he still directed formerdirector general of the bank Nguyen Minh Thu to continue paying the extrainterest.
Abusinghis prestige, position and the dependence of OceanBank on PetroVietnam, Sonwithdrew more than 246 billion VND (10.69 million USD) from the bank.
TheOceanBank case is one of the six biggest economic crimes that the CentralAnti-Corruption Steering Committee was asked to bring to trial by the firstquarter of 2017.
Thecourt is expected to last 20 days. - VNA
The trial saw thelargest number of people being summoned, numbering 727, includingcivil plaintiffs, those who were involved in interests and duties, witnesses,and assessors.
Inone of the biggest economic crime cases in Vietnam, Tham and other 50 former executives and employees of the bank are facing chargesof appropriating assets, breaching loan regulations of credit institutions,abusing positions and power while on duty, and intentionally acting againstState regulations on economic management causing serious consequences.
Among51 defendants, seven were detained and 44 others were out on bail.
Of57 lawyers defending the defendants, two pled for Tham and four others defendedformer OceanBank General Director Nguyen Xuan Son.
Three were absentdue to health reasons, including former Chairwoman of the Board of Directors ofPhu My investment and development company Hua Thi Phan, former Director ofOceanBank’s accounting and domestic transaction unit Vu Thi Thuy Duong, andformer Director of OceanBank’s Au Co transaction office Nguyen Viet Hien.
According to the Supreme People’s Procuracy, when working asOceanBank’s Chairman of the Board of Directors, Tham and his accomplices made alot of credit-related violations causing losses for the bank and seriouslyaffecting the State’s monetary policies. Their violations resulted in losses ofnearly 2 trillion VND (88 million USD) for the bank.
Specifically,while holding the highest position at the bank, Tham directed his subordinatesto approve a loan for former Chairman of the Vietnam Construction Bank’s Boardof Directors Pham Cong Danh without guaranteeing the lending conditions,collateral and proper purposes, thus causing an economic loss of nearly 350billion VND (15.3 million USD) for the bank.
Hehad directed the bank’s staff to pay interest rates outside of the mobilisingdeposit contracts for customers.
Thamwas arrested in October 2014.
UnderTham’s direction, OceanBank’s bad debts climbed to nearly 15 trillion VND (666million USD), with pre-tax losses reaching more than 10 trillion VND as ofMarch 2014.
Son,who was also representative of the capital contributed to the bank by the VietnamOil and Gas Group (PetroVietnam), had worked with Tham to decide to illegallypay interest rates outside deposit contracts to customers. Although Son was movedto work as leader of PetroVietnam from May 11, 2011, he still directed formerdirector general of the bank Nguyen Minh Thu to continue paying the extrainterest.
Abusinghis prestige, position and the dependence of OceanBank on PetroVietnam, Sonwithdrew more than 246 billion VND (10.69 million USD) from the bank.
TheOceanBank case is one of the six biggest economic crimes that the CentralAnti-Corruption Steering Committee was asked to bring to trial by the firstquarter of 2017.
Thecourt is expected to last 20 days. - VNA
VNA
