Hanoi (VNA) - The High-level People’s Court in Hanoi on October 10started hearing appeals of defendants in the case related to “abusing position and powerto appropriate assets” at the State-run VietnamShipbuilding Industry Group (Vinashin).

During thefirst-instance trial in June 2019, the court sentenced former Chairman of theVinashin Council of Members Nguyen Ngoc Su to 13 years in prison, former ChiefAccountant cum head of the Finance and Accounting Department Tran Duc Chinh to17 years, former General Director Truong Van Tuyen to 7 years, and formerDeputy General Director Pham Thanh Son to 6 years behind bars.

The courtalso requested the defendants to pay back the money they illegallyappropriated.

According to the indictment, they togetheragreed to make fixed-term deposits at OceanBank to gain extra interest that wasnot stated in deposit contracts.

Investigators found that from2010 to June 2014, Vinashin made more than 2,300 fixed-term deposit contractsinvolving nearly 104 trillion VND (4.52 million USD) and some 181 million USDwith OceanBank.

From March 2011 to August2014, Chinh received more than 105 billion VND in extra interest fromOceanBank. As agreed by the four, Chinh was assigned to receive and manage theextra interest to use for the firm’s activities and divide up the money amongthem.

Su initiated the depositing,signed 12 deposit contracts and gained 8 billion VND himself. Authorised byTuyen, Chinh also signed many deposit contracts at OceanBank and appropriated10 billion VND, while Tuyen pocketed 3.5 billion VND and Son bagged 1.2 billionVND.

The court, held at the appealof the Hanoi People’s Procuracy and defendants, will last till October 11 andthe final verdict will be announced on October 14./.