Dinh La Thang (second from left) has submitted his written appeal asking the Hanoi People’s Court for reconsidering his charge, penalty and civil responsibility. (Photo: VNA) Hanoi (VNA) – Dinh La Thang, former Chairman of the Member Council ofthe Vietnam Oil and Gas Group (PetroVietnam), who involved in the notoriousOceanBank case, has submitted his written appeal asking the Hanoi People’sCourt for reconsidering his charge, penalty and civil responsibility.
Earlier, the court on March 29 handed down an 18-year jail sentence to Thangfor his principal role in the OceanBank case that caused losses of 800 billionVND (35.2 million USD) to the State budget.
The Hanoi People’s Court has also received written appeals of other fivedefendants in the case after two weeks it issued the verdicts for thefirst-instance judgment. They included Nguyen Xuan Son, former Deputy GeneralDirector of PetroVietnam, sentenced to 30 months in prison; Vu Khanh Truong,former member of the Member Council of PetroVietnam, sentenced to 5 years injail; Nguyen Thanh Liem and Phan Dinh Duc, who are also former members of thePetroVietnam Member Council, receiving non-custodial re-education periods of 20months and 15 months, respectively; and Ninh Van Quynh, former chief accountantand former head of the department of finance, accounting and auditing of PetroVietnam,23 years behind bars.
The jury asked the defendants to compensate 800 billion VND for the losses theycaused to PetroVietnam. Of the total, Dinh La Thang has to refund 600 billionVND (26.4 million USD); Ninh Van Quynh, 100 billion VND (4.4 million USD); andVu Khanh Truong, 40 billion VND (1.76 million USD). Each of the four otherdefendants has to give back 15 billion VND (660,000 USD) to the State.
Ninh Van Quynh, who was found abusing his position and power to misappropriate20 billion VND (880,000 USD) from OceanBank, had previously refunded theamount.
In 2008, after failing to establish Hong Viet Commercial Joint Stock Bank,PetroVietnam decided to invest in OceanBank.
From 2008 to 2011, Dinh La Thang instructed and decided on PetroVietnam’sinvestment in OceanBank to become a shareholder of the bank.
Under his instruction, Vu Khanh Truong, Nguyen Thanh Liem, Nguyen Xuan Thang,Phan Dinh Duc, Nguyen Xuan Son and Ninh Van Quynh carried out threecontributions of the group’s capital totaling 800 billion VND to OceanBank.
Due to OceanBank’s poor capability and violations committed by Ha Van Tham,former Chairman of OceanBank’s Board of Directors, the bank suffered seriouslosses, leading to the loss of the whole 800 billion VND invested by PetroVietnamwhen the State Bank of Vietnam was forced to buy OceanBank at zero VND.-VNA
VNA
