Four former leaders of the state-owned Vietnam Shipbuilding Industry Group (Vinashin), now the Shipbuilding Industry Corporation (SBIC), have been charged with abusing position and power to appropriate assets.
This is the second phase of the case, as the first phase resulted with two executives, Truong Van Tuyen, the company’s former General Director, and Pham Thanh Son, Deputy General Director being accused of transferring funds for individual use.
In this part of the case, accused of violations is former Chairman of the Board of Directors of the Ocean Commercial Joint Stock Bank (OceanBank) Ha Van Tham and his accomplices.
The accused are former Chairman of the Members’ Council of Vinashin/SBIC Nguyen Ngoc Su, former General Director of the firm Truong Van Tuyen, former Deputy General Director Pham Thanh Son and former Chief Accountant Tran Duc Chinh.
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According to the court’s statement, they jointly agreed to make ‘fixed’ deposits at OceanBank to gain additional financial interest that didn’t exist in deposit contracts.
Also, the investigators reported that from 2010 to 2014 Vinashin made more than 2.300 fixed-term deposit contracts involving nearly 104 trillion VND and some 181 million USD with OceanBank.
Specifically, from March 2011 to August 2014, Chinh received more than 105 billion VND in extra interest from OceanBank. The four accused had agreed than Chihn was responsible for receiving and managing the additional interest, in favour of the firm’s activities and dividing the money amongst the four.
The court revealed that Su began the depositing, signed 12 deposit contracts and also won 8 billion VND for himself. Authorised by Tuyen, Chinh also signed many deposit contracts at OceanBank.
Concluding, the four appropriated a total of 10 billion VND for themselves.
