Former shareholder of Dai Tin bank faces criminal proceeding
The police department for combating corruption and economic crime started criminal proceeding against Hua Thi Phan, a former shareholder of the Dai Tin bank, now the Vietnam Construction Bank (VNCB), and searched her house and office on March 24.
Previously, at a trial for the losses of over 9 trillion VND (404 million USD) at the VCNB, the court decided to launch criminal proceeding against Phan for “violating the lending regulations of credit institutions”, and “deliberately violating State regulations on economic management causing severe consequences”.
She later appealed against the ruling, but the court rejected the appeal.
Phan was accused of wrongdoings that resulted in a negative 2.8 trillion VND (112.89 million USD) in owner's equity and cumulative losses of over 6.6 trillion VND (290.4 million USD) at the Dai Tin bank before it was sold to VNCB ex-Chairman Pham Cong Danh.
The criminal proceeding against Phan is considered the second stage of the VNCB case.
Two other former managers of Dai Tin bank, former chairman Hoang Van Toan and former CEO Tran Son Nam, were also arrested in January in the VNCB’s second stage.
She later appealed against the ruling, but the court rejected the appeal.
Phan was accused of wrongdoings that resulted in a negative 2.8 trillion VND (112.89 million USD) in owner's equity and cumulative losses of over 6.6 trillion VND (290.4 million USD) at the Dai Tin bank before it was sold to VNCB ex-Chairman Pham Cong Danh.
The criminal proceeding against Phan is considered the second stage of the VNCB case.
Two other former managers of Dai Tin bank, former chairman Hoang Van Toan and former CEO Tran Son Nam, were also arrested in January in the VNCB’s second stage.
