Jail terms proposed for defendants in Navibank case
The Ho Chi Minh City People’s Procuracy on March 12 proposed jail sentences of 8-15 years for ten former Navibank officials involving in the case of “deliberately violating State regulations on economic management, causing serious consequences” at the bank.
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Accordingly, a 14-15 year imprisonment was sought for former General Director Le Quang Tri.
Meanwhile, a jail sentence of 12-13 years was suggested for Doan Dang Luat (former chief of the capital source division), Huynh Vinh Phat (former chief of the accounting division), Tran Thanh Binh (former chief of the division for relations with client businesses) and former Deputy General Director Nguyen Giang Nam.
Former Deputy General Directors Cao Kim Son Cuong and Nguyen Hung Son are expected to spend 10-11 years behind bars while Dinh Thi Doan Trang (former chief of the client services division) may be given a 9-10 year imprisonment.
A prison term of 8-9 years was demanded for Pham Thi Thu Hien (former chief of the legal division) and Nguyen Ngoc Oanh (former chief of the risk management division).
They all faced the charge of “deliberately violating State regulations on economic management, causing serious consequences.”
According to the indictment of the Supreme People’s Procuracy, from November 19, 2010 to May 27, 2011, the credit council of Navibank, which comprised Le Quang Tri, Cao Kim Son Cuong, Nguyen Hung Son, Nguyen Giang Nam, Tran Thanh Binh, Dinh Thi Doan Trang, Pham Thi Thu Hien, and Nguyen Ngoc Oanh, signed a document giving credit of VND1,543 billion (US$67.4 million) to 14 employees who later deposited the money at the Nha Be branch of Vietinbank to gain the extra interest that was not shown in contracts.
The extra interest that Huynh Thi Huyen Nhu, former deputy chief of the risk management department of the HCM City branch of VietinBank, paid was more than VND24 billion (US$1 million), of which over VND15 billion was transferred to the account of Huynh Vinh Phat and over VND9 billion in cash given to Doan Dang Luat.
Nhu took advantage of the defendants’ acts to appropriate VND200 billion (US$8.7 million) of Navibank, according to the indictment.
At the March 12 trial, the procuracy suggested the judge panel take back VND24 billion (US$1 million), which, they said, should be added to the State coffer.
According to the procuracy, the defendants’ acts have violated State regulations on economic management, harmed the prestige of State management agencies in the banking sector and partially affected the country’s financial and monetary during 2010-2011.
