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Former General manager of oil and gas industry was prosecuted

Friday - 04/01/2019 18:59
Mr. Tu Thanh Nghia is accused of signing many deposit contracts at Oceanbank and receiving outside interest of over VND 2.1 billion.
Mr. Nghia (left) and Mr. Huy were arrested.
Mr. Nghia (left) and Mr. Huy were arrested.
The Supreme People's Procuracy of Vietnam has accused Tu Thanh Nghia (Former General Manager of Viet-Russia Joint Venture Vietsovptro (VSP) and Vo Quang Huy (former chief accountant VSP) of charges of abuse of positions and rights asset expropriation, according to Article 355 of the Criminal Code 2015 (with a penalty of 20 years or life imprisonment).

Hanoi People's Procuracy is assigned to practice the right to prosecution and to conduct first instance trial.

According to the accusation, from the end of 2008, VSP opened a payment account and used some term deposit contracts at Ocean Commercial Joint Stock Bank (Oceanbank).

In 2009, following the direction of the Vietnam Oil and Gas Group (PVN) to prioritize the use of Oceanbank's financial services that PVN contributed 20% of its charter capital, VSP generated many term deposit contracts; regularly maintain a large balance on payment accounts at Oceanbank Vung Tau Branch.

The prosecution agency determined that from the end of 2008 to 2014, VSP signed 54 deposit contracts, totaling more than VND 13,000 billion; signed 70 contracts totaling 1,260 million USD. For demand deposits, VSP opened 4 payment accounts at Oceanbank with monthly balances maintained from 200 billion to 900 billion VND and from 10 million USD to 400 million USD.

The indictment stated that in the period from July 2013 to 2014, when he became general manager, Mr. Nghia signed 4 contracts (VND 1,900 billion) and 5 contracts (USD 55 million). Mr. Huy was accused of signing the proposal for deposit and submitting to the general director to sign all the above contracts.

According to the policy of Ha Van Tham (former chairman of Oceanbank's Board of Directors) on the non-cash interest payment of capital mobilization for customers throughout the system, in 2013-2014, Ms. Nguyen Minh Thu (former CEO) Oceanbank) has five times received money from accounts of individuals at Vung Tau and HCM City branches transferred to Nghia and Huy.

Through the introduction of Nguyen Xuan Son (former Oceanbank general director), Ms. Thu gave the extra interest to Mr. Huy, Nghia. Specifically, in 2013-2014, Ms. Thu brought outside interest for Huy five times, total amount of nearly 8 billion dong (three times in 2011, Mrs. Thu did not remember the amount given); Nghia three times with the amount of more than 2.1 billion. Every time he gave money, Thu wrote to the general director and chief accountant of VSP "interested" in Oceanbank.

At the trial of Ha Van Tham phase I, summoned to court, the two men did not acknowledge being paid outside interest because of "fear of criminal liability". However, during the time of arrest, investigation, Mr. Huy and Nghia claimed to have received the money given by Mrs. Thu.

The Supreme People's Procuracy of Vietnam noted that Mr. Huy's family has paid over VND 4.1 billion; Mr. Nghia paid all the appropriated amounts to overcome the consequences, and the two accused were declared. In addition, in the course of their work, Mr. Nghia, Huy received many honors and medals from Vietnam and the Russian Federation, so the prosecution agency proposed to reduce the punishment when judging the case.

Author: Translated by CoPhieuViet.Com

Source: Vnexpress newspaper

 Tags: VSP

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