On November 21, the first instance trial of 15 defendants in the case that occurred at Xuyen Viet Oil Trading, Transport and Tourism Company Limited (Xuyen Viet Oil Company) continued with the questioning session.
Using the Stabilization Fund for investment and false reporting
At the trial, defendant Mai Thi Hong Hanh, Director of Xuyen Viet Oil Company, admitted that she did not open an identified account as prescribed to receive money from the Price Stabilization Fund but used a regular account. This made it impossible for the bank to manage and did not detect that the defendant had withdrawn money from the fund for personal use.
The defendant confessed to using 219 billion VND from the Price Stabilization Fund for real estate business projects, while also borrowing money from many banks and mobilizing other financial resources of the company for investment.
Defendant Mai Thi Hong Hanh.
When asked about the fund account having only over 2 million VND but still signing a report with sufficient balance, Ms. Hanh explained that since 2022, the company has fallen into a state of tax debt, banned from import and export and almost bankrupt.
Regarding the debt of VND 1,244 billion in environmental protection tax that Xuyen Viet Oil was assigned to collect, the defendant said that this was the tax debt for about 3 months due to the company's financial difficulties during the COVID-19 pandemic. At that time, the petroleum business was losing money, so the company was forced to use money from the stabilization fund and tax money to maintain operations.
The owner of Xuyen Viet Oil admitted that she had personally withdrawn most of the money from the account, while the rest was withdrawn by Nguyen Thi Nhu Phuong (Deputy Director, cousin of defendant Hanh) and several other individuals under the direction of the company. Phuong stated that she did not understand the nature of the act until she was questioned by the investigating agency.
Remedial action
Defendant Hanh pledged to use all of her existing assets to remedy the consequences, including assets under the company’s and her own name, and some assets under the name of others. Ms. Hanh said she had handed over 13 assets, including a villa in Mui Ne (Binh Thuan) worth about 10 billion VND. The company also owns 3 unmortgaged oil tankers, which she plans to sell to supplement financial resources for the remedy.
The defendant confessed to having bribed former Deputy Minister of Industry and Trade Do Thang Hai with $50,000 to get support for reissuing a business license when the application was returned. This act was to ensure urgent import of goods during the pandemic, causing a shortage of supply.
The defendants at trial.
According to the indictment, Ms. Mai Thi Hong Hanh is the legal representative, Director and Chairwoman of the Board of Directors of Xuyen Viet Oil Company. During the process of operating the petroleum business at the Company, taking advantage of her position and authority, Ms. Hanh violated regulations on management and use of the Price Stabilization Fund and environmental protection money, causing a loss of state assets of VND 1,463 billion. Of which, the loss from the Price Stabilization Fund was VND 219 billion, the loss from environmental protection tax was VND 1,244 billion.
Specifically, Ms. Hanh did not direct her staff to set aside money for the Price Stabilization Fund according to regulations, but instead directed her subordinates to transfer money into her personal account.
After that, Ms. Hanh used this money to buy, lend to friends, spend on personal expenses, and bribe some individuals at the Ministry of Industry and Trade, the Ministry of Finance, etc.
Regarding the collection, management and transfer of environmental protection tax, Ms. Hanh intentionally used the collected money for personal purposes without transferring the money to the State budget.
In total, Ms. Hanh gave bribes 22 times with a total amount of more than 31 billion VND to 8 individuals. Of which, former Deputy Minister of Industry and Trade Do Thang Hai received 1.1 billion VND to help Xuyen Viet Oil Company reissue export and import business licenses for key traders and those directly in charge of them that were about to expire.
As for the former Secretary of Ben Tre Provincial Party Committee, Mr. Le Duc Tho was accused of receiving bribes of more than 13 billion VND, taking advantage of his position and power to influence others to gain profits of more than 22 billion VND.
Specifically, since 2018, Mai Thi Hong Hanh has known Mr. Le Duc Tho because Xuyen Viet Oil Company has a credit relationship with the bank where Mr. Tho is the Chairman. Ms. Hanh asked Mr. Tho to help provide a credit limit and extend the credit limit maintenance period for Xuyen Viet Oil.
With the act of Abusing position and power to influence others for personal gain, the indictment determined that in 2021, Mr. Tho was transferred and assigned to hold the position of Secretary of the Ben Tre Provincial Party Committee.
To enhance his own reputation, Mr. Tho suggested that Mai Thi Hong Hanh establish a branch or subsidiary of Xuyen Viet Oil in Ben Tre to pay taxes to increase the province's budget revenue. In return, this company will be facilitated to implement real estate, seaport, and tourism projects in the locality.
After establishing Viet Oil Joint Stock Company in Ben Tre (Viet Oil Company), the former Secretary repeatedly used his position to influence and facilitate Viet Oil Company in production and business activities.
Source: https://vtcnews.vn/ba-chu-xuyen-viet-oil-thua-nhan-dung-quy-binh-on-dau-tu-bat-dong-san-va-hoi-lo-ar908729.html
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