Dong Nai Provincial People's Court has opened two first-instance trials (October 25 and November 8) to try two defendants, former leaders of the State Bank of Vietnam (SBV) Dong Nai branch, including: Tran Quoc Tuan (62 years old, former Director) and Vo Khac Hien (55 years old, former Deputy Director, concurrently Chief Inspector and Supervisor of the SBV Dong Nai branch).
Defendant Tran Quoc Tuan at the trial on October 25
However, both times the trial had to be postponed: the first time because defendant Hien was absent (had a stroke and was treated at the hospital), the second time because the prosecutor of Dong Nai Provincial People's Procuracy had to go on a sudden business trip and could not attend the trial.
The two defendants Tuan and Hien were tried for "lack of responsibility causing serious consequences", allowing 6 people's credit funds (TDND) including Tan Tien, Quang Tien, Thai Binh, Dau Giay, Thanh Binh and Gia Kiem to go bankrupt, lose their ability to pay, causing losses of more than 1,350 billion VND (occurring from 2014 - 2017). In which, the role of defendant Tuan was shown "more clearly".
AMENDING INSPECTION CONCLUSION
According to the indictment, defendant Tuan was lax in inspection and supervision work, and also interfered with inspection results, did not conduct inspections according to the direction of the State Bank, approved the plan to elect the Chairman of the Board of Directors of Thanh Binh People's Credit Fund when the conditions were not met... causing 6 people's credit funds to go bankrupt, lose their ability to pay, causing losses of more than 1,350 billion VND.
The building, formerly the headquarters of Tan Tien People's Credit Fund, has been abandoned for many years.
Specifically, at Thanh Binh People's Credit Fund, in 2017, through inspection, the inspection team of the State Bank of Vietnam, Dong Nai branch, found that the balance on the books was 193 billion VND, but in reality, only about 50 billion VND was deposited in credit funds to deal with the situation; at the same time, 98 credit files were discovered to have signs of fake files. Therefore, the inspection team asked for more time to verify and check, but defendant Tuan did not agree.
In addition, the inspection team also determined that Thanh Binh People's Credit Fund had committed many administrative violations, however, defendant Tuan ignored all serious violations, only allowing 3 violations to be fined with a total amount of 23 million VND. After that, defendant Tuan also revised the inspection conclusion.
"Although concluding that Thanh Binh People's Credit Fund was at "risk of insolvency", Tuan only applied the form of "increased regular supervision" without applying special control to handle violations and ignored the above errors, leading to Thanh Binh People's Credit Fund going bankrupt in November 2017, causing a loss of more than 275 billion VND", quoted from the indictment.
CONTINUOUS COVER-UP FOR Tan Tien PEOPLE'S CREDIT FUND
Among the 6 insolvent People's Credit Funds, Tan Tien People's Credit Fund caused the heaviest loss with a total amount of nearly 810 billion VND. According to the indictment, from 2014 to 2017, defendant Tuan found many reasons not to sign the decision to inspect Tan Tien People's Credit Fund. Even the 2016 report pointed out signs of insecurity at Tan Tien People's Credit Fund, in early 2017 the State Bank directed the inspection of Tan Tien People's Credit Fund, but defendant Tuan still did not sign the inspection decision but only asked his subordinates to "assess the situation".
After being informed and knowing that Tan Tien People's Credit Fund had some serious violations such as "limited management and operation capacity; lack of strict control; no specific measures to avoid lending to the wrong subjects, wrong purposes, creating fake credit records, borrowing on behalf of others, borrowing on behalf of others...", defendant Tuan directed not to inspect Tan Tien People's Credit Fund, instead defendant Tuan signed document No. 06/ĐNA6.m (stamped confidential) dated July 28, 2017 requesting Tan Tien People's Credit Fund to rectify and overcome the violations.
"The fact that Tran Quoc Tuan did not sign the decision to inspect Tan Tien People's Credit Fund in 2014 - 2017 led to the consequence that on November 23, 2017, Tan Tien People's Credit Fund lost its ability to pay, went bankrupt, causing a loss of 809.8 billion VND," the indictment stated.
Also from 2014 to 2017, defendant Tuan did not conduct an inspection of the Quang Tien People's Credit Fund, allowing the fund's director to withdraw and embezzle money, causing a loss of nearly 131 billion VND.
HOW DID PEOPLE'S CREDIT FUNDS SEIZE MORE THAN 1,350 BILLION VND?
Due to the lax inspection and supervision work of the former Director and former Deputy Director of the State Bank of Vietnam, Dong Nai branch, 6 People's Credit Funds had the "conditions" to appropriate people's deposits, using the following tricks: mobilizing deposits with high interest rates and paying credit interest outside the contract in violation of regulations; creating fake credit records to legalize records, creating false periodic control reports; creating 2 accounting systems to exclude most of the capital mobilized from customer deposits, falsifying loan records, raising loan limits, paying fake salaries, legalizing records to withdraw mobilized money from customers' savings deposits from People's Credit Funds, taking mobilized money from customers' savings deposits at commercial banks but under their personal names with the purpose of withdrawing money to credit funds to avoid being detected by authorities, and appropriating and using it for personal purposes.
The leaders of the above-mentioned People's Credit Funds have also been prosecuted, arrested and brought to trial since 2019. Of which, Van Van Nghia (48 years old) is the owner of 3 People's Credit Funds: Tan Tien, Thanh Binh and Dau Giay. From 2011 to 2016, with the permission of the State Bank of Vietnam, Dong Nai branch, Van Van Nghia established Tan Tien People's Credit Fund, then bought back Thanh Binh and Dau Giay People's Credit Funds. Nghia appropriated and lost a total of more than 1,100 billion VND at these 3 People's Credit Funds. In November 2019, Dong Nai Provincial People's Court tried and sentenced Nghia to 19 years in prison for abuse of trust to appropriate property, and forced Nghia to compensate the victims a total of more than 1,100 billion VND.
In September 2019, Dong Nai Provincial People's Court tried and sentenced Nguyen Tien Lam (46 years old, residing in Bien Hoa City, Director of Quang Tien People's Credit Fund) to 15 years in prison for the crime of abusing trust to appropriate property, forcing Lam to compensate more than 126 billion VND for the amount of misappropriation.
In July 2023, Dong Nai Provincial People's Court tried and sentenced 6 defendants for abusing trust to appropriate property at Gia Kiem People's Credit Fund to 10-13 years in prison, forcing the 6 defendants to compensate a total amount of more than 22.8 billion VND.
Regarding the Thai Binh People's Credit Fund, the indictment said that it caused a loss of 53 billion VND. The indictment stated: "The violations at the Thai Binh People's Credit Fund were the beginning of a series of credit violations, the premise for a series of subsequent violations by 5 People's Credit Funds in Dong Nai". However, in 2017, the State Bank of Vietnam said that Vu Cong Liem, Director of the Thai Binh People's Credit Fund, had fled. In February 2018, the Investigation Security Agency of Dong Nai Province Police issued a wanted notice for Liem.
Charges changed for former Director of State Bank of Vietnam Dong Nai branch
According to the indictment, on September 4, 2020, Tran Quoc Tuan was prosecuted by the Investigation Police Agency of Dong Nai Province for the crime of "abusing position and power while performing official duties", as prescribed in Clause 3, Article 365 of the Penal Code 2015, amended and supplemented in 2017.
On May 22, 2023, the Investigation Police Agency of Dong Nai Province Police issued a decision to change the decision to prosecute Tran Quoc Tuan from the crime of "abusing position and power while performing official duties" to the crime of "lack of responsibility causing serious consequences" as prescribed in Article 285 of the 1999 Penal Code, amended and supplemented in 2009.
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