Former General Director of Saigon Co.op continues to be proposed for prosecution

On October 28, the Investigation Security Agency (ISA) of Ho Chi Minh City Police changed the charge of Mr. Nguyen Thanh Nhan (former General Director of Saigon Co.op) from "Lack of responsibility causing serious consequences" to "Abuse of power while performing official duties".

Former General Director of Saigon Co.op Nguyen Thanh Nhan.

Accordingly, the Ho Chi Minh City Police Department of Investigation Security has completed the fourth supplementary investigation conclusion, transferred it to the Procuracy, and proposed to prosecute Mr. Diep Dung (former Chairman of Saigon Co.op), Vo Thanh Trung (General Director of New Urban Development Investment Joint Stock Company), Ton That Hao (General Director of Dai A Real Estate Joint Stock Company), for the crime of "Abuse of power while performing official duties".

The Investigation Security Agency also decided to change the charges against Ms. Ho My Hoa (Director of Saigon Co.op Finance Department) and Mr. Nguyen Thanh Nhan from the original charge of “Lack of responsibility causing serious consequences” to “Abuse of power while performing official duties”, as an accomplice with Mr. Diep Dung.

The defendants Tran Trung Liet (former Chief Accountant of Saigon Co.op), Hang Thanh Dan (former Head of the Supervisory Board of Saigon Co.op), Pham Thi Minh Ngoc (former Deputy Supervisory Board of Saigon Co.op), Nguyen Thi Thuy Trang (former Supervisor of Saigon Co.op), were all proposed to be prosecuted for the crime of "Lack of responsibility causing serious consequences".

After conducting additional investigation at the request of the Procuracy, the Investigation Agency has sufficient grounds to conclude the criminal acts of the defendants, as follows:

Regarding defendant Diep Dung, from June 2016 to March 2018, Mr. Dung did not go through the Board of Directors of Saigon Co.op but arbitrarily directed individuals at the Finance Department and Accounting Department of Saigon Co.op to carry out procedures for defendant Diep Dung to transfer VND 1,000 billion from VND 3,000 billion of Saigon Co.op to mobilize capital to carry out the Big C deal and expand the network for Do Thi Moi Company (VND 700 billion) and Dai A Company (VND 300 billion) to carry out investment cooperation, causing a loss of VND 115 billion to Saigon Co.op.

Former Chairman of Saigon Co.op Diep Dung.

According to the Investigation Agency, Mr. Nhan admitted that he was informed by defendant Diep Dung about using VND1,000 billion from VND3,000 billion from Saigon Co.op's capital mobilization account to carry out investment cooperation and agreed to let defendant Ho My Hoa conduct inspection and monitoring of Saigon Co.op's use of VND1,000 billion for investment cooperation under the direction of defendant Diep Dung.

Although he knew that defendant Diep Dung used 1,000 billion VND for investment cooperation, in his role as a member of the Board of Directors and general director in charge of the finance and accounting departments, Mr. Nhan did not direct or request the finance and accounting departments to provide relevant documents and did not fulfill his assigned responsibilities.

In addition, Mr. Nhan did not direct the finance department and accounting department to clarify the basis for accounting for the reduction in revenue from financial activities, but directly approved the 2018 financial report to adjust the reduction in revenue for the profits earned.

According to the Investigation Agency, Mr. Nhan's actions showed intentional neglect of the consequences of the criminal acts of defendant Diep Dung, thereby creating conditions for defendant Diep Dung to complete the crime and leading to damage to Saigon Co.op.

Ms. Ho My Hoa committed violations when she contacted and discussed with the bank about investing 1,000 billion VND with Saigon Co.op, then directly advised (initialized) defendant Diep Dung to sign investment cooperation contracts with Dai A Company for 300 billion VND, and investment cooperation contracts with Do Thi Moi Company for 700 billion VND.

Defendant Tran Trung Liet was the one who signed the payment authorization to transfer 1,000 billion VND from Saigon Co.op's account to Do Thi Moi Company and Dai A Company. Defendant Liet knew that this source of money was capital mobilization to serve Saigon Co.op's production and business, but did not report to the general director and check the documents related to Saigon Co.op's Board of Directors' approval of the cooperation policy, but only followed the instructions of defendant Diep Dung.

Lam Ngoc

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