The Supreme People's Procuracy has just completed the indictment to prosecute the accused La Quang Binh (born in 1979, Chairman of the Board of Directors of ECPAY Company) and 35 others for the crimes of "Violating regulations on banking activities and other activities related to banking activities", "Lending at high interest rates in civil transactions", "Giving bribes", "Receiving bribes".

According to the accusation, in order to have money to repay the VND 1,000 billion loan of ECPAY Company, with the consent of Mr. Dao Hoang Thang (born in 1974, former Branch Director of a bank) and the guidance of Pham Nhu Ha (born in 1974, former Deputy Branch Director of a bank), Nguyen Thanh Nhan (bank officer), Vuong Thi Bich Ngoc (bank officer), from May 2021 to February 2023, Mr. La Quang Binh used 68 companies to create fake loan documents and disbursements, causing a loss of more than VND 948 billion to the bank.

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Mr. La Quang Binh. Photo: ECPAY

In addition, to have money to lend to Mr. La Quang Binh at high interest rates, gain illegal profits and use for personal purposes, the defendants Ha and Ngoc colluded with the defendant Nguyen Hoai Anh (born in 1981, General Director of Tin Viet Investment and Business Joint Stock Company) to use 2 companies of Hoai Anh to create fake loan documents and disbursements, causing losses to the bank of more than 137 billion VND. The total amount of money lost to the bank is more than 1,086 billion VND.

In addition to violating banking regulations, the defendants in the case also committed acts of lending at high interest rates in civil transactions and giving and receiving bribes.

Mr. La Quang Binh was determined to have discussed and agreed with the defendants Pham Nhu Ha, Nguyen Thanh Nhan, and Vuong Thi Bich Ngoc, then directed his sister La Thi Phuong Lien and her subordinates to create fake documents so that the bank could legalize credit applications and disburse loans in violation of the law on banking activities for 64 of Binh's companies.

The indictment determined that the total outstanding debt of 64 companies was more than 2,189 billion VND (principal debt was more than 2,068 billion VND, interest debt was more than 121 billion VND).

Of these, 23 companies have secured assets, 41 companies do not have secured assets. Comparing the total outstanding debt and the total value of the collateral that has been appraised, the bank suffered a loss of more than 948 billion VND.

In addition, Binh also discussed and agreed with his sister to bribe 200,000 EIN shares (equivalent to 2 billion VND) to Mr. Dao Hoang Thang to resolve the problem so that La Quang Binh's Thinh Phat Company would not be transferred to bad debt and continue to be disbursed at the bank.

In this case, La Quang Binh's sister was accused of helping her brother monitor and urge employees to carry out tasks under Binh's direction, such as buying a company and finding a legal representative for Binh's company, contrary to the law on banking activities.

The total outstanding debt of 51 companies is more than 1,934 billion VND, of which 20 companies have secured assets, 31 companies do not have secured assets. Comparing the total outstanding debt and the total value of the collateral assets that have been appraised, the bank suffered a loss of more than 945 billion VND.