Trial of 22 billion VND loss case at Saigon Industry Corporation tomorrow

The defendants were brought to trial for the crime of violating regulations on management and use of state assets, causing loss and waste.

The trial is scheduled to take place from May 29 to 31. The judge presiding over the trial is Chief Justice of the Criminal Court of Ho Chi Minh City Pham Luong Toan. The Ho Chi Minh City People's Procuracy is represented by four prosecutors: Mr. Tuong Manh Toan, Mr. Do Manh Quang, Ms. Tran Thi Lien and Ms. Nguyen Vu Mai Diem.

Trial of 22 billion VND loss case at Saigon Industry Corporation - 1 tomorrow — Defendant Chu Tien Dung before being prosecuted.

In addition, at the trial there will be an expert from the Ministry of Finance as the expert. There are 9 lawyers participating in defending the defendants.

According to the indictment of the Supreme People's Procuracy, 10 defendants in this case were accused of causing a loss of nearly 22 billion VND at Saigon Industry Corporation - One Member Limited Liability Company (CNS). Of which, 17.3 billion VND was from the CNS reward fund and 4.689 billion VND was from the divestment of CNS's investment capital at TIE Joint Stock Company.

CNS is a 100% state-owned enterprise, under the People's Committee of Ho Chi Minh City.

As of December 1, 2015, Decree No. 91/2015 regulating state capital investment in enterprises and management and use of capital and assets at enterprises takes effect.

The individuals who are the CNS Board of Directors, the leaders of the CNS Finance - Accounting Department and the CNS Office clearly know that CNS must issue new regulations on management and use of the reward fund according to the provisions of Decree 91 to replace the old regulations for management and use of the reward fund.

In addition, due to the consensus among the CNS leadership on the use of funds from the CNS reward fund for foreign affairs and diplomacy, when there was a proposal to spend money, the CNS Board of Directors and the accounting and finance department did not check the information on the recipients of the rewards, specific achievements, and the basis for giving rewards to units and individuals, but still signed the submission and payment vouchers, and did not check the use of the reward money.

In particular, defendant Chu Tien Dung, as General Director of CNS, directly approved the disbursement of a total amount of more than 17.3 billion VND from CNS's reward fund based on 106 proposals from departments/offices under CNS.

The indictment also determined that in the period of 2015 - 2016, when implementing the directive documents of the Ho Chi Minh City People's Committee on the implementation of the restructuring plan and divestment of CNS's investment capital at TIE Joint Stock Company, the individuals who were leaders of CNS did not comply with the provisions of law and the directives of the Ho Chi Minh City People's Committee related to the management of CNS's investment capital at TIE, causing a loss of more than 4.6 billion VND.

Regarding Vu Quoc Vinh (representing 61% of CNS's capital contribution at TIE Company), because this defendant is on the run, the Security Investigation Agency has issued a wanted notice and temporarily suspended the investigation, separating the case for independent trial.

Hoang Tho

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