The People’s Court in Ho Chi Minh City on July 16 announced prison sentences on a group of former officials and leaders of Bank for Agriculture and Rural Development, for wrongly facilitating a businessman to appropriate nearly VND112 billion (US$5.28 million) in loans.
According to the verdict of the City People’s Procuracy, during the period 2009-2010, Tran Quoc Dan, former Chairman of Dai Phuong Uyen Real Estate Company, who was on the run from authorities, established several companies to avail of bank loans.
Dan had forged economic contracts and land use right certificates to then obtain nearly VND112 billion in loans from Branch 3 of Agribank.
Being aware of Dan’s tricks, 47-year-old Nguyen Huu Long, former deputy director of Agribank instructed Huynh Trung Hieu, 30-year-old former credit staff and Dao Phuong The, 46-year-old former head of the planning department, to make necessary proposals to give Dan the loans.
Afterwards, Long submitted the documents and proposals to the credit consultancy council for approval from the council's Chairman Doi Sy Thuy. Thuy was also director of Agribank 3 at that time.
In turn, Long received presents worth VND31.5 million from Dan.
The jury announced a ten and a half year prison sentence for Nguyen Huu Long. Dao Phuong The and Huynh Trung Hieu were sentenced to 12 and 22 years in prison for ‘breaking loan regulations of credit institutions’ and ‘abusing their position and authority while on duty’.
The four accused, in whose names Dan established the companies, include Tran Huu Thien, Dang Ngoc Minh, Nguyen Minh Thuan and Pham Thi Duoc, all of who have been sentenced to 5-8 years in prison.
