Charges sought against 14 in southern Vietnam's massive loan scam

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Police in Ho Chi Minh City Thursday asked prosecutors to charge 14 suspects, including state bank officials, suspected of orchestrating a loan scam that caused losses of VND120 billion (US$5.73 million) to the state budget.

According to investigations' findings, between November 2005 and June 2009, a group of officials and employees at the Agribank branch in Tan Binh District approved loans totaling VND120 billion for Nguyen Thi Phuong Hoa, 41, and Tran Huynh Nghia, 46, based on a series of false documents.

The bank's leaders, including former Director Nguyen Tam, and two internal inspectors from Agribank's southern representative office, were also implicated in the case.

Hoa remains at large and is currently wanted by Interpol, police said.

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