Vietnam investigators file charges against more suspects in $190.6 mln bank scam

TN News

Email Print

Ministry of Public Security investigators have filed charges against six more people in an alleged scam at Vietinbank in which nearly VND4 trillion (US$190.6 million) was swindled by a senior bank official and some of her colleagues.

They also pressed a fresh charge of "forging seals and documents" against Huynh Thi Huyen Nhu, a former deputy chief of the bank's risk management office in HCMC and the alleged kingpin.

Nhu, 35, allegedly forged seals and documents of banks and companies in HCMC and Hanoi to swindle VND3.98 trillion between March 2010 and September 2011.

Her accomplices, mostly bank employees, have been charged with fraud, abuse of power, lending violations, and dereliction of duty.

In all 23 have been charged.

Among the six new suspects is Pham Van Chi, 37, who is accused of lending Nhu money between 2007 and 2011 at a daily interest rate of 0.5 percent, and faces charges of usury.

Last year investigators had recommended that the Supreme People's  Procuracy, Vietnam's highest prosecutors' office, ratify charges of fraud against Nhu.

But it ordered investigators to further investigate, saying that some aspects of the case were not clear.

In 2007 Nhu borrowed more than VND200 billion to do real-estate business.

Since then continued to borrow at high interest rates, which took her debts to hundreds of billions of dong as of 2010 even as her business suffered losses.

Then she found accomplices in another bank to steal money by using forged Vietinbank deposit certificates and also pocketed money illegally deposited by three banks, including Asia Commercial Bank (ACB), nine companies, and three individuals.


Investigators said deposits of nearly VND719 billion ($34.17 million) by ACB were illegally approved by six former bosses of the bank -- illegal because banks are prohibited from depositing funds in other banks.

The six, including co-founder Nguyen Duc Kien, former CEO Ly Xuan Hai, former chairman Tran Xuan Gia, and former deputy chairmen Trinh Kim Quang, Le Vu Ky, and Pham Trung Cang.

They are being investigated for this and other wrongdoing.

Like us on Facebook and scroll down to share your comment

More Society News