Friday, May 4, 2012

A series of bank senior executives meet with misfortunes | Look At Vietnam

A series of bank senior executives meet with misfortunes

May 4, 2012
LookAtVietnam – Holding important positions at banks and working in the most
lucrative business field of the national economy can bring both the
opportunities to get rich and become moneyless.


Director, Deputy Director of BIDV Phu Yen dismissed
On April 24, the Bank for Investment and Development of Vietnam’s (BIDV) Board
of Directors released the decision to cashier Nguyen Cong, born in 1956, from
his post as Director of the Phu Yen branch of the bank.
The bank also dismissed Deputy Director of BIDV Phu Yen Nguyen Van Tuyen and
served a warning on Deputy Director Nguyen Duy Sinh for their serious violations
in finance – credit operation.
Prior to that, an inspection team of BIDV Vietnam discovered some unclear loans,
which may lead to irrecoverable debts. This contributed to the increasingly high
bad debt ratio at BIDV Phu Yen since 2003, the time when Cong took the office as
the director.
Currently, the investigation agency is also taking necessary steps to clarify
the responsibility of Cong and relevant officers in the case relating to the
couple Ho Minh Hau and Pham Thi Ai Loan, who have been hunted by Interpol for
their deceptive practices. They have been alleged of appropriating the big sum
of 400 billion dong.
Southern Bank chief sentenced to life imprisonment
Former Director of Southern Bank Tran Thi Gai in August 2011 was accused of
abusing the confidence to appropriate other people’s assets, for which she was
sentenced to life imprisonment. Gai deliberately refused to pay the debt of 15
billion dong she owed to many creditors.
According to the charges of the Hanoi People’s Procuracy, while in office, Gai
borrowed and appropriated 15.2 billion dong from five creditors.
In April – July of 2007, Gai 12 times borrowed money from Pham Quang Tuan
totaling 12.8 billion dong, of which she could pay back 6 billion dong.
In October of 2007, she borrowed 2.4 billion dong from Nguyen Toan Hung and
received 1.2 billion dong in payment for the house sale, but she did not deliver
the house.
Vietinbank Tra Vinh’s Director prosecuted
On November 25, 2011, the Tra Vinh provincial police sent on the decision to
prosecute and put Ngo Cong Binh, 51, director of Vietinbank Tra Vinh branch,
into temporary detention.
Prior to that, Vietinbank released the decision to suspend the work of Ngo Cong
Binh and he was arrested at his home in Tra Vinh City for the alleged behavior
of “embezzlement of assets.”
Binh told Ngo Thi Thanh Van, Deputy Director of the bank branch and other
subordinates to counterfeit 600 files on paying commission to brokers for
capital mobilization, which allowed them to earn 2.2 billion dong.
Binh also instructed Nguyen Thi Hoa, a senior executive, to remit all the money
from the commissions to Hoa’s account. When examining the head office of
Vietinbank Tra Vinh, the investigation seized a volume of gold and found 700
million dong in Hoa’s account.
BIDV’s Deputy General Director appear in court
In early February 2010, the public was stirred up by the information that Doan
Tien Dung, Deputy General Director of BIDV was arrested for exploiting his
position to profit multi billions of dong.
In the years from 2006 to 2008, Hoang Van Khanh, General Director of the Hai
Phong Garment Company borrowed 45 billion dong from BIDV Hai Phong branch. Khanh
then decided to sell the mortgaged asset for 57 billion dong.
After the contract was wrapped up, the buyer remitted 57 billion dong into the
company’s account at BIDV Haii Phong. However, BIDV Hai Phong refused the
proposal by Khanh to withdraw cash from the account. Dung told Khanh that Dung
would give the nod if Khanh accepts to give him 5-7 billion dong under the
table.
Source: Dat Viet
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