Former SBV Deputy Governor gets three years in jail

Tuesday, 2018-07-03 12:27:22
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Former SBV Deputy Governor, Dang Thanh Binh.
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NDO/VNA – Dang Thanh Binh, former Deputy Governor of the State Bank of Vietnam (SBV), was sentenced to three years in prison for the charge of lacking responsibility causing serious consequences at the Vietnam Construction Bank (VNCB) during the first instance trial in Ho Chi Minh City on July 2.

With the same charge, Ha Tan Phuoc, former head of the SBV supervision group and former Deputy Director of the SBV branch in Long An, received a jail sentence of two years.

Le Van Thanh, former Chief Inspector of the SBV branch in Long An was sentenced to two and a half years; Ngo Van Thanh, former member of the SBV supervision group, received one and a half years; and Pham The Tuan, former deputy head of the SBV supervision group, got one year.

The defendants were exempted from their civil responsibilities, as it was identified that Pham Cong Danh, former chairman of the Board of Directors of VNCB, and his accomplices misused the money.

According to the indictment, Ha Tan Phuoc, Le Van Thanh, Pham The Tuan, and Ngo Van Thanh, as members of the SBV supervision group at VNCB, were assigned to supervise the operation of VNCB, including transactions worth VND5 billion and more.

However, they failed to perform their roles, allowing Pham Cong Danh and his accomplices to withdraw money from the bank, causing serious consequences.

Meanwhile, as the person in charge of the SBV’s supervision agency and legal department, and tasked with assisting the SBV Governor in directing the reshuffle of six banks with poor performance, Dang Thanh Binh had failed to perform his duties in implementing the restructuring plan of Dai Tin (Trust Bank), the VNCB predecessor.

Binh allowed Danh and his accomplices to join the management work and hold dominant shares at the bank, which enabled them to cause serious economic losses of over VND15 trillion (US$656.2 million) to the bank, according to the indictment.