VIETNAM: BANKER SENTENCED TO DEATH IN GRAND SCAM
A court in the Central Highlands gave the death sentence to a Vietnam Development Bank (VDB) executive
A court in the Central Highlands gave the death sentence to a Vietnam Development Bank (VDB) executive and several life sentences to others involved in a hundred-million-dollar scam.
The defendants had taken advantage of credit privileges given to exporters to fake documents and borrow more than VND2 trillion (US$94.88 million) from VBD’s Central Highlands branch for Dak Nong and the neighboring Dak Lak Province, as well as Nam A bank at its Hanoi branch, and the Ho Chi Minh City-based Orient Commercial Bank.
Vu Viet Hung, 57-year-old former director of the VDB branch, was punished on three charges - a death sentence for taking bribes in the form of a BMW car worth 3.2 billion in late 2009, a life sentence for fraud, and 20 years in jail for violating lending regulations.
The defendants had taken advantage of credit privileges given to exporters to fake documents and borrow more than VND2 trillion (US$94.88 million) from VBD’s Central Highlands branch for Dak Nong and the neighboring Dak Lak Province, as well as Nam A bank at its Hanoi branch, and the Ho Chi Minh City-based Orient Commercial Bank.
Vu Viet Hung, 57-year-old former director of the VDB branch, was punished on three charges - a death sentence for taking bribes in the form of a BMW car worth 3.2 billion in late 2009, a life sentence for fraud, and 20 years in jail for violating lending regulations.
— SOURCES
- (Sources: thanhniennews.com, 17/03/2014)