Former general director of a financial company was sentenced to life in prison

On the afternoon of April 5, after two days of trial, Mr. Ngoc, 71 years old, former general director of Vietnam Rubber Finance Company Limited (RFC, 100% state capital) was convicted by the People’s Court of Ho Chi Minh City. Property embezzlement. Combined with 22 years in prison in other sentences, Mr. Ngoc must serve a life sentence.

Regarding the case, defendant Phan Long Hai Au, former head of Transaction Office No. 3 RFC, General Director of Minh Hang Co., Ltd., received 20 years in prison; Nguyen Anh Tuan, former deputy general director of Minh Hang Co., Ltd. received 12 years in prison for the same crime.

Four other defendants, former RFC officers and employees, were sentenced to 5-7 years in prison for the crime Violations against regulations on lending in activities of credit institutions.

According to the jury, defendant Ngoc was the person most responsible for signing and approving, while Au (grandson) created and directed his subordinates to sign false documents to borrow funds from RFC and then appropriate 47 billion VND of this company. Since then, the court ordered Mr. Ngoc to pay 33 billion VND, and Au 38 billion VND to RFC.

The judgment determined that in 2010, Phan Long Hai Au, when he was still Head of Transaction Office No. 3 RFC, had contributed capital with many people to Minh Hang Company and held the position of General Director. This enterprise was allowed by the People’s Committee of Dak Lak province to pilot 100 hectares of rubber on a total area of ​​983 hectares of leased land. With this limit, Minh Hang Company can borrow up to VND 8.4 billion from RFC.

However, Phan Long Hai Au discussed with Phan Minh Anh Ngoc using the legal entity Minh Hang Company, raising the limit allowed to grow rubber to 780 hectares to make loan documents, appropriating money from RFC and Mr. Ngoc agree.

Au then appointed Tuan (Au’s friend) as Deputy General Director of Minh Hang Company, directing this person to make false records and business plans to borrow money from RFC. Mr. Ngoc has approved disbursement for Minh Hang Company of more than 58 billion dong through 16 contracts. Europe used more than 11.7 billion VND to invest in rubber plantation, the remaining 46.6 billion VND divided by Ngoc 7.3 billion VND. The defendants’ conduct caused RFC more than 102 billion in damages.

RFC’s credit officers and employees knew that European loan applications were not eligible, but they still signed and submitted to their superiors for approval.

Thao Mi