Former VEAM Chairman declares about distrained assets

According to the allegations, Mr. Tran Ngoc Ha was the Chairman of the Members’ Council (BOD) of VEAM during the period from April 15, 2011 to December 31, 2014; was the General Director (General Director) of VEAM from January 1, 2015 to August 8, 2018. Mr. Ha was involved in 3 acts, causing a total loss of more than 142 billion VND.

Specifically, from 2011-2013, Mr. Vu Tu Cong (VEAM Chief Accountant) advised, proposed and drafted documents to submit to Mr. Lam Chi Quang (VEAM’s General Director) to sign 4 payment guarantee certificates for Vetranco (the companies under VEAM) borrowed VND 193 billion from banks.

When the payment was due, Vietranco could not repay the loan, so VEAM was forced to collect more than 23 billion VND by banks and had to lend it to Vetranco to pay more than 52 billion VND in debt to banks, causing damage to VEAM 75.82 billions dong.

It is alleged that, with the rights and responsibilities of the Chairman of the VEAM Member Council, Mr. Tran Ngoc Ha knew and was forced to know that the guarantee of payment for Vetranco by defendants Lam Chi Quang and Vu Tu Cong was a violation.

The indictment determined that Mr. Tran Ngoc Ha knew and created conditions for Mr. Lam Chi Quang and Vu Tu Cong to carry out guarantees and illegal loans, causing damage to VEAM of VND 75.82 billion.

In 2016, VEAM’s “Investment in production of medium-sized four-wheel tractors” project is in the investment preparation stage and has not been considered and decided by the Ministry of Industry and Trade.

At that time, Mr. Tran Ngoc Ha with the title of General Director of VEAM still signed a License Supply Contract with ISEKI Company (Japan) and paid 2 installments, amounting to 2.5 million USD, but then later there is no basis for the recall, causing more than 56 billion VND in damage to VEAM.

In 2015, Mr. Ha, with the title of General Director of VEAM, voluntarily decided to cooperate with T-King Company (China) to implement an investment plan to develop right-hand drive cars for export to Srilanka but there is no Resolution of the Board of Directors of VEAM, not included in the approved business plan of VEAM.

However, the defendant decided to transfer an advance of $ 400,000 to T-King Company for this company to research and develop right-hand drive car parts.

Because the above plan could not be implemented and the advanced amount could not be recovered, VEAM suffered a loss of more than 9.9 billion VND.

Not admitting guilt

This afternoon, during interrogation at court, former Chairman of the VEAM Board of Directors presented that the defendant was not eligible to know the payment guarantee for Vetranco of defendants Lam Chi Quang and Vu Tu Cong. In fact, the Board of Directors only has overall responsibility, which level should be held accountable.

The Chairman of the Board of Directors always reviews the company’s activities, but only on reports. As for the signing of 4 payment guarantee certificates for Vetranco, the CEO only needs to sign and then transfer to the bank, so no one knows.

Former Chairman of the Board of Directors of VEAM said: “If I consider it, I only have the administrative responsibility of the head, this is under Mr. Quang’s authority, I have no conditions to know.”

Responding to an interrogation about causing a loss of more than 56 billion VND, related to the project “Investment in the production of medium four-wheel tractors”, according to Mr. Tran Ngoc Ha, the above amount cannot be called a loss or a waste. .

According to the defendant’s explanation, the deposit of 9.9 billion VND is for a commercial agreement, not an investment. According to the agreement, this money is not lost because there is no time limit.

Mr. Tran Ngoc Ha believes that he has fulfilled his responsibilities and that the investigation results do not reflect the true nature of the problem.

In this case, defendant Tran Ngoc Ha was distrained 2 houses at the address Cong Vi ward, Ba Dinh district, Hanoi and the house at Xuan La ward, Tay Ho district, Hanoi.

In addition, Mr. Ha was also frozen 102,400 VEA shares and 10,000 FBC shares at the Securities Depository Center.

Referring to the distrained assets, defendant Ha declared that the house in Xuan La ward was under her sister’s name. The defendant transferred it to me 20 years ago.

In court, both the accused’s wife and sister confirmed that this testimony of Mr. Ha was correct. Mr. Tran Ngoc Ha’s sister also suggested not to keep this house.

As for the remaining house and the distrained shares, Mr. Ha said that the house was inherited from his family, and the shares were bought by him from legal income. Both of the above assets are common property of the whole family, so they cannot be distrained.

T.Velvet