Mr. Tat Thanh Cang was reduced to 18 months in prison

Given that there is a basis to consider reducing the punishment for Mr. Tat Thanh Cang, the Appellate Court of the High People’s Court in Ho Chi Minh City has ruled to reduce this defendant to 18 months and 5 years in prison.

On the afternoon of June 9, the Trial Panel (Trial) of the High People’s Court in Ho Chi Minh City heard the case of Tan Thuan Industrial Development Company Limited (IPC), Saigon South Development Joint Stock Company (SADECO). , cheaply issued 9 million shares to Nguyen Kim Investment and Development Joint Stock Company (Nguyen Kim) conducted the sentencing.

The jury is deciding. Photo: Tan Chau

The appellate judgment accepted his appeal Tat Thanh Cang (former Standing Deputy Secretary of the Ho Chi Minh City Party Committee), thereby reducing from 10 years in prison for the crime of “violating regulations on the management and use of property causing loss and waste” that the first-instance court declared to 8 years. five and six months in prison.

Mr. Tat Thanh Cang’s mistake, according to the appellate judgment, as the Deputy Permanent Secretary of the Ho Chi Minh City Party Committee, Mr. Cang directly directed the activities of the Office of the City Party Committee. When the City Party Committee’s Office asked for opinions on the transfer of shares in SADECO at the price of 40,000 VND/share, Mr. Cang did not direct defendant Pham Van Thong (former deputy chief of the City Party Committee’s office) to comply with the auction regulations. Public pricing, valuation.

In addition, Mr. Cang also wrote “agree” on the proposal to transfer shares to Nguyen Kim.

Mr. Cang’s behavior created conditions for Mr. Te Tri Dung to transfer 9 million shares of SADECO to Nguyen Kim, causing serious damage to the State.

The defendant, Te Tri Dung, was sentenced to 20 years in prison, and now the appellate court has accepted to reduce him to 1 year in prison. In addition, forcing defendant Dung to serve 19 years in prison for two counts of “violating regulations on the management and use of property, causing loss and waste”, “Embezzlement of property”.

The court sentenced the accused to hear. Photo: Tan Chau

The appellate judgment also accepted a 2 year prison reduction for defendant Ho Thi Thanh Phuc (former General Director of SADECO). Thereby, defendant Phuc was sentenced to 16 years in prison by the first-instance sentence, and now has 14 years in prison for 2 crimes of “Violating regulations on management and use of property, causing loss and waste”, “Embezzlement of property”. “.

Defendant Nguyen Truong Bao Khanh (former member of the IPC Member Council) was sentenced to 3 years in prison by the first-instance sentence for “violating regulations on management and use of state assets, causing loss and waste”. The defendant appealed for a suspended sentence and the appellate judgment has just accepted the defendant’s appeal of the suspended sentence.

The appellate judgment also denied the appeal of the victim SADECO

According to the content of the appellate judgment, SADECO is a subsidiary of IPC Company (100% state capital). According to regulations, when increasing capital and transferring the right to buy shares of IPC, the capital of the City Party Committee at SADECO must be auctioned. However, IPC and SADECO agree to sell 9 million shares to Nguyen Kim for 40,000 VND/ shares did not go through valuation and auction, causing damage to SADECO more than 1,103 billion dong. In which, the loss of State assets is more than 669 billion VND.

Overview of the courtroom at the time of sentencing this afternoon 9/6. Photo: Tan Chau.

In addition, Mr. Te Tri Dung also directed defendant Ho Thi Thanh Phuc (former General Director of SADECO) and subordinates to spend SADECO’s money for many individuals traveling abroad in the name of sightseeing, surveying , causing a loss of more than 2.1 billion dong and embezzlement of 4.6 billion dong from SADECO’s remuneration and reward fund.

In January 2022, the People’s Court of Ho Chi Minh City issued a first-instance sentence and sentenced Mr. Tat Thanh Cang to 10 years in prison for “violating regulations on management and use of state assets, causing losses and waste”. Te Tri Dung 20 years in prison for 2 crimes of “Embezzlement of property”, “Violation of regulations on management and use of state property, causing loss and waste”; The remaining defendants in the case were sentenced to between 3 years and 6 months in prison for one of the crimes or both.

After the first-instance judgment, the defendants, SADECO appealed, and the appellate court heard and just sentenced the above sentence.