ACB former bosses’ trial delayed due to illness

17/04/2014
Speaking in court, defendant Nguyen Duc Kien insists on continuing the trial despite the absence of Tran Xuan Gia.
The trial against Nguyen Duc Kien, former vice chairman and a founding member of Asia Commercial Bank (ACB), and eight other defendants has been delayed due to the illness of one defendant.
The Hanoi People’s Court on April 16 began the trial against Kien and others on alleged charges of fraud.
Under the indictment of the Supreme People's Procuracy, Kien is being prosecuted on four counts: unauthorised trading, intentionally violating the State’s regulation on economic management causing serious consequences, fraudulent appropriation of property and tax evasion.
Former Director Tran Ngoc Thanh and chief accountant Nguyen Thi Hai Yen of the Hanoi ACB Investment Company were indicted on the charge of fraudulent appropriation of property.
Former ACB Chairman Tran Xuan Gia, former vice chairmen Le Vu Ky and Trinh Kim Quang, former ACB Chief Executive Officer Ly Xuan Hai, and former board of directors member Huynh Quang Tuan were all brought up on the charge of intentionally violating the State’s regulation on economic management causing serious consequences.
Gia, who was absent from the morning session, submitted a petition to delay the trial on account of his poor health.
At the opening this afternoon’s hearing, the Hanoi People's Procuracy suggested that the city’s People’s Court postpone the trial based on Gia’s absence, as the 75-year-old defendant plays an important role in the case.
According to the Hanoi People's Procuracy, the panel has verified the information from the Vietnam-Soviet Friendship Hospital and concluded that Gia is unable to attend the proceedings. Therefore, the agency proposed that the hearing be adjourned under the provisions of the Criminal Procedure Law.
After consultation, Chief Judge Nguyen Huu Chinh announced the suspension of the trial.
It has not yet been decided when the hearing will be resumed.
The indictment said that Kien set up six businesses to conduct illegal gold trading and financial investments, and that he evaded taxes through these firms for which he served as chairman. Although these companies were not licensed, Kien still operated illegal gold trading and financial investments totaling nearly VND21.5 trillion.
From June to September of 2011, these former executives approved the authorisation for 19 ACB staff members to deposit more than VND718.9 billion in Vietinbank. The deposited money was appropriated by Huynh Thi Huyen Nhu, a former Vietinbank official, and her accomplices, who have already faced prosecution for fraudulent appropriation of property.
The indictment also identified Pham Trung Cang, Nguyen Duc Kien, Tran Xuan Gia, and Ly Xuan Hai as having advocated using ACB clients’ money to send to other credit institutions, causing total losses of nearly VND1.7 trillion.
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All comments [ 10 ]


Quân Hoàng 17/4/14 21:41

Vietnam law is very fair , the guilty will be dealt with severely .

Quốc Kiên 17/4/14 21:42

It should be a public trial and transparency to enhance deterrent effect on society and limit the negative in the process of socio-economic development .

Vân Nhàn 17/4/14 21:45

the police must investigate to find out all the facts and his accomplices to handle decisively to clean up Vietnam economic environment .

Lê Tín 17/4/14 21:46

Vietnam ís strongly and fiercely fighting against corruption, welcome Vietnam.

Quốc Cường 17/4/14 21:49

what a pity for a qualified and knowledgeable man but talent is used in the wrong place .

Phạm Hiếu 17/4/14 21:50

This is evidence of fairness and democracy in Vietnam .

Huy Quốc 17/4/14 21:53

his illegal activities took place a long time ago .

Hoàng Lân 17/4/14 21:55

Vietnam should resolutely handle these objects, corruption is a threat to the stability of the country .

Hùng Quân 17/4/14 21:57

Mr Kien also contributed for football in Vietnam, hehe

Huy Lâm 17/4/14 21:59

The Court must prosecute to each specific person who related to events in this case.

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